Why There’s Food Price Inflation In Osun – Traders

TRADERS in Osun State have reported that bribery of security operatives, and a hike in fertilizer and fuel prices are some of the factors responsible for the inflation in food and commodity prices in the state.

The traders, during a fact-finding survey conducted by the Federal Competition and Consumer Protection Commission (FCCPC) in Osun, said they could not extort residents of the state by arbitrarily inflating food and commodity prices. 

The officials of the FCCPC inspected markets in Ayedaade and Orolu Local Government Areas of the state last Friday. 

Speaking at the market, the FCCPC South-West Zonal Coordinator, Mrs Janet Odo, explained that the visit was to interact with traders’ associations and marketers to ascertain factors responsible for the continuous hike in food prices in the country.

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According to Odo, the commission is committed to gathering all relevant information to present a comprehensive report to the Federal Government, adding that the report would serve as a basis for formulating policies in the areas of competition and consumer protection.

She stated that findings by the commission revealed that there were conspiracies on the part of the market associations and unions across markets in Nigeria, thereby contributing to the price surge.

She said: “We are here in Gbongan market, boundary between Oyo and Osun states. FCCPC has been engaging in a fact-finding mission to understand why there is high cost of food commodities in the market.

“We are in the Gbongan market to carry out our fact-finding mission to interact directly with those in the food shape, especially distributors, wholesalers, and retailers to gather our facts as to why there is a hike in food commodities at this particular time.

“This is a survey that is going on across the country, we collate our facts and send them down to serve as points of advising the Federal Government.

“Section 17b of our mandate says we should gather facts, review them, and from the facts advise the government on the policies that have to do with competition and consumer protection.

“From our surveillance, there has been a purportedly conspiracy in the market, price indulging carried out by associations and unions, which is why there is an escalation in food prices.

“As for what we gathered from market executives which are Iyaloja and Babaloja, their assertion is that inflation affected the price of food.”

The Iyaloja of Gbongan, Chief Temilade Adewale put the blame on the removal of fuel subsidy by President Bola Ahmed Tinubu, saying it has resulted into an exponential increase in transportation costs for goods.

Adewale disclosed that the cost of transporting a single bag of rice from the North was increased from N2,500 to N6,500.

She also accused some customs officials of demanding bribes before allowing goods to pass through, a practice she alleges has led to an increase in the price of rice.

Adewale said: “What caused the hike in prices of food commodities is the removal of fuel subsidy; another thing is the bribe on commodities, especially on rice by men of Nigerian Customs Service. The security operatives on our roads collect bribes, all these tell on prices of commodities.”

A consumer, Mary Adetoye, who was in the market to buy food items, said foodstuffs are gradually becoming unaffordable for the common people in Nigeria.

Adetoye appealed to the government to urgently intervene in the skyrocketing prices of food items.