Senator Aliyu Wamakko, leader of the All Progressives Congress (APC) in Sokoto State, has urged traders across the country to reduce their prices in response to the strengthening naira.
Wamakko made the call on Tuesday after breaking the Ramadan fast with commissioners and academics at his residence.
He pointed out that the naira has recently appreciated against the dollar, reaching a low of N1,259 compared to the previous high of over N1,800.
Previously, Wamakko noted, traders had justified higher prices due to the weakened naira. However, he expressed disapproval of those who haven’t adjusted their pricing strategies despite the improved exchange rate.
“Some traders refused to appreciate the efforts of the government by bringing down the dollar exchange,” Wamakko said in a statement released by his media aide, Bashar Abubakar. “They have continued to increase the prices of commodities exorbitantly.”
Wamakko appealed to leadership of traders’ associations, particularly in Sokoto, to encourage their members to lower prices for the benefit of citizens and national development.
The Senator’s call comes amidst ongoing concerns about inflation and the high cost of living in Nigeria. A stronger naira could potentially lead to a decrease in import costs and a subsequent reduction in consumer prices.
Joining Senator Wamakko for the Ramadan fast-breaking event were several commissioners, including Aminu Magaji Bodai (Tourism), Dr. Jabir Sani Maihiula (Religious Affairs), and Sharifu Abubakar Kamarawa (Home Affairs).
Representatives from the North-West University Sokoto, led by Registrar Umar Abubakar Garun Babba, were also present. Additionally, other politicians and APC loyalists participated in the gathering.
