- The FCCPC is engaging traders’ associations and marketers to address the factors driving the persistent rise in food prices
- Transportation expenses from farms and multiple taxations are identified as significant contributors to the elevated food costs
The Federal Competition and Consumer Protection Commission (FCCPC) has initiated discussions with traders’ associations and marketers to understand the factors contributing to the persistent rise in food prices despite strengthening the naira against the dollar.
Boladale Adeyinka, the Director of Surveillance and Investigations at the FCCPC, led her team to the Masaka village market in Karu Local Government Area of Nasarawa State to engage with stakeholders and address the issue of high food costs.
Adeyinka highlighted transportation expenses from farms and multiple taxations as significant factors behind the elevated food prices. She emphasized that the FCCPC aims to compile a comprehensive report on these taxes and offer recommendations to the government on alleviating or eliminating them.
“This is an investigative mission to gather insights directly from the source. Our campaign to lower food prices continues. We are here to engage with market executives, sellers, and consumers,” Adeyinka stated.
During discussions with the market executives, it was confirmed that transportation costs significantly contribute to the escalation of food prices. Danlami Gimba, the chairman of Masaka market, urged the government to consider reducing petrol prices to alleviate transportation costs, which would consequently decrease food prices.
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