Govt. should tackle hoarding to restore price stability -Economist

Hoarding remain the major source of concern that worsening the price hike of foodstuffs and other essential goods all over the country

The continued raising in the prices of goods and services was a serious challenge to the nation’s economy that required government at all levels to put more measures in checking out the menace.

The Head of Economic Department Federal University Gusau, Dr. Mustapha Kanoma made the assertion in an interview with journalists in Gusau on Tuesday. Adding that the issue, causes untold hardship to the citizens.

“You can imagine how foodstuffs and other essential materials continued to increase in price by the day and with no hope for stability, the government should devise the means of tackling this problem.

“Although removal fuel subsidy was a cause to this ugly development, but hoarding stand the major source of concern in aggravating high price among the essential goods and services”.

Kanoma said the government must end hoarding, reduce taxes and subsidized transport among other measures to improve price stability in the economy.

He said the purchasing power of average Nigerians was at the poverty line, and the palliatives measures introduced by the government failed to arrest the satiation.

“My fear of this was hunger and outbreak of diseases or otherwise  people could take law into their hands by going on mass protest.

The government must ensure food security to achieve law and order, therefore continued increases in the price of foodstuffs and other essential products should be addressed as a matter of urgency.

Already increased in the school fees had sent thousands youths out of the University, thereby raising more young men and ladies on the streets of the country, constituting more threat to the nation’s security.

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