With prices of foodstuffs spiraling out of the reach of majority of Nigerians, the Federal Competition and Consumer Protection Commission, FCCPC, has disclosed its plan to fight the rising prices.
This was stated by the Acting Executive Vice Chairman/CEO, Federal Competition and Consumer Protection Commission (FCCPC), Adamu Abdullahi yesterday.
Speaking on the worrying economic development, Abdullahi said the rise in prices of foodstuffs and other items in the markets were due to cartels forcefully enforcing prices.
The CEO, however, stated that the Commission is doing everything within its power to ensure prices of foodstuffs are stepped down in the markets. He said it is not in the place of the FCCPC to enforce or regulate prices. This is even as the Commission took it upon itself to meet with market managements to address the issue.
He said, “Transportation was among the major challenges. Which is the reason the Government should do all it can to ensure that Compressed Natural Gas (CNG) becomes fully operational as soon as possible. With the CNG in place, prices of goods will drastically reduce.
Abdullahi disclosed at a one-day Programmme for collaboration between Non-Governmental Organization (NGOs) and the FCCPC in Abuja. He, therefore, stated that there was need to partner the NGOs to address some complaints coming into the Commission. He pointed that advocacy is part of the rules of engagement of FCCPC.
The CEO said, “Aside the CNG operating, the Government should address issues of bad roads. Price of fuel has to drop in the absence of CNG. These transporters set aside at least a Hundred Thousand for checkpoints and breakdown of vehicles. Especially, when carrying perishables like tomatoes, pepper, yams and others.
Abdullahi insisted that for these prices to completely drop, Government should address some of these issues. Though, he noted that the market cartel is very disturbing.
He assured that FCCPC is working with the market management to see how the cartels can be stopped.
source: The Nation
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