The National Orientation Agency (NOA) has cautioned traders and marketers across the country against hoarding food items or inflating prices during the Ramadan and Lent fasting seasons.
In a statement released on Thursday, the agency’s Director-General, Lanre Issa-Onilu, disclosed that the NOA had received reports of traders deliberately withholding essential food commodities widely consumed during the fasting period. According to him, such actions are creating artificial scarcity and driving up prices in various markets.
Issa-Onilu described the development as damaging to both the economy and societal values, particularly at a time when religious observances emphasise compassion, sacrifice, and support for the less privileged.
He said exploiting the spiritual season for excessive profit-making at the expense of vulnerable citizens contradicts the core principles of Ramadan and Lent.
The NOA boss warned that hoarding essential goods undermines ongoing efforts to stabilise the economy, worsens inflationary pressures, and increases hardship for families already grappling with rising living costs.
He stressed that ethical market conduct is not only a patriotic responsibility but also a moral obligation, adding that fairness, transparency, and moderation in pricing reflect national values and align with the teachings observed during the fasting periods.
Issa-Onilu further urged trade associations, market unions, and commodity groups to ensure compliance among their members. He called on them to collaborate with relevant regulatory authorities to uphold ethical standards and prevent exploitation.
The agency reaffirmed its commitment to sustained public awareness campaigns across states and local government areas aimed at promoting economic responsibility and national unity. It also pledged to continue monitoring market activities and engaging stakeholders to safeguard citizens’ interests.
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