Hardship: Abuja market chair warns traders against inflation of prices

Chairman of the Wuse Market Traders Association in Abuja, Okorie Ikechukwu-Raphael, has cautioned traders against arbitrary inflation of prices, stressing that their action is worsening the economic hardship being experienced by Nigerians. In an interview on Friday in Abuja, Ikechukwu-Raphael said while government policies are beginning to bring relative stability to the economy, the actions […]

Chairman of the Wuse Market Traders Association in Abuja, Okorie Ikechukwu-Raphael, has cautioned traders against arbitrary inflation of prices, stressing that their action is worsening the economic hardship being experienced by Nigerians.

In an interview on Friday in Abuja, Ikechukwu-Raphael said while government policies are beginning to bring relative stability to the economy, the actions of some traders was undermining the gains.

President Tinubu had directed a Federal Executive Council (FEC) committee to implement urgent measures aimed at reducing food prices nationwide.

The Minister of State for Agriculture and Food Security, Aliyu Sabi Abdullahi, disclosed this on Wednesday at a capacity-building workshop for Senate correspondents in Abuja.

The development followed the alarming food prices in the country.

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Ikechukwu-Raphael said, “Nigerians must do their part. Traders, for instance, should avoid excessive price inflation. The Federal Competition and Consumer Protection Commission (FCCPC) has been advocating against raising prices by 200 or 300 percent.

“Business should have a human face — sell at reasonable rates so that citizens can breathe. Give a human face to the business we are doing.”

Ikechukwu-Raphael maintained that while economic reforms would take time to fully yield results, collective responsibility, moderation in pricing and investment in Agriculture would help Nigerians weather the current hardship.