Bodija Market Leader Vows to Punish Foodstuff Hoarders Amid Price Crisis

Amidst the growing concern over soaring food prices in Nigeria, the Babaloja (market leader) of Bodija International Foodstuffs Market in Ibadan, Oyo State, Alhaji Ismaila Aderemi, has vowed to take strict action against traders caught hoarding foodstuffs.

This comes as the market seeks to ease the burden on residents by reducing prices of essential commodities.

In an interview with the News Agency of Nigeria (NAN), Aderemi stated that traders at the Bodija market are currently selling commodities at lower prices compared to other markets within and outside Ibadan.

This decision was made in response to the public outcry over the high cost of living in the country.

Aderemi assured the public that the market’s executives are committed to identifying and punishing those involved in hoarding or arbitrarily increasing prices of commodities.

He emphasized that any traders found guilty of such practices would be disciplined in accordance with the market’s rules.

While addressing allegations of hoarding, Aderemi stated that no trader in the market is involved in the practice, which creates artificial scarcity and leads to price hikes.

He also called on governments at all levels to implement measures to bring down prices from the source, suggesting that meetings with various farmers’ associations could help alleviate the situation.

The market leader reiterated the traders’ resolve to cooperate with Governor Seyi Makinde’s efforts to bring down prices in the interest of the public.

He also assured residents that the market will maintain the lowest prices possible for the stocks available, in contrast to the escalating prices observed in other markets across the state.