Sen. Aliyu Wamakko, the leader of the All Progressives Congress (APC) in Sokoto State, has urged traders and marketers to adjust prices of goods in line with the current value of the naira, as the currency continues to appreciate against the dollar in both official and parallel markets.
Speaking after breaking the Ramadan fast at his Gawon Nama residence, Sen. Wamakko emphasized the need for traders to reduce prices in response to the strengthening of the naira. He highlighted that while traders previously complained about the high exchange rate of the dollar, the naira has now improved significantly, reaching as low as N1,200 against the dollar from over N1,700.
Expressing concern over traders who fail to lower prices despite the favorable exchange rate, Sen. Wamakko called on the leadership of traders’ associations, particularly in Sokoto State, to intervene and ensure that members lower the costs of goods for the benefit of citizens and the nation’s development.
The breakfast gathering at Sen. Wamakko’s residence included commissioners, academic leaders, management staff of North-West University Sokoto, and APC loyalists, among others.