FCCPC Urges Nigerians to Exercise Patience Over Food Price Hikes

The Federal Competition and Consumer Protection Commission (FCCPC) has called on Nigerians to remain patient amid the rising food prices nationwide. The commission reassured that the Federal Government is actively addressing the issue.

During an interactive session with traders at Dawanau and Galadima Markets in Kano on Tuesday, the acting Executive Vice Chairman of FCCPC, Dr. Adamu Ahmed-Abdullahi, emphasized the government’s commitment to resolving the situation.

“The hike in food prices has been a major worry to the present administration of the Renewed Hope Agenda of President Bola Tinubu and the government is making efforts to ensure things get better for Nigerians,” said Dr. Ahmed-Abdullahi.

He explained that the commission’s visit aimed to understand the factors behind the price hikes. “After our interactions with traders, we have been able to gather some facts that will guide the commission in advising the Federal Government, in line with Section 17(b) of the FCCPC Act. The commission’s concern is to tackle issues affecting consumers, especially prices of commodities, to ensure fair market practices.”

Market union leaders and consumers identified transportation costs and insecurity as primary drivers of the food price increases. Malam Abdullahi Kasarkabasu, Chairman of Yam Sellers in Galadima Market, cited the high cost of diesel, which has increased transportation expenses, thus affecting food prices. He also mentioned that cattle rustling and insecurity have discouraged farming, contributing to the price hikes.

Alhaji Abdulkadir Umar, Chairman of the Rice Dealers Association in Dawanau Market, highlighted that sourcing paddy rice from villages to mills has become more expensive due to insecurity, leading to higher prices for processed rice.

Consumers have expressed their struggles with the escalating food costs. Mrs. Justina Ogedo appealed for swift government intervention, noting that the price of a single yam tuber has surged from N500-N800 to as high as N4,000. Another consumer, Tunji Oyedotun, urged the government to establish fixed commodity prices to control food costs.

The FCCPC’s efforts include advising the government based on gathered data to help stabilize the market and ensure consumers’ welfare is protected.