Prices of bicycles soar in Benin over ban on motorcycles, tricycles The prices of motorcycles and their parts have reduced. Price of bicycles have increased in Benin following the ban on motorcycles and tricycles popularly called “Okada’’ and ‘’Keke Napep’’ by the state government. A market survey by the News Agency of Nigeria on Forestry Street, a major market for bicycles and motorcycles in Benin on Monday, showed that few motorcycles were sighted in the market, while various brands of bicycles were seen in the market. The survey showed that the price of a particular brand of bicycle now sells for N15, 000 against the old price of N5, 000, while another brand that sold for N10, 000, now sells for N25, 000. A fairly used motor bike now sell for between N10, 000 to N25,000 against the old price of between N45, 000 and N55,000 while new bikes were no longer being sold in the markets. The price of parts of motorcycles had also reduced. A new motorcycle tyre, tube, brake pad and side mirror now sell for N1, 200, N120, N200 and N80 against N1, 800, N300, N350 and N120, respectively. Emeka Obinna, a motorbike spare parts dealer in the market, said that the ban was too sudden and would lead to loss of capital invested in the business. “Most of us just bought new spare parts and our business is now tied down. We usually borrow money at our various group meetings and banks to do this business. So how are we going to repay these loans? “We are not saying that motorcycles should not be banned, all we want is more time, say two or three months notice, so that we can plan on the way forward”, he said. Peter Osagie, another motorcycle dealer, said that he was planning to relocate to another state where the use of motorbikes was not restricted. A customer, Paul Adebayo, who was seen buying a new bicycle, said that he decided to resort to using bicycles because he would not spend money on fuel. Governor Adams Oshiomhole of Edo recently banned the use of motorcycles in three Local Government areas of Egor, Ikpoba-Okha and Oredo. The governor also announced the ban on tricycles noting that its operations should be within remote areas. (NAN)
Posted on: Tue, 18 Jun 2013 11:45:35 +0000
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