…Says Exchange rate is reducing.
Emmanuel Clement, Owerri.
The rate at which prices of foodstuff continue to rise has generated a serious concern from citizens. This has become a topic of discussion by many as there is fear that acute hunger would persist, to this end the Member Representing Isiala Mbano State Constituency in the Imo State House Of Assembly, Hon Sam Ikechukwu Osuji has charged traders in the State to compliment the efforts of the Shared Prosperity 3R Administration led by His Excellency Governor Hope Uzodimma by reducing the prices of commodities in the market, especially now that the exchange rate of the naira has considerably improved against other major currencies, especially, the dollars and pounds sterling.
Hon Osuji who made the remark in his office on Monday,while addressing members of the press said traders, importers and other business and economic actors in Imo State should consider the commendable performance of the naira against the dollar, in the last one month, by reducing the prices of goods, especially, essential commodities in the market.
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The vibrant lawmaker, who is the House Committee Chairman On Transport equally appealed to transporters in the State to bring down transport fares, arguing that, with the current realities on the performance of the naira against the dollar, the prices of imported spare parts ought not to be expensive again and this should reflect on transport fares.
He said” The major reason why prices of commodities went up in the market was because of the high exchange rate of the naira, particularly, against the dollar, which exchanged for as much as N1850 to $1. But today, the Naira has gained more value and is exchanging for about N1,150 to $1. ”
“This should reflect on the prices of commodities in the market and transport fares. Our traders and business actors should be considerate, especially, now that His Excellency Senator Hope Uzodimma has concluded arrangement to invest over $1.5 Billion in the state, through Afrexim Bank, which will definitely enhance the quality of life we live, enhance the quality of education and quality of infrastructure, including creating massive employment opportunities for millions of Imo State youths”.he stated
Hon Osuji who is also the Vice Chairman Of House Committee On Environment, therefore urged traders and transporters in the state to quickly align the prices of their commodities and transports fares with the current improved exchange rate of the naira, insisting that the ordinary masses in the state should have a breath of fresh air and that Imo State environment is business friendly,so he can’t fathom why traders cannot reciprocate this good gesture by ameliorating the sufferings of the masses through the reduction of prices of commodities.
The Isiala Mbano Representative thereafter appealed to the leadership of traders Association in all the markets across the state,the lmo state chapter of the National Union of Road Transport Workers to prevail on their members to, without further delay, bring down the prices of their commodities and reduce transport fares, in the interest of the downtrodden and in appreciation for the State Government’s efforts in the development of the state, in all the sectors of the economy.
