FCCPC seals off popular Abuja Sahad store over irregular price fixing 

THE Federal Competition and Consumer Protection Commission (FCCPC) has sealed off the Sahad Store in the Garki area of Abuja.

The popular supermarket was sealed off hours after President Bola Tinubu announced strategies to address the causes of the food crisis confronting Nigeria.

The supermarket’s management was accused of overcharging customers by implementing prices different from those listed on the shelf tags.

The acting executive vice chairman of the FCCPC, Adamu Ahmed Abdullahi, supervised the enforcement. 

Speaking with reporters, Abdullahi said the preliminary inquiry conducted by the commission verified that the supermarket’s management had been shortchanging customers.

He declared that the store would be closed until the conclusion of the additional probe.

Attempts to get more clarifications on the issue from the spokesperson of the FCCPC, Ondaje Ijagwu, were unsuccessful as his phone was not going through, and messages sent to his phone have yet to be responded to as of the time of filing this report.

The store’s closure follows a similar action by the Kano State government, which shut down ten stores for hoarding foods earlier this week.

Meanwhile, The ICIR reported on February 9 that Tope Fasua, Special Adviser on Economic Affairs to President Bola Tinubu, said high food exports to Nigeria’s neighbouring countries fuelled rising food costs in the country.

Fasua said this while speaking on Channels TV on Thursday, February 8.

The ICIR reports that the immediate neighbouring countries surrounding Nigeria are the Republic of Benin, Chad, Cameroon, and Niger.

He noted the indiscriminate sale of food items and raised concerns about the need for price control mechanisms and reviving the commodity boards.

The ICIR reports that before 1986, Nigeria had six commodity boards before embarking on a market-oriented economic ideology.

The Commodity Boards Act 1977 dissolved the Nigerian Produce Marketing Company Limited and all the States Marketing Boards and, in their place, set up six new Commodity Boards.

Fasua said states and local governments were closer to the farmers and should work with the Federal Government to save Nigerians from the calamity of surging food prices.

“There is a need to understand what is happening at that level to save ourselves from this calamity.






     

     

    “The surging price of food items has a trace to happenings at the global stage, Fasua noted, adding that the government must put in place intellectual and regulatory infrastructure other countries like the United States and the United Kingdom had used to control their food inflation.

    Nigerians are facing the worst situation of rising food prices because of the government’s reforms,” Fasua said.

    However, whether the export proceeds are coming in is an issue the Central Bank has to look into, Fasua stated.

    Speaking on setting up the price control board on Thursday, February 15, Tinubu said his government would not consider the option.

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