Market leaders in Lagos State have warned traders’ associations in markets to refrain from arbitrary pricing and other exploitative practices.
Some of the market leaders gave the warning in separate interviews with the News Agency of Nigeria on Monday in Lagos.
They were responding to complaints that traders’ associations arbitrarily fix the prices of their goods and exploit those who patronise them.
The Iyaloja of a community market in the Ayobo area of the state, Mrs Rukayat Ailero, said traders’ associations were formed to protect the interests of members and not to exploit their customers.
While describing arbitrary fixing of prices as dishonest, Ailero said any association found compelling their members to sell at unfair prices in the market would be sanctioned.
“Traders’ associations, just like professional associations, are formed to protect the interests of their members. They are not formed to harm or exploit those who patronise them.
“It is wrong to say that people should sell at certain prices, most times for profiteering.
”Everyone should be allowed to decide what price to sell his goods and the price has to be fair. We will not allow that. Any association found doing such will be sanctioned and reported to the appropriate authorities,” she said.
Also speaking, the Iyaloja of Ikorodu market, Alhaja Taofikat Allyson, said prices should be determined by the forces of demand and supply as well as the cost of buying goods.
“Nobody can or should fix prices of any commodity in the market; the prices of goods should be based on the amount you buy at the main market.
“No association has the right to fix prices. We understand associations such as that of pepper grinders ask members not to go below certain prices to ensure all members get patronage. If the prices are fair, it is okay. But arbitrary pricing? No,” she told NAN.
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