Nigerian First Lady calls for price stability

Nigerian First Lady calls for price stability
Gloria Essien, Abuja.

The Nigerian First Lady, Patience Jonathan, has appealed to market women not to increase prices of their goods arbitrarily during the fasting period.

In a statement signed by Special Assistant (Media) to the First Lady Mr Ayo Osinlu,  in Abuja, she urged the women to shun undue profiteering.

"The Holy month of Ramadan is a time for sober reflection when Muslim faithful are expected to get closer to Almighty Allah and pray for forgiveness of sins and socio-economic development of Nigeria,” Mrs Jonathan pointed out.

She also noted that "Islam forbids undue profiteering and advised the market women and all involved not to see the period as one to make money as this would amount to a disservice to Almighty Allah and humanity."

The President's wife equally called on all Muslims to pray for peace, unity and religious tolerance saying "no meaningful development can take place in the absence of peace and tranquillity".

Call for food security

Economic analysts however, believe that creating an enabling environment that will foster food security will ensure that prices are controlled in Nigeria.

They pointed out that constant availability of food materials, would put the prices of food items naturally under steady control, as the law of demand and supply would naturally take its course.

They called for a good transport system that would enable farmers in the rural areas of the country move their farm produce to the urban part of the country where there are needed in large quantity.

They also urged the government to look into the provision of good storage system that would ensure an all-year-round availability of farm produce.

These modalities if put in place, they said, would naturally regulate the prices of commodities, pointing out that a call for price stability is not enough to ensure price control.

The month-long fasting period, which is one of the five pillars of Islam, began on August 1.

Williams