The Ogun State Commissioner for Statistics, Mr Michael Babatunde Ajayi, has called on the government to introduce price control measures to significantly curb the steady rise in food and other commodity prices in the country.
Ajayi, who disclosed this shortly after a survey conducted by the state bureau of statistics on markets around Ogun Central, Ogun West, and Ogun East axis of the state, revealed that the price hike was noticed immediately after the COVID-19 pandemic, but has increased again in the past 12 months.
The statistician, who was represented by the Commissioner for Socio-Economic Statistics, Mr Bolarinde Abimbola, explained that the situation is similar in every market, with prices of staple foods such as rice, maize, garri, yam, beans, and oil doubling and even tripling.
He said this has also affected other raw materials such as electronics, clothing, and toiletries. He explained that the rise in prices of food and other commodities is due to various factors including uncertainty and low productivity in the agricultural sector.
He noted that among the problems identified in the survey were sellers of food and other commodities deliberately inflating the prices of goods for selfish reasons. “Early last year, a plastic pack of garri was being sold for N500 but is now being sold at the rate of N1,500, a 200% increase between January 2023 and June 2024,” he said.
Speaking on behalf of traders at Arigbajo market, the Commissioner for Egbehoda Market, Arigbajo, Ifo State, Chief Akingbola Oludayo, commended the Dapo Abiodun-led government for providing traders with a conducive environment for business and appealed for the state government to support them in curbing the illegal practice of deliberately inflating prices of goods by sellers in various markets in the state.
The Iyaloja of Olabisi Onabanjo International Market, Chief Oloruntele Ogunba, in his contribution, expressed concern over the sudden rise in commodity prices. He said the incessant price hike has made consumers anxious and appealed to the government to find a lasting solution to the situation.
Mr. Ibrahim Gbadamosi, a consumer at Egbehoda Market, Arigbajo, Ifo, responding to questions from journalists, argued that most traders are the main cause of price hikes and called on the government to put in place a price control mechanism to curb price hikes. It is illegal to restrict the conduct of these sellers.
The markets visited were Arigbajo Market in Ifo, Ramfenwa in Abeokuta, Olabisi Onabanjo International Market, Ijebu Ode in Itaosu, Remo Market, and Siun Market.
