Minimum Wage: Association cautions traders against hiking prices of commodities

small business traders

Inflation in Nigeria hits 17.33 per cent


Mr Ken Ukaoha, the president of National Association of Nigeria Traders (NANTS), has cautioned traders against commodities price increase due to implementation of the minimum wage.

Ukoaha gave the advice at a one-day training workshop for NANTS leadership on tracking commitment of political actors to farmers and Traders Charter of demand on Saturday in Katsina.

The legal practitioner said that it was unnecessary and immoral for traders to increase their commodities price due to minimum wage increase.

“Therefore, every trader must avoid the temptation of being lured into such selfish act as a means of enrichment.

“Every trader must realise that hiking prices on one commodity automatically raises prices of other ones,” he said.

The president says no trader deals on all items of need and once a trader raises the prices of his or her commodity, others will jerk up the price of their commodities.

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Ukoaha said that the farmers and traders had made arrangements with the political actors in the country before the 2019 General Elections.

“During the 2019 general election campaign, the politicians and traders entered into an agreement.

“As the largest voting population in Nigeria, the association will hold politicians accountable to good governance.

“We gather to possess the capacity to track this commitment so that our efforts of voting politicians into offices will not be in vain.”

Earlier, the Katsina State Coordinator of NANTS, Alhaji Ibrahim Suleiman, urged members to be proactive towards monitoring the agreements made with political actors.

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