The Federal Competition and Consumer Protection Commission (FCCPC) has initiated a targeted campaign to address the surging food prices by engaging with trade associations and marketers.
Director of surveillance and investigations at the FCCPC, Ms. Boladale Adeyinka, announced the campaign’s launch at the Masaka Village Market in Karu local government, Nasarawa State.
She said the aim is to pinpoint the factors behind the steep rise in food prices, particularly in staple commodities.
According to Adeyinka, high transportation costs from farms to markets and multiple taxes are the primary culprits driving up food prices.
Additionally, factors like the escalating costs of pesticides and fertilisers, as well as insecurity, have exacerbated the situation.
During the engagement, the Commission gathered insights from market executives, sellers, and consumers to identify challenges and propose solutions. Adeyinka stressed the importance of compiling a detailed report on multiple taxes and providing actionable recommendations to the government.
General chairman of Masaka Market, Karu,Chief Danlami Gimba, highlighted transportation costs as the main driver of food price increases.
He urged the government to consider measures to reduce gasoline prices to alleviate transportation costs and subsequently lower food prices
Traders at the market expressed their concerns, noting that prices of goods had tripled from their suppliers, leading to increased costs for consumers.
Mrs. Naomi Zakari, a yam dealer, cited the example of a trip of yam, which has increased from N15,000 to N50,000 due to high costs of pesticides, fertilisers, and transportation.
A maize seller, Miss Faith Wakili, echoed the sentiment, stating that even dealers are feeling the pinch of the price hike, with many households suffering from hunger as a result.
The FCCPC plans to extend its engagement to various markets within and outside the Federal Capital Territory (FCT) to address the issue of rising food prices