Lagos market leaders warn traders against unfair pricing

  • 📰 MobilePunch
  • ⏱ Reading Time:
  • 53 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 63%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

Market leaders in Lagos State have warned traders’ associations in markets to refrain from arbitrary pricing and other exploitative practices.

“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. Also speaking, the Iyaloja of Ikorodu market, Alhaja Taofikat Allyson, said prices should be determined by the forces of demand and supply as well as the cost of buying goods.

“Nobody can or should fix prices of any commodity in the market; the prices of goods should be based on the amount you buy at the main market. “No association has the right to fix prices. We understand associations such as that of 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 told NAN.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Good gesture!!!!!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in SG

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Lagos Set To Host South West Advancement Award, Investment SummitAll is now set for Lagos State to host the 3rd edition of Southwest Advancement Award and Investment summit 2023, themed “The New Future, Oiling the wheels of
Source: LeadershipNGA - 🏆 4. / 77 Read more »