FCCPC surveys Bauchi markets to investigate rising consumer goods prices

The Federal Competition and Consumer Protection Commission has conducted surveys in major markets of the Bauchi metropolis to ascertain the cause of the increase in prices of consumer goods. Speaking during the Council's visit to Muda Lawal and Railway markets, the Acting Executive Vice Chairman, Dr Adamu Abdullahi, said that the Commission has been…

According to him, the fact-finding inquiry is an investigative mission to gather information directly from the sources and stakeholders in major markets, particularly executives, market unions, sellers, and consumers.The Chairman of Traders at Muda Lawal market, Mikail Abubakar Garba, said: “The problem of the hike in prices of grains can be attributed to livestock feed millers who mop up grains in trucks from farms.

Abdullahi, represented by the Northeast Coordinator, Waja Dauda Ahmadu, said that the Commission would compile its report and advise the government on how to address the hike in prices of goods. The Federal Competition and Consumer Protection Commission has conducted surveys in major markets of the Bauchi metropolis to ascertain the cause of the increase in prices of consumer goods. Speaking during the Council's visit to Muda Lawal and Railway markets, the Acting Executive Vice Chairman, Dr Adamu Abdullahi, said that the Commission has been…

Shareholders of Nestle Nigeria Plc have stressed the need for the management of the company to intensify efforts towards ensuring that raw materials for production are sourced locally while increasing its export business to tackle foreign exchange issues.The Central Bank of Nigeria has reduced the exchange rate used for the computation of import duties to N1,446.281/$. The latest cut is the eighth this month.

Source: News Formal (newsformal.com)

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