The Federal Competition and Consumer Protection Commission has released findings from a comprehensive investigation into the factors contributing to the relentless increase in consumer costs.

The Director of Surveillance and Investigation Mrs B. A. Adeyinka, said this while briefing journalists during a market surveillance to enforce prices today in Masaka Markets, Nasarawa State.

Adeyinka explained, “We’ve conducted extensive interviews with marketing executives and sellers across various sectors. Despite government efforts to stabilise the currency, prices remain high.

“Our findings point to a complex web of factors, including multiple layers of taxation and transportation costs, driving prices up. The cost of transportation is a significant burden on the sellers, and this cost is inevitably passed on to the consumer.


“For instance, a product that once cost N15,000 now sells for N50,000. This drastic increase is largely due to higher transportation expenses, the rising cost of pesticides, and security concerns in certain areas.


“Our first step is to compile a report on the multiple taxes affecting the market and advise the government on potential solutions. We aim to unlock the market by reducing these taxes, thereby easing the financial burden on both sellers and consumers.”

The FCCPC as part of its campaign for compliance sealed 4U Supermarket Wuse 2 on Thursday for breaching price and quality standards.


Speaking on Thursday, the acting Chief Executive Officer of FCCPC, Adamu Abdullahi, stated that the commission would continue the price enforcement in other states.

On his part, the executive chairman of the market, Gimbal Salasi said the market executives were working to ensure hitch-free market operations and price regulations in the market.

Source: https://punchng.com/FG-agency-blames-multiple-taxes-others-for-high-cost-of-goods

All traced back to subsidy removal. Now, Tinubu is learning the hard way why the designers of the subsidy economic payment system has it in place !

Major blame goes to...
1. Fuel price increase from ~₦200 to ~₦700
2. Naira to Dollar depreciation from ~₦600 to >₦1000
3. Farmers insecurity from Bandits, Herdsmen etc
4. High transport costs +extortion from Police, Army, Touts etc

Add yours...

No be dollar again

This blame games will soon be added to betting sites soon , all we need is solution

These clowns running that agency are dumb.

Anyone that travels interstate knows that police, army are extorting(stealing) money from motorists transporting goods.
But this agency decided not to talk about that part.

And the blame game continues

G

Blames... Blames... Blames!!!

Yet the issue worsens everyday.

Noted.

Buy a trailer load of plantains and you will use 1.5m to transport it to your location, Agbadorians/Agboro will collect taxes (owo mi da) of 2.4m from you, then settle police, army and you must make profit too.

Ban Agboro, stop multiple taxation, drag down duty and diesel, steady power supply and see cheap products.

When will this blame game end

Tinubu taxed lagos so it's not a surprise. This is the way he operate.

Always passing the buck even when their clueless and constricting economic policies are snuffing life out of the common man.

Blame blame blame. E no possible to blame Gowon gofamemt of 1966 to 1975, them for blame am. APC na nama government. Very backward, and archaic

Always blaming one person or the other for their failure.

Fearyourcreator the Ronu man, what do you have to say to your paymaster failed adminstration?

The citizens will control the multiple taxation. Continue with buck passing while citizens suffer from your misguided economic reforms.
Who jumps to office in a day and without advisers and ministers took harsh economic reforms policies the same day?

Continue the blame game.

GanagiBitrus:

Major blame goes to...
1. Fuel price increase from ~₦200 to ~₦700
2. Naira to Dollar depreciation from -~₦600 to >₦1000
3. Farmers insecurity from Bandits, Herdsmen etc

Add yours...

Na that fuel price be the major problem

They called me from this agency earlier this week to interview me on this particular subject.

Didn't know it was going to be published.

My response to them was

1. Taxation of farmers by bandits.

2. High cost of transportation.

3. Extortion by Police, Soilders and those guys that call themselves Agricultural Bla Bla Bla..

4. The general high cost of living.

I've lost all hope in Nigeria.

Obyangel:
Buy a trailer load of plantains and you will use 1.5m to transport it to your location, Agbadorians/Agboro will collect taxes (owo mi da) of 2.4m from you, then settle police, army and you must make profit too.

Ban Agboro, stop multiple taxation, drag down duty and diesel, steady power supply and see cheap products.

those guys are plain useless. They will venture into robbery if any government ban them

Hmmmmmm

What kind of dumb government do we even have? You created the problem in the first place, now you're are trying to look as if you're working by highlighting the same problem you created. You're not even tackling it at all. May God help us all

Tinubu has nothing to offer aside removing subsidies and finding ways to tax the populace

adenigga:




Source: https://punchng.com/FG-agency-blames-multiple-taxes-others-for-high-cost-of-goods

But nairaland madmen and lovers of nigeria are blaming middlemen who are victims of FG high handedness and cluelessness.

Cause and effect

GanagiBitrus:

Major blame goes to...
1. Fuel price increase from ~₦200 to ~₦700
2. Naira to Dollar depreciation from -~₦600 to >₦1000
3. Farmers insecurity from Bandits, Herdsmen etc

Add yours...

Customs increased import duties 3 times last year.

ZombieTAMER:


Tinubu has nothing to offer aside removing subsidies and finding ways to tax the populace

The man na rehoboam and clowns are calling him strategist