Economy
HOARDING has remained the major source of concern worsening price hike of foodstuffs, other essential goods and services all over the country.
The continued rising in the prices of goods and services was a serious challenge to the nation’s economy that required government at all levels to put more measures in checking the menace.
The Head of the Economic Department, Federal University Gusau, Dr Mustapha Kanoma made the assertion in an interview with the News Agency of Nigeria (NAN), in Gusau on Tuesday.
Kanoma noted that hoarding had caused untold hardship to the citizens.
“You can imagine how prices of foodstuffs and other essential commodities continued to increase by the day and with no hope for stability, government should device the means of tackling this problem.
“Although fuel subsidy removal was a cause to this ugly development, but hoarding stand the major source of concern in aggravating high price among essential goods and services,” he said.
Kanoma said government must end hoarding, reduce taxes and subsidise transportation among other measures to improve price stability in the economy.
He said the purchasing power of average Nigerians was at the poverty line, and the palliatives measures introduced by the government failed to arrest the situation.
“My fear to this is hunger and outbreak of diseases or otherwise people could take law into their hands by going on mass protest.
“The government must ensure food security to achieved law and order, therefore continued increased in the price of foodstuffs and other essential products should be addressed as a matter of urgency.
“Already increase in the school fees had sent many youths out of the University, thereby raising more youths on the streets, constituting more threat to the nation’s security. (NAN)
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-March 05, 2024 @ 16:08 GMT|
Tags: Dr Mustapha Kanoma
