The Acting Executive Vice Chairman/Chief Executive Officer of the Federal Competition and Consumer Protection Commission (FCCPC), Adamu Abdullahi, revealed on Thursday, July 11, that the increase in prices of food items and other products in the markets is a result of cartels imposing prices.
When asked about what the commission is doing to lower food prices in the markets, he said that it is not within the commission’s mandate to enforce or regulate prices, but they have taken steps to meet with market management to address the issue.
He also highlighted transportation as a major challenge, emphasizing the importance of the government’s efforts to ensure that Compressed Natural Gas (CNG) becomes fully operational as soon as possible, which will lead to a significant reduction in prices of goods.
Abdullahi made these statements during a one-day program for collaboration between non-governmental organizations and the FCCPC in Abuja, stressing the need to partner with NGOs to address complaints received by the commission, as advocacy is part of the FCCPC’s rules of engagement.
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He said: “Aside from the CNG operating, the government should address issues of bad roads. The price of fuel has to drop in the absence of CNG. These transporters set aside at least a hundred thousand for checkpoints, breakdown of vehicles especially when carrying perishables like tomatoes, pepper, yams, and others has to be considered.
“For these prices to completely drop, the government should address some of these issues, even though the market cartel is very disturbing, the commission is working with the market management to see how the cartels can be stopped, though some of the market management denied that they are not aware of the cartels.”