The Acting Executive Vice Chairman/ CEO, Federal Competition and Consumer Protection Commission (FCCPC), Adamu Abdullahi yesterday disclosed that the rise in prices of foodstuffs and other items in the markets were due to cartels forcefully enforcing prices.
When asked what the Commission is doing 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, even though the commission took it upon itself to meet with market managements to address the issue.
According to him, 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, who spoke at a one day Programme for collaboration between Non Governmental Organization (NGOs) and the FCCPC in Abuja, said there was a need to partner the NGOs to address some complaints coming into the commission, saying advocacy is part of the rules of engagement of FCCPC.
According to him, “aside from 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, breakdown of vehicles, especially when carrying perishables like tomatoes, pepper, yams and others.
For these prices to completely drop, government should address some of these issues, even though the market cartel is very disturbing.
He said the commission is working with the market management to see how the cartels can be stopped.
