Babaloja (Market leader) of Bodija International Foodstuffs Market in Ibadan, Alhaji Ismaila Aderemi, on Sunday, vowed to sanction anyone caught hoarding foodstuffs from prospective buyers.
Aderemi told the News Agency of Nigeria (NAN) in Ibadan that traders at the essential commodities market had resolved to reduce prices of their commodities to ease the hardship current being faced by residents of Oyo State.
“Our traders, especially those at Bodija international markets, are currently selling commodities at prices than what obtained in some other markets within and outside Ibadan.
“The decision by the traders followed the public outcry over the soaring prices of essential commodities and the high cost of living in the country,” he said.
Aderemi assured residents that the executives of the market would fish out those hoarding commodities or engaging in arbitrary increase in their prices, adding that they would be disciplined in accordance with the rules of the market.
He, however, said that no trader in the market was involved in hoarding of foodstuffs in order to create artificial scarcity, thus paving way for price increase.
“I can tell you that you cannot find anyone in this market hoarding consumables. We are not involved in the allegation. You can move around to confirm this yourself.
“I can also invite some of our traders without prior notice to ask them about the prices of their various consumables and I can assure that their responses will amaze you.
“The rising prices of commodities in the market were not arbitrarily done by our members; it is brought about by what we bought, but since things are gradually coming down, we have also adjusted the prices of our commodities,” the market leader said.
He called on governments at all levels to apply measures to bring down the prices from source, adding that meetings should be held with various farmers’ associations to address the situation.
“We have expressed our resolve to cooperate with Gov. Seyi Makinde in his bid to bring down prices of commodities in the interest of the public,” he said.
Aderemi assured residents of maintaining the lowest prices of the stocks at hand, relative to the skyrocketing prices being experienced in other markets across the state.
“We will ensure that our present stocks don’t go beyond the current prices, for the sake of our people. We don’t even mind running at a loss than throwing our people into difficulties,” he said.
Aderemi, however, denied the rumours making the rounds that rice sellers’ association at Bodija market had mandated its members to sell the product at higher prices in spite of the reduction in its price.
He stated that no association had the right to force down prices of goods on its members.
“The price of rice is now coming down. Most of us who still have in our stores have to sell at a loss in order to restock,” he said.
The babaloja urged all market men and women selling rice and other foodstuffs to sell their wares accordingly, as their prices are gradually coming down. (NAN)
