Grain hoarders have been found to be a significant factor in the nation’s current food inflation problem.

At yesterday’s town hall meeting with industry captains, MSMEs, market leaders, farmers, transporters, and service providers in Kano, Mr Tunji Bello, the Executive Vice Chairman/CEO of the Federal Competition and Consumers Protection Commission, or FCCPC, made this argument.

Speaking to the audience at the Afficent Centre, the head of the FCCPC said that the commission’s investigators had found that some dishonest produce vendors were stealing freshly harvested grains and storing them in warehouses to create a false shortage, which made the nation’s food inflation worse.

He stated, “Some of these dishonest actors go so far as to take some of the food items they had mopped up from the farmers or the markets and smuggle them across the borders to sell at premium, thereby endangering our national food security, without caring for the consequences of their action on fellow countrymen and women.”

The event on Wednesday was a follow-up to the interactive sessions that the FCCPC had previously held for manufacturing and distribution chain partners in Abuja and Lagos as part of its reinvigorated push to stop anti-consumer activities nationwide.

To stop the unwholesome behaviour in the interest of the country, Bello asked the Kano stakeholders for their help.

Please understand that we are not implying that everyone is at fault in this situation. Only a small percentage of our bad eggs engage in such immoral behaviour. Therefore, it is our shared duty to cooperate in order to get fair prices for products and services, particularly at a time when the nation is implementing ambitious economic changes that may cause short-term suffering now but will undoubtedly lead to a stronger economy for us in the future,” he continued.

Among other unethical acts, the FCCPC head also mentioned price fixing and market groups’ establishment of artificial obstacles in the form of entry fees.

Bello informed the Kano stakeholders that the Commission decided to initially investigate the possibility of discussion in the “spirit of democracy,” despite the FCCP Act’s severe penalties for violators, which range from hefty fines to jail sentences.

Bello listed the successes of the FCCPC’s previous engagements in Abuja and Lagos and said that President Tinubu has already addressed some of the public’s desires with new policies. He also promised to communicate the opinions of Kano stakeholders to the right people.

His Excellency, President Asiwaju Bola Ahmed Tinubu, is a highly receptive listener. He has empathy for people, understands their suffering, and is always prepared to go above and beyond to mitigate the negative impacts of any hardship that the current economic changes may cause.

Additionally, the federal government has started to impose zero excise, VAT, and value-added tax on pharmaceuticals and medical devices. This is in line with the removal of certain taxes from public transportation and other levies to support micro, small, and medium-sized businesses.

Bello encouraged the stakeholders to share the benefits of the government’s concessions with the customers in order to show their patriotism.

“For example, we don’t expect public transport operators to charge the same fares as those who purchase petrol when the government provides them with easy credits to convert their vehicles from petrol to relatively far cheaper CNG,” he continued.