Shop prices outrageous - Osogbo traders lament

By Sola Isola

Traders in Osogbo, the Osun state capital has lamented the increasing cost of renting a shop or space to do their business adding that business has not been like it used to be in a while now.

Osun Spring reports that many shops in the state capital are either been given up by real estate agents who either inflate the price or impose several other form of payment on business owners.

Some traders who spoke to our correspondent stated that many business have collapsed because they can not afford to pay rent while several others have resulted to either selling online or using their car as shops.

Segun Adeoye a shoe trader said he said he had to move out when the rent he was paying is now less than the profit he makes in a year and the shop owner kept increasing the price.

He said “I had to leave the shop because I was using money from other sources to pay rent and my business was going to just die if I continue.

“They keep increasing rent and I couldn’t meet up, this is affecting several business owners, many people either quit business or move home and start selling online.

“Especially those new shopping complexes they are building, it is as expensive as 500,000 and that means your profit will be going in to rent only, it is just outrageous.”

Another trader, Titi Ajayi revealed that even when the rent is paid, she had to result to setting up her business beside the road especially in the evening, otherwise no one is coming into the shops to buy as much as it will give her profit.

“Its not been easy using a shop in Osogbo, honestly, the amount of money we pay is way less than the profit we make and then they keep increasing it.

“We don’t know if it’s the landlords or agents,l that is doing it but its very bad. I sometimes have to take my goods to the roadside in the evening, otherwise there are days I won’t sell anything.

Osun Spring reports that there are several shops within Osogbo, the Osun state capital that is left vacant because business owners consider it too expensive and therefore avoid it or leave it for bigger business owners who rents it for storage purpose.