Economy
Agbo Edo, a forest land which belonged to Edo Nnewi deity was cleared to make way for a new market called Nkwo Nnewi market. The development of this market propelled the fast development of the local economy.
As a fast developing city and a major industrial and commercial hub in Africa, Nnewi experiences voluminous financial activities, therefore hosts major banks, and other financial institutions. Industries are dotted around the city and adjoining towns. Palm oil, cosmetics, motor, and motorcycle spare parts, books, and stationeries, textiles, electric cables, and so on are produced in commercial quantity in the area. As a result, Nnewi is commonly refers to as the “Japan of Africa". Its main trading centers include, Nkwo Nnewi market (the largest spare parts market in west Africa) and Nwafor market, Eke Amaobi market, Eke Ochie, Eke Ichi Market, Orie otube Market, etc.
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Famous quotes containing the word economy:
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)