The Federal Competition and Consumer Protection Commission (FCCPC) is taking steps to address the high cost of food items in Nigeria
Here are some key points about their efforts:
Market surveys: The FCCPC is conducting surveys in markets across the country to gather firsthand information about the root causes of the rising prices of food commodities.
Fact-finding mission: The surveys are aimed at identifying the factors contributing to the increase in food prices, including insecurity, high cost of transportation, and farmers’ interest in farming cash crops.
Stakeholder engagement: The FCCPC is engaging with traders, farmers, and other stakeholders to understand their challenges and concerns.
Recommendations to government: After the surveys, the FCCPC will develop a concise report and make recommendations to the government on how to address the high cost of food items.
Consumer protection: The FCCPC’s efforts are aimed at protecting consumers and ensuring fair market practices.
Collaboration with stakeholders: The FCCPC is working with stakeholders, including market leaders and traders, to address the challenges and stabilize food prices.
Some of the issues identified by the FCCPC include
Insecurity: Insecurity in rural areas is affecting agricultural production and leading to high food prices.
High cost of transportation: The high cost of transportation is contributing to the increase in food prices.
Farmers’ interest in cash crops: Farmers are more interested in farming cash crops than food crops, leading to a shortage of food items.
Hoarding: Some traders are hoarding food items, leading to artificial scarcity and high prices.
The FCCPC’s efforts are aimed at addressing these challenges and ensuring that consumers have access to affordable food items.
