FCCPC begins fact-finding engagements in markets to crash food prices

The Federal Competition and Consumer Protection Commission (FCCPC) has commenced fact-finding engagements with trade associations and marketers to determine factors responsible for the continuous hike in food prices.

Ms. Boladale Adeyinka, the Director of Surveillance and Investigations of the Commission, said on Friday at Masaka Village Market, Karu Local Government, Nasarawa State, that the mission was geared towards crashing the prices of food.

Adeyinka said that the findings in the market showed that transportation costs from the farm to the market and multiple taxes were major reasons for the high cost of food in the markets.

She said that other factors, like the high cost of pesticides and insecurity, had also contributed to the hike in food prices.

Adeyinka said the Commission would develop a concise report of all the multiple taxes and advise the government on how to unlock, remove, or reduce the taxes.

“This is a fact-finding mission, an investigative mission to gather information directly from the sources. The food price campaign continues.

“We are here to come and find out from three levels of stakeholders: market executives, sellers, and consumers.

“This is a big market for direct food supply from the farms to the market, so we wanted to see the value chain interact with cost variables.

“We had a meeting with the market executives to find out if they are issuing levies, taxes, and other things that are added to the cost, starting from the farmer to the sellers,’’ she said.

Chief Danlami Gimba, the General Chairman, Masaka Market, Karu, said that transportation was the major cause of the hike in food prices.

Gimba appealed to the government to reduce the price of gasoline to help crash transportation costs, which would help reduce the prices of food items.

Some traders who spoke during the engagement said the prices of their goods had tripled from their suppliers, hence the reason for the hike in prices for consumers.

Mrs. Naomi Zakari, a yam dealer at the market, said that one trip of yam containing 100 tubers that was sold to them in Benue State for N15, 000 is now being sold for N50, 000.

She said the suppliers had attributed the hike in the price to the high cost of pesticides, fertilisers, and transportation.

Zakaria, however, appealed to the federal government to reduce the price of fuel.

Miss Faith Wakili, a seller of maize, said that even the dealers were complaining of the hike in price, adding that hunger was ravaging many households.

Supreme News reports that FCCPC will take its engagement to various markets in and out of the Federal Capital Territory (FCT).