Bauchi — The Federal Competition and Consumer Protection Commission (FCCPC) has met with market leaders, traders and other stakeholders in Bauchi to find out reasons for the daily increase in food prices in the market.
Acting Executive Vice Chairman of the FCCPC, Dr Adamu Abdullahi , while briefing newsmen yesterday in Bauchi, said we had engagement with market leaders of Muda Lawal and Railway markets.
He lamented that prices of food items in the market continue to rise despite the frantic efforts made by the government to stabilise the prices of goods and services, " doesn't yield any result."
Abdullahi, , represented by North-east, Zonal Coordinator of the Commission, said the team was on a fact-finding mission to understand why the prices of food items continue to rise in spite of federal government's efforts to curb the menace.
He explained that the team of the FCCPC was in the market to interact with executive members of the Traders' Association, traders and consumers.
According to him, "The commission's priority remains to unlock the markets and address key consumer protection and competition issues affecting the prices of commodities in the food sector.
"FCCPC's surveillance efforts suggest participants in the food chain and distribution sector including wholesalers and retailers are allegedly engaged in conspiracy, price gouging, hoarding
"Other unfair tactics to restrict or distort competition in the market, restrict the supply of food, manipulate and inflate the price of food in an indiscriminate manner.
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"These obnoxious, unscrupulous, exploitative practices are illegal under the FCCPA," Abdullahi said.
The vice chairman added following this exercise, the commission would develop a concise report of its inquiry and make recommendations to the government in accordance with Section 17(b) of the FCCPA.
"As well 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," he Said.
Also speaking during the engagement, Malam Bala Maikaji Chairman, Muda Lawal Market Association, attributed hike in prices of food items to millers of rice and feeds who always buy all the farm produce in large quantities to boost their business leaving the poor to the mercy of God.
He also blamed the removal of the fuel subsidy as being responsible for the high cost of goods in the market.
The chairman appealed to the government to encourage general farming by providing farm inputs to farmers and to provide a conducive atmosphere for farmers in the country.
Maikaji also called on the government to reduce the price of fuel to ensure that the cost of transportation is greatly reduced, which would in turn impact positively on the prices of food items.
