Federal government, through the Federal Competition and Consumer Protection Commission (FCCPC), is actively exploring solutions to mitigate the soaring prices of food items in Nigerian markets.
FCCPC said it’s conducting extensive market surveys across the country to identify the root causes behind the price hikes of essential commodities over the past six months.
In Kano, a key commercial hub in the north, the FCCPC team visited major markets such as Abubakar Rimi (Sabon Gari) Market and Dawanau Grains Market to gather firsthand insights. Following these surveys, Adamu Abdullahi, acting vice chairman of FCCPC, briefed reporters, emphasizing the government’s commitment to addressing the high cost of food items.
“Foods are essential for survival, and the government cannot overlook the plight of hungry citizens. Our mandate includes assessing market dynamics across all geopolitical zones to understand the factors driving price increases,” Abdullahi stated at Dawanau market. He highlighted challenges reported by traders, including insecurity, transportation costs, and shifts in agricultural focus from food to cash crops.
Abdullahi assured that FCCPC would advocate for fair market prices and work towards eliminating barriers to free trade in Nigeria. He urged Nigerians to be patient with the government’s efforts under President Bola Tinubu’s administration, which is prioritizing alleviating the burden of rising food costs.
Traders and buyers also shared their concerns about escalating prices, with one lamenting, “Prices keep rising dramatically. What was N1,200 yesterday is N1,500 today and could be N4,000 next week.” Another buyer at Sabon Gari market expressed distress over the steep price of garri, saying, “A cup now sells for N700, making it difficult to afford staple foods like yam.”
Market leaders and traders attributed the food price surge to rural insecurity, citing the fear among farmers caused by banditry, kidnappings, and extortion of agricultural produce. They described the challenges faced by farmers, including the threat of violence and financial exploitation by criminal groups.
The FCCPC’s market surveys aim to provide actionable insights for policy recommendations to tackle the food price crisis and ensure equitable access to essential commodities across Nigeria.
