MINIMUM WAGE: NANTS Caution Traders, Others Against Price Hike

The National Association of Nigerian Traders (NANTS) has cautioned members  across the country from price increase in commodities, following the new minimum wage regime increase.

 

NANTS explained that unjustified increase of commodities would not be tolerated at all from the body

 

Recall that the Federal Government recently approved N30, 000 minimum wages for all cadres of workers across the country.

President of the NANTS,  Mr. Ken Ukaoha, who gave the warning on Monday in Abuja said that every trader must avoid the temptation of being lured into such selfish act as a means of enrichment and must realize that hiking prices on one commodity automatically rises of others

 

Ukaoha spoke at ‘the Training Workshop for NANTS Leadership on Tracking the Commitments of Political Actors to the Farmers Manifesto and Traders Charter of Demands”.

 

Ukaoha however noted that “And no trader deals on all items of need. Therefore, once a trader raises the price of his or her commodity, the seller of the commodity she or he needs will also jack up in the same manner and this negative circle will only be multiplying poverty to everyone and dealing a dirty blow on the overall economy which has further implications on everyone,” he said.

 

The NANTS boss also urged the Government to urgently find solution to the worsening insecurity situation in the country as traders currently are refraining from traveling to most parts of the North for fear of being kidnap or killed.

 

He said, “Life is speedily becoming worthless. The economy, especially of the North is speedily losing grip; farmers are dislodged from their farms courtesy of insurgency and crises with herders, and productivity is grossly reducing.

 

“Traders on their part are getting scared of moving the few goods available towards the required market destinations.”

 

Ukaoha said that before the last General Elections, the NANTS systematically developed two demand documents, the ‘Farmers Manifesto’ and the ‘Traders Charter of Demands’ which articulated their challenges, concerns, interests and priorities as a bargaining document with which they negotiated with political actors.