FG Warns against Panic Buying, Price Hike


James Emejo in Abuja

The federal government monday warned Nigerians against acts of panic buying, products adulteration and hoarding, adding that the government is working closely with manufacturers and other stakeholders to minimise the impact of the COVID-19 pandemic.

The Minister of Industry, Trade and Investment, Mr. Niyi Adebayo also stated that the government will continue to do everything possible to support industries to sustain their operations and where necessary stimulate a surge in production of essential commodities particularly medicines and sanitary products.

Speaking at a joint media briefing with the Manufacturers Association of Nigeria (MAN) in Abuja, following two days of deliberations on how to manage the impact of the pandemic in the country, the minister said his ministry had taken measures to proactively address the challenges, potential threats and impact of the pandemic on the domestic economy.

He said all measures necessary to protect and promote the health and safety of industrial and related workers, their families, communities and the country at large were currently being put in place.