How Governor Otti’s Evening Markets Will Power The Velocity Of Money In Abia
EBERE UZOUKWA, PhD
When Governor Alex Chioma Otti announced during the September edition of “Governor Otti Speaks to Abia” that construction of sixty eight evening markets would commence the following week, it was more than just another policy pronouncement. It was a carefully designed step to deepen Abia’s ongoing transformation and extend the dividends of governance to the grassroots. The decision to build four evening markets in each of the seventeen local government areas reflects a vision that deliberately prioritizes rural development and aligns with the governor’s consistent emphasis on the principle of the velocity of money.
The velocity of money is an economic principle that measures how quickly money circulates within an economy from one transaction to another. Simply put, it is the rate at which money changes hands. The faster it moves, the more it stimulates production, trade, and growth. Governor Otti has repeatedly stressed that true development is not only about the amount of money available but also about how effectively that money is spent, recycled, and reinvested to benefit the widest possible segment of society.
The benefits of this initiative are numerous and far reaching. By providing safe, well structured spaces with solar powered lighting, water, and basic conveniences, small scale traders, farmers, artisans, and food vendors in rural communities will gain additional productive hours for business. Extending market activity into the evening means local producers can sell more, earn higher daily turnover, and strengthen their livelihoods. The ripple effects go beyond individual success stories. Increased trade activity translates into job creation first during the construction phase and later through market operations. Youths, women, and low income earners will benefit most, as evening markets often serve as hubs for food, agricultural produce, and household essentials.
Most importantly, the project gives practical expression to Governor Otti’s philosophy of the velocity of money. By enabling frequent, small scale transactions at the grassroots, money will circulate more rapidly within the economy. A farmer who sells produce in the evening market can immediately use earnings for transport, supplies, or household needs. That simple act triggers a chain of economic activity benefiting transporters, shop owners, service providers, and many others. The faster money moves, the greater the multiplier effect on growth and shared prosperity.
Beyond economics, the initiative addresses critical social and security concerns. Solar powered lighting ensures that commercial activity can continue safely into the evening, discouraging crime and boosting confidence among traders and buyers. These markets will also enrich social life in rural communities by serving as rallying points for interaction, networking, and cooperation. In the long run, they will help curb rural urban migration by creating viable livelihood opportunities locally, thereby retaining talent and enterprise in rural areas.
The construction of these evening markets must be seen as part of a broader transformation agenda under Governor Otti. From the revamping of healthcare and education to the launch of the EU supported SUSI social protection programme, his administration has demonstrated a consistent commitment to inclusive development. By deliberately targeting rural communities with such a forward looking intervention, the governor is ensuring that progress in Abia is not skewed toward urban centres but is evenly spread to benefit the majority.
Unveiling this plan during an interactive media chat further underscores the governor’s openness and his style of direct engagement with the people. It also shows that under his leadership, governance is not about lofty rhetoric but about practical interventions that touch lives in real time. In the months ahead, the evening markets initiative will stand as a living testimony of how visionary leadership can transform simple ideas into powerful drivers of economic growth and social renewal.
– Dr. Ebere Uzoukwa is the Senior Special Assistant to the Governor of Abia on Public Affairs.
