Peter Obi’s Presidential Win Will Signify Wealth For Nigerian Hair Vendors

During his tenure as governor of Anambra state, Peter Obi helped his state thrive economically.

Amongst the many things, he developed the state’s infrastructure, created jobs for the youths of Anambra state, and brought in foreign investments.

Should Peter Obi win this Saturday’s elections, there is likely to be many positive changes for Nigerian hair vendors.

Peter Obi’s government policies may make improvements in the following department

• Trade and foreign exchange policy

Most of our imports are foreign exchange dependent.

Peter Obi’s trade and foreign exchange policy includes

1. ramping up production for local usage and export,
2.  regulating foreign exchange rates.

Improving these factors can potentially lead to a reduction in importation of hair. For example these factors will bring foreign exchange into the country, leading to a significant impact on the cost of importing hair bundles from China. Obi’s trade and foreign exchange policy  may improve hair vendors’ balance of trade with other countries.

• Associated costs of importation

High associated tariffs and taxes can increase the cost of importing hair bundles, making them more expensive for Nigerian hair vendors to purchase from China. These associated charges are brought on by corruption in the customs process.

Therefore a more efficient process promised by a Peter Obi’s administration will positively affect the cost of importation and Nigeria’s hair industry.

• Transportation costs

Transportation costs plays a major role in the many challenges hair vendors in Nigeria face. Some of which include the high costs involved in moving the hair bundles from the factory in China  to the vendor’s location within Nigeria.

Transportation costs can include shipping fees, customs clearance fees, insurance fees, and other expenses associated with international trade. These costs can vary depending on the shipping method used (such as air or sea freight), the distance between the two countries, and other factors.

• Supply chain efficiency

The efficiency of the supply chain is how quickly and smoothly the hair bundles can move from the manufacturer in China to the vendor in Nigeria. Factors that can affect supply chain efficiency include the reliability of transportation networks, the quality of logistics services, and the effectiveness of customs procedures. If the supply chain is inefficient, it can result in delays, additional costs, and even damage to the hair bundles.

• Quality of the hair bundles

Investing in quality long lasting hair is of utmost importance to many Nigerian women, including myself. But many hair vendors have been known to cheat their customers of quality hair extensions. Due to impact on cost of importation that the high cost of quality hair bundles has, many hair business owners prefer low quality hair. Even as the investment results in high quality hair incures more satisfied customers and repeat business.

On the other hand, low-quality hair bundles may be cheaper to import, but they may lead to dissatisfied customers and negative reviews, which can harm the vendor’s reputation and business.

These are just some of the factors that will be beneficial to hair vendors should Peter Obi win 2023 elections.

The hair market is a billion dollar industry that has potential to make many millions and looking at the work he did in Anambra, Peter Obi as the president of the Federal as the capability to make significant changes that will make many hair vendors wealthy while also appeasing the average Nigerian woman.

Furthermore, if the Nigerian government implements policies to promote trade and investment, such as reducing import tariffs or improving the efficiency of customs procedures, it can lead to a decrease in the cost of importing hair bundles from China.