In light of the recent minimum wage increase, the President of the National Association of Nigerian Traders (NANTs), Mr. Ken Ukaoha, has issued a strong warning to traders across the nation, urging them to avoid unjustifiable hikes in commodity prices. Speaking in Abuja on Monday during a workshop organized for NANTs leadership, Ukaoha emphasized the detrimental impact of price inflation on the economy and the nation’s citizens.

“It is both immoral and unjustifiable to raise prices in response to the minimum wage adjustment,” Ukaoha stated. “Such actions are not only harmful but contribute to an endless cycle of inflation that burdens everyone. No trader handles all essential goods, yet a hike in one item inevitably causes a ripple effect on other commodities.”

Ukaoha further warned that price hikes would deepen poverty and destabilize the economy, which is already struggling with widespread insecurity. He also urged the Federal Government to address the worsening security challenges, particularly in the northern region, which has severely impacted the ability of traders and farmers to move goods safely.

The workshop, he added, aims to train traders on monitoring political leaders’ commitment to the Farmers’ Manifesto and Traders’ Charter of Demand, ensuring that their interests are safeguarded amid the country’s current challenges.