News

FCCPC blames grain hoarders and smugglers for persistent hike in food price

today10/24/2024 10

Background
share close

The Federal Government, through the Competition and Consumer Protection Commission (FCCPC) has revealed that grain hoarders and smugglers are responsible for the persistent hike in food prices in Nigeria.

The Executive Vice Chairman of FCCPC, Tunji Bello, made this known at a town hall meeting with industry leaders, micro, small and medium enterprises, market heads, farmers, transporters, and service providers on Wednesday, in Kano.

Bello stated that the FCCPC investigators had discovered that some grain merchants were stockpiling newly harvested grains in warehouses to create artificial scarcity, exacerbating food inflation in Nigeria.

In addition to grain hoarding, Bello also identified price fixing and artificial barriers imposed by market associations, such as entrance levies, as other unethical practices.

Written by: bossgmsi

Rate it

Previous post

News

Canadian woman sentenced to 11 years imprison in Nigeria

The Federal High Court on Wednesday convicted and sentenced a 41-year-old Canadian woman, Adrienne Munju, to 11 years in prison for importing 74 parcels of “Canadian Loud,” a potent strain of synthetic cannabis, weighing 35.20 kilograms into Nigeria. According to a statement by Femi Babafemi, spokesperson for the National Drug Law Enforcement Agency (NDLEA), Munju’s conviction followed her arraignment on a two-count charge before Justice Dehinde Dipeolu. She was arrested […]

today10/24/2024 14


Similar posts

News

17,000 Apply for 2,500 Teaching Vacancies in Abia State

Abia State Government said it has received over 17,000 applications for the 2,500 teaching vacancies in the state.   Commissioner for Information, Okey Kanu, who spoke on Monday during a press briefing on the outcome of the state’s Executive Council meeting in Umuahia, noted that shortlisted candidates on teachers’ recruitment […]

today02/04/2025 2

Post comments (0)

Leave a reply

Your email address will not be published. Required fields are marked *

0%
Our customer support team is here to answer your questions.
error: Alert: Content is protected !!