FCCPC Investigates Causes of Rising Food Prices Nationwide, Blames Fuel Subsidy Removal, Insecurity
A survey recently conducted by the Federal Competition and Consumer Protection Commission (FCCPC) has revealed that traders in major food markets in Nigeria have blamed the rising food prices in the country on insecurity and fuel subsidy removal.
According to FCCPC, the move was aimed at finding the major reason for the constant hike in the prices of food items in the country in a bid to advise the government on the best policy to tackle the issue.
The FCCPC disclosed that it had been conducting fact-finding interactions with traders’ associations and marketers to ascertain factors responsible for the continuous hike in food prices.
While speaking during a tour of some major markets in Lagos State, including Mile 12 International Market, Ketu, and Ilepo Market, on Wednesday, the Head of FCCPC in the state, Mrs Sussie Onwuka, explained that the exercise was a fact-finding mission.
There had been constant complaints, she said, by Nigerians about the constant hike in the prices of food commodities in the market, adding that the government was concerned.
She added: “And because of our mandate to protect the consumer and to also advise the government, we have to conduct an investigation and come up with a report that would help the government put good policies in place, so we have to come out to the source and talk to the market executives.”
She noted that the commission had talked with market people to find out what the real reason for the constant hike was and put up a report.
She said the major complaint by traders was insecurity in the country.
“From what the people we have spoken to said, the major complaint is the insecurity in the country. The farmers can’t go to the farm; fuel scarcity has made the cost of transportation go up, and the costs are added to the cost of the goods.
“And they complained about rain affecting grain. There are many reasons attached to the constant hike in the prices of food commodities,” she disclosed.
Earlier in his own remarks, the Chairman of Mile 12 International Market, Shehu Jibril, said that the major cause of the hike was insecurity, as most farmers in internally displaced persons camps could no longer access their farms.
His words: “Most of the people in all the IDP camps across the country are farmers, and now they can’t farm because of insecurity. The government should ensure security so that these people can return to their farmlands. That is the only way to tackle the constant hike in food items.”
Jibril stated that the association had started engaging the Lagos State Government, particularly the Ministry for Agriculture, to provide them with farmland.
“It is ongoing; the commissioner is willing and has promised us. So, we are still on the matter,” Jibril stated.
He added that the association was engaging with the farmers in Lagos to start cultivating other food commodities like tomatoes, among others.
“We can supplement some things we are doing. You know we have farmers in Lagos already who are farming all these lands. So, we are engaging them to start also doing tomatoes and some other things that people can eat in Lagos,” he remarked.
Speaking also, the General Secretary of Ilepo Market, Olatunji Majester, who noted that the prices of food items were going up because of insecurity.
“Most of the goods witnessing a constant hike in prices are due to insecurity. Secondly, people add the logistics costs, including fuel, repairs to the trucks, and all that. And you know that the haulage cost differs, and you know the cost of diesel is getting high now,” he explained.
The country’s food inflation stood at 40.53 per cent at the end of April, according to the National Bureau of Statistics.
