The National Orientation Agency (NOA) has cautioned traders and marketers against hoarding food items and raising prices unfairly during the Ramadan and Lent periods.
In a statement issued on Thursday, the agency’s Director-General, Lanre Issa-Onilu, said the NOA had received reports that some traders were deliberately holding back essential food items commonly consumed during fasting.
He said, the practice is creating artificial scarcity and pushing up prices across markets.
Issa-Onilu described the trend as both harmful to the economy and morally wrong, especially at a time when religious teachings encourage compassion and sacrifice.
“This is a period that calls for reflection, charity and empathy for the less privileged. It is deeply troubling that some individuals would exploit this spiritual moment for excessive profit-making at the expense of vulnerable citizens,” he said.
He warned that hoarding essential goods undermines efforts to stabilise the economy, fuels inflation and increases hardship for families already facing difficult conditions.
The NOA chief stressed that responsible market behaviour is not only a patriotic duty but also a moral obligation. He added that fairness, transparency and moderation in pricing reflect national values and align with religious principles observed during Ramadan and Lent.
Issa-Onilu also called on trade associations, market unions and commodity groups to ensure their members act responsibly. He urged them to work closely with regulatory authorities to enforce ethical standards and prevent exploitation.
The agency reaffirmed its commitment to continuous public awareness campaigns across states and local government areas to promote economic responsibility and national unity.
It promised to keep monitoring market activities and engaging stakeholders to protect citizens and uphold national values.
