FG SETS DEADLINE FOR TRADERS TO SLASH PRICES AFTER PRICE DISCREPANCIES IN ABUJA

In a recent development, the Federal Government of Nigeria has intervened in the pricing crisis affecting traders in Abuja. The government has issued a deadline for traders to adjust their prices, following revelations of significant price discrepancies. Reports indicate that items bought for N140,000 were being sold for as high as N945,000, sparking concerns over inflated pricing.

The intervention comes in response to widespread public outcry and complaints about the dramatic markups, which have strained household budgets and fueled economic uncertainty. The government has mandated that traders comply with new pricing regulations by the set deadline to stabilize the market and protect consumers from exorbitant costs.

Authorities have emphasized that the deadline is critical for restoring fairness in pricing and ensuring that goods remain affordable for the average Nigerian. The move is part of a broader effort to address economic imbalances and curb price gouging in the market.

Traders are urged to adhere to the new regulations, with the government promising increased oversight and enforcement to ensure compliance. The initiative aims to bring relief to consumers and reestablish trust in market practices. Further updates will be provided as the situation develops.