The Federal Competition and Consumer Protection Commission (FCCPC) has launched an investigation into the sharp increases in food prices in Bauchi State.
This move follows a market survey conducted at Muda Lawal Market on Friday, May 24. Adamu Abdullahi, the commission’s vice chairman, highlighted findings indicating that the food distribution sector, including wholesalers and retailers, is allegedly involved in conspiracy, price gouging, hoarding, and other unfair practices.
Abdullahi condemned these actions, noting their contribution to the rising cost of living. Represented by FCCPC’s North East Zone coordinator, Dauda Waja Ahmadu, Abdullahi stated, “Our surveillance efforts suggest that participants in the food distribution sector are engaging in activities that restrict or distort competition, manipulate supply, and inflate food prices indiscriminately. These exploitative practices are illegal under the FCCPA.”
The FCCPC has been conducting fact-finding interactions with Traders’ Associations and Marketers to identify the factors driving the continuous hike in food prices. This investigative mission aims to gather information directly from market stakeholders, including executives, market unions, sellers, and consumers.
“The commission’s priority is to unlock the markets and address key consumer protection and competition issues affecting food prices,” Abdullahi said. Following the market survey, the FCCPC will develop a report with recommendations for the government, in line with Section 17(b) of the FCCPA. The goal is to initiate policies that address anti-competitive practices and ensure fair pricing for consumers.
Meanwhile, traders at Muda Lawal Market have attributed the recent commodity price hikes to their suppliers, citing increased wholesale costs as the primary cause.
