• About
  • Privacy Policy
  • Contact
Tuesday, June 3, 2025
No Result
View All Result
NEWSLETTER
Diplomatic Info
  • Home
  • Diplomacy
  • Embassy News and Info
  • Events
  • Nigeria
  • Business
  • Politics
  • Security
  • Cover Story
  • ECOWAS
    • Togo
    • Sierra Leone
    • Senegal
    • Nigeria
    • Niger
    • Mali
    • Liberia
    • Guinea Bissau
    • Guinea
    • Ghana
    • The Gambia
    • Cote D’Ivoire
    • Cabo Verde
    • Burkina Faso
    • Benin
  • Advertise
    • mail
  • Home
  • Diplomacy
  • Embassy News and Info
  • Events
  • Nigeria
  • Business
  • Politics
  • Security
  • Cover Story
  • ECOWAS
    • Togo
    • Sierra Leone
    • Senegal
    • Nigeria
    • Niger
    • Mali
    • Liberia
    • Guinea Bissau
    • Guinea
    • Ghana
    • The Gambia
    • Cote D’Ivoire
    • Cabo Verde
    • Burkina Faso
    • Benin
  • Advertise
    • mail
No Result
View All Result
Diplomatic Info
No Result
View All Result
Home ECOWAS Nigeria

Market leaders warn Lagos traders against fixing prices arbitrarily

by Diplomatic Info
April 3, 2023
in Nigeria
0
Market leaders warn Lagos traders against fixing prices arbitrarily
0
SHARES
7
VIEWS
Facebook ShareShare on WhatsAppTweet it!

Market leaders in Lagos have warned traders’ associations to refrain from imposing uniform prices on their goods and other exploitative practices.

Some market leaders, in separate interviews, responded to complaints that traders’ associations arbitrarily fix the prices of their goods and rip off those who patronise them through other exploitative practices.

Rukayat Ailero, the Iyaloja of a community market in the Ayobo area of the state, said traders’ associations are formed to protect members’ interests and not exploit their customers.

While describing arbitrary fixing of prices as dishonest, Ms Ailero said any association found compelling their members to sell at certain prices in the market would be sanctioned.

“It is wrong to say that people should sell at certain prices, most times for profiteering. Everyone should be allowed to decide what price to sell his goods, and the price has to be fair. We will not allow that. Any association found doing such will be sanctioned and reported to the appropriate authorities,” she said.

Ms Ailero urged traders, especially those who sell staples like rice, beans, and garri, to ensure their customers always get value by using standard measures to sell to them.

Taofikat Allyson, the Iyaloja of the Ikorodu market, said traders’ associations have no right to compel their members to sell at certain prices, describing the practice as unfair.

She said prices should be determined by the forces of demand and supply and the cost of buying goods.

“No association has the right to fix prices. We understand associations such as pepper grinders ask members not to go below certain prices to ensure all members get patronage. If the prices are fair, it is okay. But arbitrary pricing? No,” she explained.

Taibat Tijani, the Iyaloja General of the Agege market, also warned traders’ associations against fixing the prices of their commodities. She said customers deserve to be treated well by traders as they are the ones who sustain their businesses through patronage.

“Traders here in Agege sell their goods according to how he or she gets them from the supply source. To the best of my knowledge, no one is compelling traders to sell at high prices here at the market,” she said.

Some traders’ associations also denied fixing prices of goods and services, saying the allegation was baseless.

Wasiu Alade, the vice-chairman of the Ifelagba Butchers’ Association, Badagry, said the association had no business fixing prices. According to him, the prices at which members sell mutton, beef, or goat meat depend on the amount they buy at the Alaba Rago market.

Grace Godonu, the chairman of Itesiwaju Frozen Foods Association, Agbalata Market, Badagry, said the association does not fix prices and only helps members grow.

“If you like, you can sell your fish or chicken less so that customers can patronise your shop; at the end of the day, you will know if you have gained or run into debt,” she said.

She said members of the association meet every Sunday to deliberate on issues affecting members of the association.

(NAN)

Diplomatic Info

Diplomatic Info

Next Post
CSJET praises Mahmood Yakubu, warns disgruntled Atiku, Obi, others against blackmailing INEC

CSJET praises Mahmood Yakubu, warns disgruntled Atiku, Obi, others against blackmailing INEC

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Argentina’s Milei, Italy’s Meloni among first foreign leaders to attend US presidential inauguration

Argentina’s Milei, Italy’s Meloni among first foreign leaders to attend US presidential inauguration

4 months ago
Rejecting environmental claims, U.S. judge gives ok to lithium mining

Rejecting environmental claims, U.S. judge gives ok to lithium mining

4 years ago

Popular News

  • Israeli president says situation ‘very serious’ amid judicial overhaul debate

    Israeli president says situation ‘very serious’ amid judicial overhaul debate

    0 shares
    Share 0 Tweet 0
  • Ethiopia to receive 2.2 million doses of COVID-19 vaccines

    0 shares
    Share 0 Tweet 0
  • Buhari arrives Washington for U.S.-Africa leaders summit

    0 shares
    Share 0 Tweet 0
  • Senate set to screen Service Chiefs this week, says Ndume

    0 shares
    Share 0 Tweet 0
  • Nigerian students take over roads leading to Lagos international airport

    0 shares
    Share 0 Tweet 0

Connect with us on Facebook

Subscribe to Our Newsletter

Enter your email now to join our community of readers, and get new contents straight to your inbox

We promise to not spam you

Thanks for joining in.

Category

  • Africa
  • Benin
  • Burkina Faso
  • Business
  • Cote D'Ivoire
  • Cover Story
  • Diplomacy
  • ECOWAS
  • Education
  • Embassy News and Info
  • Events
  • Ghana
  • Guinea
  • Guinea Bissau
  • International
  • Liberia
  • Mali
  • News
  • Niger
  • Nigeria
  • Politics
  • Programs
  • Security
  • Senegal
  • Sierra Leone
  • The Gambia
  • Togo
  • Uncategorized

Quick Links

  • About
  • Contact
  • Privacy Policy
  • Advertise

About Us

Providing strategic insights into important social, cultural, political, and economic factors that significantly influence business and nations, Diplomatic Info will examine these critical issues and provide strategies that create competitive advantages.

© 2023 Diplomatic Info - Built with Love by Creovantage.

No Result
View All Result
  • Home
  • Diplomacy
  • Embassy News and Info
  • Events
  • Business
  • Politics
  • Security
  • News
  • Cover Story
  • Africa
  • ECOWAS
    • Togo
    • Sierra Leone
    • Senegal
    • Nigeria
    • Niger
    • Mali
    • Liberia
    • Guinea Bissau
    • Guinea
    • The Gambia
    • Cote D’Ivoire
    • Ghana
    • Cabo Verde
    • Benin
    • Burkina Faso
  • International
  • Contact

© 2023 Diplomatic Info - Built with Love by Creovantage.