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Sallah: Salary delay triggers crash in ram price

The price of rams in the Federal Capital Territory (FCT) has crashed from its initial rate, with traders linking the situation to a delay in…

The price of rams in the Federal Capital Territory (FCT) has crashed from its initial rate, with traders linking the situation to a delay in this month’s salary payment. 

Daily Trust reports that the executive wing of government at the federal level, which includes ministries and agencies is yet to effect the June salary payment as of Tuesday afternoon, a situation that negatively affects the seasonal ram trade in the nation’s capital.

Mallam Mahmuda Bunkure, a ram trader around Kubwa expressway in Abuja said a ram of about two hundred thousand naira two days ago, has dropped to one hundred and fifty thousand naira on Tuesday. He described the situation as scary, going by the cost of the animals from their source of supply and coupled with the increment of transportation charges, among other logistics.

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Another ram trader around the makeshift market identified as Sulaiman Muazu said he has spent about seven years in the ram supplying business to the FCT during the annual festivity, however, the trader said he is yet to see his regular customers, as most of them were lamenting about the delay in their salary.

A ram buyer Muhammed Kashim said he used to buy about 7 rams every year but he has to purchase two this year, due to the economic realities.

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