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Dollar Crash: Wamakko Tasks Traders To Reduce Goods Price

Senator Aliyu Magatakarda Wamakko has passionately appealed to traders in the country to ease the pains of inflation by selling goods at discounted rates in line with the drop in dollars price and strengthening of the Naira....CONTINUE READING

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.

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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.

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The senator 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.

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