Middlemen cause of rising cost of food, services allege market stakeholders in Nigeria

In Ekiti, a state South West Nigeria, stakeholders are urging government to address alleged exploitative practices of middlemen in order to control the rising costs of goods and services.

Some of the stakeholders made of market women, trade gilds and transport service operators criticized middlemen for taking advantage of producers and selling goods at inflated prices, causing financial strain on consumers.

Rising cost of living has spread concerns beyond state and country making it major worry in West African countries recently.

The Ekiti state government has established a task force to address the issue of price hikes in the state.

This was part of the  resolutions at a meeting between the representatives of the State Government, led by the Commissioner for Trade, Investment, Industry and Co-operatives, Mrs Adeola Omotayo and the leadership of the various  associations in Ado Ekiti, the state capital.

Mrs. Omotayo noted that the fuel subsidy removal and the floating of the currency largely contributed to the astronomical rise in prices which is causing severe hardship on the people.

The Commissioner for Trade, Investment, Industry, and Co-operatives highlighted the factors contributing to the increase in prices, such as fuel subsidy removal and currency fluctuations.

She said that the prevalent alarming cost of transportation has led to the seemingly uncontrollable increase in the prices of goods and services.

She emphasized the need for all stakeholders to be considerate and reduce prices to alleviate the financial burden on the people.

“The state government is committed to creating a conducive environment for entrepreneurs while protecting consumers from fraudulent practices,” she said.

Traders and transport operators were also called upon to collaborate with the government to improve the standard of living for residents.

The market leaders of the state expressed gratitude for government’s efforts to address the rising costs and hoped that control measures would be implemented.

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