The Federal Competition and Consumer Protection Commission (FCCPC) has initiated a nationwide inquiry to uncover the reasons behind the rising food prices in Nigerian markets. The objective is to provide the federal government with actionable recommendations to mitigate the ongoing food crisis.
Ms. Suzzy Onwuka, Head of the FCCPC Lagos Office, led a team of investigators on a fact-finding mission in Lagos State. The team engaged with marketers and traders’ associations to understand the factors contributing to the continuous hike in food prices. Similarly, in Rivers State, the FCCPC, led by its South-South Zonal Coordinator Uchegbu Chukwuma, conducted interactions with traders’ associations and marketers to gather insights.
In Lagos, the investigation took place at the Mile 12 International Perishable Market and the Oke-Odo Market in Agbado/Oke-Odo Local Council Development Area (LCDA). According to Ms. Onwuka, the mission aimed to gather information directly from market stakeholders, including union executives, sellers, and consumers.
A statement from the FCCPC on Wednesday highlighted findings from their surveillance efforts. It suggested that participants in the food chain, including wholesalers and retailers, were allegedly involved in conspiracy, price gouging, hoarding, and other unfair practices that restrict competition, supply, and inflate prices illegally. These practices are deemed illegal under the FCCPA.
Following the inquiry, the FCCPC plans to develop a comprehensive report and recommend policies to the government as per Section 17(b) of the FCCPA. The commission aims to address anti-competitive and anti-consumer protection practices to ensure fair pricing and improve market competitiveness.
Mr. Shehu Usman Jibril, Chairman of Mile 12 International Perishable Market, explained that the market operates openly, with no restrictions on business participation. He attributed the rising food prices to insecurity, which has displaced many farmers from their lands to Internally Displaced Persons (IDP) camps, significantly reducing food supply.
Jibril emphasized that the displaced farmers are crucial to food production, and their absence has caused a nearly 70% drop in supply. He urged the federal government to address this issue by facilitating the return of farmers to their lands to stabilize food prices.
Similarly, Mr. Olatunji Majester, Secretary General of Oke-Odo Market in Agbado/Oke-Odo LCDA, cited insecurity and high haulage costs, exacerbated by the removal of petrol subsidies and high diesel prices, as key factors driving food prices up.
In Rivers State, traders at various markets in Port Harcourt expressed concerns over worsening conditions. They appealed to President Bola Tinubu’s government to address the food crisis urgently. Chukwuma reiterated the FCCPC’s commitment to unlocking markets and addressing consumer protection and competition issues to ensure fair pricing.
During a market survey at the Oil Mill Market in Obio/Apkor LGA, Mr. Daniel Kalu, Secretary of the Fruit and Vegetables section, identified multiple taxation as a significant challenge. He described the numerous dues paid at various stages from harvest to final destination as a major burden.
Mr. Sabinus Osigwe, Chairman of the Bishop Okoye Shop Owners Association, called for government intervention to reduce inflation and eliminate illegal tolls collected by road agents, which negatively impact their businesses.
