Dollar crash: Wamakko tasks traders on compassion

Senator Aliyu Magatakarda Wamakko has passionately appealed to traders in the country to ease the pains of inflation by selling goods at discounted rates.

The lawmaker's appeal is coming in the wake of the crash of the dollar from an all-time rate of N1,900 down to N1,250, saying this 40% increase in Naira's value offers a golden opportunity for traders to demonstrate their compassionate side as Nigerians.

Wamakko made the appeal during Ramadan breakfast with some senior officials of the Sokoto State Government and prominent people from the academia at his Gawon Nama Sokoto residence on Tuesday.

He said those traders who have been complaining that the rise in the value of dollar against the naira has made it difficult to bring down can now leverage on the new opportunity to demonstrate their compassion, especially in this holy month.

The lawmaker explained that the leadership of the traders’ association, especially in Sokoto state need to prevail on their members to lower the high costs of the goods to ease the suffering in the land, by taking advantage of government's unrelenting efforts to revive the Naira.

It would be recalled that the naira, on Monday, appreciated to N1,250 per dollar at the parallel section of the foreign exchange (FX) market.

Oga, keep your advice, address it to the government instead.

How can you advice business owners to reduce the prices, do you know how much they bought their goods for? Did you follow him to the market to dodge bandits and herdsmen bullets, police harassment and agbero extortion? Do you sometimes ask how they manage to power their business with generators in this high cost of diesel and petrol?

Some of you have a warped idea of business, and that you have never ran one single business is affecting your judgment.

In summary, dollar rise is just one out of the over 10 things that pushed prices up. Address the dollar first, because the bulablablu took it from #700 to #1250, shave the #550 first, then we can talk about those other 9 problems.

Sanu.

Dollar crashing has nothing to do with the cost of goods in the market presently. Some traders bought these goods when the dollar was #1900 Do you expect them to sale at a loss?. Again the manufacturers have not reduced their price because the cost of production is so high. Electricity comes to mind and government is talking about removing tariffs from electricity and we expect goods to come down. I don't think is possible for now.

Was he munching hot yam when he spewed this? Cos the statement is too dastard (?? Lol)

COMRADES, this is a pro tinubu post, it will hit the front page

Omo electronics price don crash oo. Hisense 32 inches smart selling at 260k is now 190k. So other electronics

123yes:
Dollar crashing has nothing to do with the cost of goods in the market presently. Some traders bought these goods when the dollar was #1900 Do you expect them to sale at a loss?. Again the manufacturers have not reduced their price because the cost of production is so high. Electricity comes to mind and government is talking about removing tariffs from electricity and we expect goods to come down. I don't think is possible for now.

Leave Grammer. When dollar suddenly peaked, even old your old stocks were sold at the new price regime. So what is your point?

Our business men are so funny, as dollars was rising, even people who had old stock follow increase there price.
Now dollars is dropping
Story don change.
I wish Nigerian can neglect some commodities like Indomie, they will b forced to crash price due to low demand