The National Orientation Agency (NOA) has warned traders against hoarding essential food items and inflating prices during Ramadan and Lent.
In a statement issued on Thursday, the agency’s Director-General, Lanre Issa-Onilu, said the agency had received reports that some marketers were deliberately withholding staple commodities widely consumed during the fasting period.
According to him, the practice creates artificial scarcity, pushes up prices and worsens hardship for families already struggling with rising living costs.
Issa-Onilu described the alleged hoarding as “economically disruptive and morally indefensible”, particularly during a season that emphasises compassion, sacrifice and social responsibility.
“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.
The NOA DG warned that deliberate hoarding undermines government efforts to stabilise the economy and fuels inflation.
He stressed that responsible market conduct is both a patriotic duty and a moral obligation, adding that fairness, transparency and moderation in pricing are consistent with national values and religious teachings.
Issa-Onilu also called on trade associations, market unions and commodity groups to enforce discipline among their members and work closely with regulators to ensure compliance with ethical standards.
The agency reaffirmed its commitment to nationwide sensitisation campaigns aimed at promoting value reorientation, economic responsibility and national cohesion.
It said it would continue to monitor market developments and engage stakeholders to safeguard citizens’ welfare during the fasting season.
