The President Bola Tinubu led-Federal Government through it agency, the Federal Competition and Consumer Protection Commission (FCCPC), has commenced investigation and fact-finding discussions with traders’ associations and marketers in Katsina State to mitigate the ongoing surge in prices of food items and other commodities across the nation.
The commission embarked on an investigative visit to the state, engaging directly with stakeholders from prominent markets, union leaders, traders, and consumers.
The purpose was to gather valuable information that would aid in making informed decisions to tackle the escalating cost of food.
Following the exercise, the FCCPC North-west Zonal Coordinator, Usman Shehu, addressed the press and emphasized that the commission’s primary focus is to facilitate fair competition, safeguard consumer rights, and address the underlying issues impacting food prices.
He said, “The FCCPC’s surveillance efforts suggest participants in the food chain and distribution sector, including wholesalers and retailers, are allegedly engaged in conspiracy, price gauging, hoarding, and other unfair practices to restrict or distort competition in the market, restrict the supply of food, and manipulate and inflate the prices of food indiscriminately.
“These obnoxious, unscrupulous, exploitative practices are illegal under the FCCPA. In this exercise, the commission will develop a concise report of its inquiry and make recommendations to the government by Section 17(b) of the FCCPA and initiate broad-based policies and review economic activities in Nigeria to identify and address anti-competitive, anti-consumer protection and restrictive practices to make markets more competitive while also ensuring fair pricing for consumers.”
Raye24reporters reports that some union leaders and consumers have criticized the government for its failure to effectively control the prices of foodstuffs nationwide.
According to Leadership, a consumer at the Katsina Central Market, Yahaya Mohammed, expressed his belief that the government has the capability to regulate food prices in Nigeria.
He emphasized the importance of the government taking necessary actions to alleviate the hardships faced by families due to the high prices.
On his part, the Zonal Chairman of the Grain Sellers Association, Maje Mai-Madara, accused individuals from neighbouring countries such as Niger Republic, Chad, and Cameroon of contributing to the escalating prices and hoarding of foodstuff in local stores.
