The Chairman of the Wuse Market Traders Association in Abuja, Mr. Okorie Ikechukwu-Raphael, has cautioned traders against arbitrary inflation of prices, stressing that excessive profiteering worsens the economic hardship faced by Nigerians.
Speaking to journalists in Abuja, he said government reforms under President Bola Tinubu were beginning to bring relative stability in fuel prices, exchange rates, and food costs, which now fluctuate within a "manageable margin of two to five percent." He warned that indiscriminate price hikes risk undermining these gains.
Ikechukwu-Raphael urged traders to adopt fair pricing in line with advocacy by the Federal Competition and Consumer Protection Commission (FCCPC), adding that "business should have a human face so citizens can breathe."
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He identified insecurity and poor infrastructure as the biggest threats to food production but commended ongoing interventions by the National Security Adviser, the Ministry of Works, and private sector players such as the Dangote Refinery. He also highlighted Nigeria's agricultural partnership with Brazil for high-yield crop imports.
The market leader further called for a national orientation drive to instill discipline and productivity among youths, stressing that economic reforms would only succeed if Nigerians embrace hard work, moderation in pricing, and collective responsibility.
