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The increasing food prices in Nigeria have been linked to insecurity, elevated haulage expenses, and the elimination of petrol subsidies, according to stakeholders.
The Federal Competition and Consumer Protection Commission (FCCPC) is conducting nationwide investigations to uncover the reasons behind the rising food prices in Nigerian markets and to make recommendations to the federal government on how to address the growing food crisis.
As part of these efforts, Ms. Suzzy Onwuka, Head of FCCPC, Lagos Office, led a team of investigators to meet with marketers and traders' associations in Lagos State to understand the factors contributing to the continuous increase in food prices.
Similarly, in Rivers State, the FCCPC, led by South-South Zonal Coordinator Uchegbu Chukwuma, also engaged with traders' associations and marketers to identify the reasons for the ongoing rise in food prices.
In Lagos, the fact-finding inquiry 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 Onwuka, this investigative mission aimed to gather information directly from market sources and stakeholders, including market union executives, sellers, and consumers in these major food markets.
A statement from the FCCPC highlighted that their surveillance efforts suggest that participants in the food chain and distribution sector, including wholesalers and retailers, may be involved in conspiracy, price gouging, hoarding, and other unfair tactics that restrict or distort competition in the market, limit food supply, and manipulate food prices in an indiscriminate manner. These practices are deemed illegal under the FCCPA.
In response to inquiries from the FCCPC team, Mr. Shehu Usman Jibril, the Chairman of Mile 12 International Perishable Market in Lagos State, clarified that the market is open to all individuals interested in conducting business without any restrictions.
Jibril emphasized that there are no limitations on access to the market, and various food items are sourced from different countries and regions, including China, Benin Republic, Cameroon, and Ghana, as well as from different parts of Nigeria.
He pointed out that the increase in food prices is primarily due to insecurity, which has forced many farmers to flee their farms and seek refuge in Internally Displaced Persons (IDPs) camps in northern Nigeria.
This has resulted in a significant decrease in the supply of perishable items, as the farmers, who are the main producers, are no longer able to cultivate their land. Jibril urged the government to facilitate the return of these farmers to their farms in order to address the issue of food scarcity and high prices.
Jibril revealed that the association is in discussions with the Lagos State Government to secure lands for farming purposes.
Similarly, Mr. Olatunji Majester, the Secretary General of Oke-Odo Market in Agbado/Oke-Odo LCDA, also attributed the surge in food prices to insecurity and the high cost of transportation.
