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The Federal Competition and Consumer Protection Commission, FCCPC, has blamed the rising cost of commodity goods on middlemen. The Commission stated that the high price of goods is as a result of the activities of wholesalers and retailers in the distribution chain.

This was revealed by the South-South Zonal Coordinator of FCCPC, Sir Uchegbu Chukwuma.

Speaking with journalist in Port Harcourt, Rivers State, Chukwuma said the middlemen are responsible for the rising cost of food items.

According to him, the FCCPC surveillance efforts suggest participants in the food chain and distribution sector including wholesalers and retailers are allegedly engaged in conspiracy. They engage in price gouging, hoarding and other unfair tactics to restrict competition in the market.

Chukwuma said such sharp practices restrict the supply of food, manipulate and inflate the price of food. He, however, stated that such activities are illegal under the FCCPA Act.

He said this was revealed by the fact-finding inquiry constituted by the Commission.

The coordinator pointed that an investigative mission was constituted to gather information directly from the sources. And also, from stakeholders in major markets, particularly executives, market unions, sellers and consumers.

He, however, stated that the Commission’s priority remains to unlock the markets. And to address key consumer protection and competition issues affecting the prices of commodities in the food sector.

“We have found out that there is a lot of money these people pay from point of purchase. Almost all the people we spoke with said the same. From Benue State to this place, each truck coming here pays not less than N250,000 as illegal fees enroute their respective destinations,” he added.

source: Daily Trust

 

 

 

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