SOKOTO RAM SELLERS REJECT ELECTRONIC TRANSFERS

Added: 2026-06-01

[00:00:03]At the markets visited, ram prices ranging from about 150,000 to 700,000 naira.

[00:00:11]The chairman of the Sokoto ram sellers association, Malam Kwara says despite the moderate pricing, traders are still facing low patronage, insufficient capital, and weak purchasing power among buyers. He also explains that some sellers reject electronic transfer because they operate in rural areas and are not yet fully conversant with digital payment system.

[00:00:37]We are faced with multiple challenges of low patronage, insufficient capital, and lack of purchasing power among residents. But the ram prices are fair this year.

[00:00:49]My rams are worth 700,000 to 1 million naira, but I don't accept electronic transfer. I'm not familiar with the system. I don't even have phone. The market says while prices are relatively fair compared to last year, many traders refusal to accept electronic payments remain a concern.

[00:01:10]Because they they won't accept electronic transfer.

[00:01:13]So, just to make it easy because you can try to look for cash and you probably don't have enough cash.

[00:01:20]But I'm advising them to just at least try to get the app because it's more easier now because you can't just be carrying money, a lot of money.

[00:01:31]You understand? All along, all for you to come and buy a ram. It's very risky, honestly. Like 2 to 3 yesterday, and the prices we had it there yesterday is multiplied on today because I see one ram here is not bigger than the one the one we buy yesterday.

[00:01:47]The one we buy yesterday we buy it I was thinking 580 or 570. But here they are talking about 600 and they are not even ready to sell. We even better at that at 600,000, but they are not ready to sell.

[00:02:00]They're thinking that they are asking us to add something above the 600 600,000.

[00:02:13]How do you expect someone from rural area to be familiar with electronic transfer? This is why they are rejecting it, but we have POS operators around helping in solving the problem. Compared to last year's prices are considered more stable, but traders say low purchasing power continues to affect sales. Many buyers are also delaying purchases, with some expected to buy up to 2 days after Salah to observe their religious obligations.