Traders at Ose Okwodu Market in Onitsha, Anambra State, have attributed the increasing cost of food items to the ongoing insecurity in Nigeria.
The market leaders conveyed this on Thursday during a visit by the Federal Competition and Consumer Protection Council (FCCPC), which conducted a survey to investigate the causes behind the rising food prices.
Mr. Onyejekwe Cyprian, Secretary of the Ose Okwodu Market Traders Union, representing the chairman, Mr. Ikechukwu Umeanozie, highlighted that the market, renowned as the food hub of Anambra State and beyond, has seen unbearable price hikes due to insecurity.
He explained that farmers are now hesitant to cultivate or transport crops for fear of abduction, forcing traders to fetch produce directly from rural areas.
“These days, traders travel to rural areas because farmers who manage to harvest crops are afraid to transport them due to the risk of kidnapping,” Cyprian said.
“This situation causes traders to suffer since they have to go to the farmers. Most consumables come through this market, which serves as a major distribution point, receiving supplies from across the country multiple times a week. But now, the frequency of supplies has drastically reduced.”
Cyprian added that the scarcity has led to price hikes as traders preemptively increase prices, knowing supply shortages are imminent due to banditry.
Mr. Jude Akonam, FCCPC’s South East zonal coordinator, said the visit aimed to gather insights from traders and customers about the impact of rising prices, intending to relay these findings to relevant authorities.
The FCCPC officials also distributed informational flyers during their interactions with market participants.
The exercise is part of a nationwide initiative by the FCCPC to understand and address the issues behind escalating food prices.