Let’s make trade fair in Nigeria

Jide Ojo

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Trade is a form of exchange. This can be an exchange of commodities or services, even ideas. Trade practice has been from time immemorial and is as old as mankind.  AI Overview says, “Trade is the voluntary exchange, buying, or selling of goods, services, or financial products between individuals, companies, or countries for mutual benefit, creating links between producers and consumers and boosting economies by allowing specialisation and access to a wider variety of goods. It can be local (domestic) or international (imports/exports) and involves various forms, from simple bartering to complex financial market transactions.

Many of us will remember the phenomenon of “trade by barter”, where people exchange products, they have for the one they need. For instance, we’re told that before the advent of money, people exchanged goods and services such that a person who has yams and needs corn will go to the market to look for someone who has corn and needs yams. Or someone who has farm produce and needs clothing materials will look for someone who has clothes and needs food. Even with the introduction of money, bartering hasn’t stopped, as I know people who go about collecting used clothes or household utensils in exchange for plastic products or other items.

I have reflected on the issue of trading and found out that more often than not, trade isn’t fair. However, it’s essential to recognise that this conversation extends beyond the traditional definition of a trade fair.

AI overview explains that “A trade fair is an event where companies in a specific industry showcase their products and services to other businesses and potential customers. It’s a platform for networking, demonstrating the latest innovations, and learning about market trends and competitors. Attendees can discover new products, connect with suppliers, and gain industry knowledge.”

Key functions of trade fair include the following: Exhibition: Companies set up booths to display and demonstrate their products and services, often in a pre-formatted setting; Networking: It provides a chance for businesses to connect with industry partners, customers, and influencers; Market research: Attendees can learn about new products, examine their competitors’ activities, and understand the latest market trends; Sales and lead generation: Exhibitors aim to meet new customers, reinforce relationships with existing distributors, and generate sales leads; Promotion: It serves as a marketing and PR tool, allowing companies to promote their brand and build their image.

Growing up in Ibadan city, I remember vividly going to the trade fair complex at Sango Area on the way to the University of Ibadan. There, you’re sure to have a taste of new products, such as beverages or a gift of newly launched toothpaste. There is a wide assumption that products on exhibition at the Trade Fair are cheaper, as the producers are actually the ones selling directly to consumers and not through middlemen or third parties. I have similarly been to the Trade Fair Complex in Lagos at Ojo Local Government Area on the way to Badagry in order to make some purchases.

As earlier mentioned, making a call for fair trade is due to a lot of cheating I have seen in the course of buying and selling either products, services or ideas. Do you know that despite being a producer of crude oil, Nigeria does not determine how much it will sell its crude. That’s determined in part by the Organisation of Petroleum Exporting Countries and largely by the buyers. In the classical textbook, it’s the seller that should determine prices, but oftentimes in international trade, it is the buyer that does.

It’s partly to make trade fair that led to the establishment of the World Trade Organisation, which is at present headed by Nigeria’s former Finance Minister, Dr Ngozi Okonjo-Iweala. An online source reported that the World Trade Organisation manages the global system of trade rules, aiming to ensure trade flows smoothly, predictably, and freely to boost living standards and create jobs. Its core roles include providing a forum for negotiating trade agreements, administering trade rules (goods, services, IP), resolving trade disputes, monitoring national policies, and offering technical help for developing countries to build trade capacity. Essentially, it helps countries trade fairly and predictably by enforcing agreements and acting as a global trade referee.

In our local markets, you’ll have to be eagle-eyed not to be cheated. Some trade in fake, expired or adulterated products. This newspaper, in its March 21, 2025 edition (online), reported that the National Agency for Food, Drug Administration and Control …destroyed counterfeit, substandard and fake pharmaceutical and other products worth over one trillion naira at the Anambra State Waste Management Authority Dump Site, Agu Awka, Anambra State. The Director General of the agency, Mojisola Adeyeye, who performed the exercise at the dump site located in the Awka South Local Government Area of Anambra, said the affected products include Analgin, controlled substances such as Tramadol 225mg, amongst others. Adeyeye, who was represented by the NAFDAC’s South-East Zonal Director, Dr Martins Iluyomade, said the fake, substandard, unregistered, and expired drugs were confiscated from the Onitsha Bridge Head Drug Market (Ogbu-Ogu) and Ekumi/ Tenant Road drug market in Aba.

When the electorate votes in elections, they are trading their votes for good governance. Remember, while it’s undeniable that a section of voters may have demanded money or been induced to cast their votes, the majority voted without collecting anything. All the years I have been voting, I have never collected cash or a gift for exercising my franchise; likewise, most voters. Our expectation from our elected representatives is that they will fulfil Section 14(2)(b) of the 1999 Constitution of the Federal Republic of Nigeria, as amended, which says that security and welfare shall be the primary purpose of government. Unfortunately, our elected representatives, be they president, governors, Local Government chairmen or lawmakers, have always failed to deliver on their campaign promises and dividends of democracy. That’s why there is a persistent high cost of living, instead of a high standard of living.

Marriage is a trade in love. However, given the epidemic of separations and divorce cases, it’s obvious that the marriage institution is under severe stress and threat. Even for many families where spouses are managing to stay under the same roof, a lot of domestic violence is being reported. There is a spike in reported cases of gender-based violence, with only societal stigma and pressure from religious leaders being the main reasons many have not separated or filed for divorce. It thus shows that the espoused love before marriage is either faked or has gone stale due to some factors such as intolerance, impatient, ego, poverty, childlessness or peer pressure.

Friendship is also another form of trade. Unfortunately, many friendships don’t last again due to lack of mutual respect; over-dependence on friends for daily survival; gossip; indolence; and lack of genuine affection, to mention but a few.

Having x-rayed different dimensions of unfair trade, can we all start to make amends? Can we make an international and domestic trade fair? Can we make friendships, marriage and governance fair? There lies our humanity.

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