Traders union vows to end illegal price fixing

The National Union of Market Traders Employers of Nigeria (NUMTEN) has pledged to end illegal price fixing and exploitation in Nigerian markets
Mr James Chukwuma, NUMTEN President made the pledge while receiving the union’s Certificate of Registration from the Nigeria Labour Congress (NLC), on Wednesday in Abuja.
The News Agency of Nigeria (NAN) reports that NUMTEN is the newest affiliate of the NLC.
Chukwuma said that the unstable market prices was worrisome to Nigerians and one of the objectives of the union is to ensure market reform.
“We are going to work with the market traders, distributors, manufacturers and even government to ensure that prices are regulated,” he said
He added that the union would protect traders from persistent exploitation and victimisation by unscrupulous elements hiding under the garb of the government.
According to Chukwuma, NUMTEN has been registered to liberate helpless market traders from persistent intimidation and extortion in the hands of illegal market associations.
“This unlawful act perpetrated by these illegal impostors have caused grievous bodily harm to the market traders, with people losing their life on a daily basis on the account of the encounters.
“The idea is to tackle all the identified challenges, including, non-conducive trading environment, unrealistic business profit, unstable market prices, incessant lost of properties in the market from fire outbreak,” he said.
Chukwuma said that NUMTEN is a symbol of hope to salvage government revenue being siphoned by minority individual and illegitimate association.
He said the union would ensure that the right revenue goes into the government purse, and the labour of its members would not be in vain any longer.