Okrika Business in Nigeria: Important Facts
What do you think the second-hand business in Nigeria is worth? A million dollars? Likely way more than that. A billion? Possibly.
Okrika is a phenomenon all by itself.
Before we go even further, lets take this moment to set the record straight about this iconic name that has worked its way into the core fabric of our national lingua - all 450 or so of them.
Okrika is actually the name of a coastal town in Rivers State, Nigeria, situated on a small island south of Port Harcourt. They speak the Kirike language and Igbo also a common language there. Being a port town, it is the location where slaves were bought and sold in the 17th Century, before the abolition of slave trade. That kind of has made the name to be associated with second hand trading ever since.
Enough about the people. Now unto the business.
What is the Okrika Business?
Okrika, also known by other cool monikers like tokunbo, belgium, bend-down-select, etc, is the business of buying (and reselling, if that's how you roll) of [fairly] used clothing, shoes, belts, cars and, quite simply, anything that can be sold for a price less than that of the brand new version.
I did say it is a phenomenon, didn't I?
For the purpose of this post, we shall be focusing on the textile end of this magnificent trade.
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Where do They Come From
Okrika items come from many places, predominantly The United States, The United Kingdom and some countries in Europe and Asia. These fairly used items come in various grades and are packed as such, depending on their state - how close they are to the original in quality or their level of fading.
First grade bales are rated as the best being that they are next to new brands in quality. You also have Second grade which is good as well, and then third grade which is lowest and attracts the cheapest price.
Where to Get Them
Depending on your volume of transaction, there are a number of places you can purchase (and sell) good Okirika in Nigeria. For small scale transactions, you may go to any standard textile market across the country. But for wholesale and large scale transaction, there are the famous Onitsha and Aba markets to reckon with in that regard.
But Lagos is the go-to place for the Okrika business in Nigeria - especially for those looking to start the trade. You have the Yaba, Idumota, Balogun and other large markets across the city to find Okrika dealers.
Interestingly, the Katangua market situated at Super Bus Stop, Lagos/Abeokuta Express Road is known as the biggest and busiest bale (Okrika) market in Nigeria and happens to be the place of choice for most people looking to purchase them in large quantity.
In an economy where the unemployment rate is alarmingly high, many have delved into this business and are happier for it as it is allegedly very profitable. Well, it has to be, what with it being so prevalent and whatnot.
