FCCPC Storms Katsina Markets, Accuses Marketers of Inflating Food Prices

• Vows to submit report of inquiry to govt 

Francis Sardauna in Katsina 

The enforcement team from the Federal Competition and Consumer Protection Commission (FCCPC) Friday, stormed Katsina markets in a bid to unravel the factors responsible for the continuous hike in food prices.

The team, during the fact-finding mission to Katsina Central and Chake marketers interacted with the traders’ associations, marketers and consumers to find a lasting solution to the rising cost of food items in the state.

Addressing journalists shortly after the interactive session, the North-west Zonal Coordinator of the FCCPC, Abdulkarim Shehu, who led the team to the markets, accused marketers of inflating food prices.

He said wholesalers and retailers have engaged in unwholesome practices such as conspiracy, price gouging and hoarding of food commodities in order to restrict competition in the markets.

Shehu added that the commission would develop a concise report of its findings in the markets and make recommendations to the government in accordance with Section 17(b) of the FCCPC Act.

He said the FCCPC would initiate broad-based policies and review economic activities in the country to identify and address anti-competitive, anti-consumer protection and restrictive practices to make markets more competitive. 

According to him, the commission’s prime concern is to unbolt the markets and tackle key consumer protection and competition issues affecting the prices of commodities in the food sector. 

He said: “FCCPC’s surveillance efforts suggest participants in the food chain and distribution sector including wholesalers and retailers are allegedly engaged in conspiracy, price gouging, hoarding and other unfair tactics to restrict or distort competition in the market, restrict the supply of food, manipulate and inflate the price of food in an indiscriminate manner. 

“These obnoxious, unscrupulous, exploitative practices are illegal under the FCCPA. Following this exercise, the commission would develop a concise report of its inquiry and make recommendations to the government in accordance with Section 17(b) of the FCCPA.”