The Chairman of Wuse Market Traders Association, Abuja, Mr. Okorie Ikechukwu-Raphael, has cautioned traders against arbitrary price hike of items, blaming the worsening economic hardship in the country on profiteering.
Okorie, who spoke to newsmen in Abuja, argued that, while government policies are beginning to bring relative stability to the economy, the actions of some traders might undermine the gains.
He 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 per cent. 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.” He further urged citizens to play their part in stabilising the economy, stressing that national recovery cannot be left to the government alone.
According to him: “The administration of President Bola Tinubu has made progress in taming volatility in fuel prices, exchange rates and food costs, which now fluctuate within a manageable margin of two to five percent.
“Last year, I noted here that the president was working hard to stabilise the economy amid turbulent exchange rates, fuel price fluctuations, and rising food costs. At that time, I predicted that by 2025, we would be on ‘cruise control.’
