Ogun Statistician-General Calls For Price Control Mechanism To Tackle Abitrary High Prices Of Commodities In Markets - EDU-BIZNEWS


Thursday, June 13, 2024

Ogun Statistician-General Calls For Price Control Mechanism To Tackle Abitrary High Prices Of Commodities In Markets


Ogun State Statistician-General, Mr. Michael Ajayi, has called for introduction  of a price control mechanism to enable government checkmate arbitrary increase in prices of food items and other commodities and reduce drastically the economic hardship being experienced by Nigerians buying these items in the local markets 

Ajayi who made this call during a survey of markets around Ogun Central and Ogun East Senatorial Districts of the state by the Bureau of Statistics, noted that the hike in food items which was noticed shortly after the COVID-19 pandemic, had not abated in the last 12 months.

Statistician-General who was represented by the Director, Economic and Social Statistics, Mr. Bolarinde Abimbola,  stated that situations were similar in all markets, as the prices of staples such as rice, maize, garri, yam beans and oil have doubled or even tripled, saying the hike also affected other commodities such as electronics, clothing and toiletries.

He explained that the increase was due to various factors such as, currency devaluation, insecurity and low productivity in the agricultural sector, noting that arbitrary increase of commodities by traders due to their selfish gains, largely contributed to the hardship.

"Early last year, 2023, a plastic of ‘garri’ is sold for Five Hundred Naira, is now N1, 500.00, which represents an increase of 33.3 percent between January, 2023 to June, 2024", he said.

Speaking on behalf of traders at Arigbajo Market, Secretary of Egbejoda Market in Arigbajo, Ifo, Chief Akinbola Oludayo, commended the Dapo Abiodun-led administration for providing enabling environment for them to transact their businesses, calling on government to help curb the unlawful act of deliberately increasing prices of commodities by sellers in various markets in the state.

In her submission, the Iyaloja of Olabisi Onabanjo International Market, Chief Mrs. Oloruntele Ogunba, expressed worries over the drastic increase in the prices of commodities, saying the incessant increase in prices scare consumers away, while appealing to the government to provide lasting solutions to the situation.

A consumer, Mr. Ibrahim Gbadamosi while fielding questions from journalists at Egbejoda Market, Arigbajo, Ifo, affirmed that traders were major culprits of price hike, pleading with the government to introduce price control measures to curb the unlawful act being perpetrated by these sellers.

Other markets visited include, Lanfenwa Market in Abeokuta, Olabisi Onabanjo International Market, Ijebu-Ode, Remo and Siun Markets.

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