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The Federal Competition and Consumer Protection Commission (FCCPC) is currently investigating the continuous rise in food prices in Katsina State.
The commission has embarked on fact-finding missions to engage with traders’ associations and marketers in the region to gather information on the factors contributing to the price hikes.
Usman Shehu Abdulkarim, FCCPC North-West Zonal Coordinator, revealed that the commission’s inquiry suggests unfair practices in the food chain, including price gouging and hoarding.
These practices are considered illegal under the Federal Competition and Consumer Protection Act (FCCPA).
Market union leaders and consumers have attributed the price hikes to the activities of some political office holders allegedly hoarding food items in their stores.
Alhaji Aliyu Maje Mai Masara, Zonal Grain Sellers Chairman, shared his recent experience of buying maize at Dandume Market, expecting to sell it for a slight profit.
However, within a week, the price had jumped significantly, indicating hoarding and price manipulation.
Other sellers, like Alhaji Rufa’i Hamisu, acknowledge broader economic factors at play, such as the removal of fuel subsidies, which have driven up transportation costs.
However, the consensus remains that hoarding and foreign demand are major contributors to the current crisis.
Consumers are bearing the brunt of these price increases, with Yahaya Mohammed Mashi highlighting the struggle for families on fixed incomes to afford basic necessities.
He urges the government to take action, including establishing subsidized food outlets, to alleviate the pressure on households.
Following the investigation, the FCCPC will develop a concise report of its inquiry and make recommendations to the government in accordance with Section 17(b) of the FCCPA.
The commission aims to address the unfair practices and ensure fair competition in the market, ultimately leading to more stable food prices and improved access to essential commodities for consumers.
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