Nigerian government through the Federal Competition and Consumer Protection Commission has reopened a popular Abuja supermarket, Sahad Stores, after its temporary closure.
The commission had, on Friday, February 16, sealed the stores for a lack of transparency in the way it was fixing prices for products.
The commission stated that while the store displays lower prices on shelves, it charges higher prices at checkout.
In a statement issued by the acting Executive Vice Chairman of the FCCPC, Adamu Abdullahi, the commission confirmed that Sahad Stores had been reopened on February 16, around 7 p.m., after reaching a mutual understanding and commitment to implement transparent pricing practices.
Part of the statement read: “On February 16, 2024, FCCPC operatives visited Sahad Stores and confirmed through random checks that the deceptive practice did not only continue, but cashiers also charged prices at their discretion, leaving unsuspecting customers vulnerable to unfair pricing.
“Exercising its authority under Section 18(f), the Commission temporarily sealed the premises.
“However, following a mutual understanding and commitment from Sahad Stores to implement transparent pricing practices, the FCCPC reopened the store on February 16, 2024, at about 7 p.m.”
The statement emphasized the FCCPC’s commitment to combating exploitative and misleading practices that undermine consumer rights.
The commission urged businesses to display transparent pricing information to empower consumers and ensure fair practices in the market.
Meanwhile, the management of Dawanau International Grains Market in Kano State has dismissed reports that dealers in the market are hoarding foodstuff to create artificial scarcity.
The management also dismissed perceptions that the traders are increasing the prices of food items arbitrarily to cause hardships to the people.
Dawanau International Grains Market is the biggest in West Africa supplying foodstuff to customers in Nigeria, Niger, Chad, Cameroon and the Central African Republic, among other countries.
The President of the Dawanau Market Development Association, Alhaji Muttaka Isa, made the management’s position known while addressing a news conference in Kano on Saturday.
According to him, the grain dealers only purchase the foodstuff from growers in various parts of the country, and store them in the market’s warehouses before selling them to their customers.
The food items include rice, millet, sorghum, beans, wheat and groundnuts which are largely grown in the northern parts of Nigeria.
The market also stocks in crops such as Sobo, Sesame Seeds, Hibiscus, Tamarind and Soybeans which are exported to Asia, Europe and other markets across the globe.
“The association hereby calls the attention of the general public to understand that we are dealers of items having an average daily turnover of N30 billion.
“Farmers from far and near bring their products here which we buy and sell wholesale to industries and for exports. We buy and sell the items, and cannot possibly hoard them.
“The various grains and other food items you see in these warehouses are only in transit; they must be stored first before they are sold to our customers.
“Storing the goods in the warehouses is essential to prevent them from being spoilt and also for convenience purposes.
“I want to inform the general public that governments and organisations purchase grains from us.
“For example, the Federal Government of Nigeria buys grains from us, and organizations such as the World Food Programme also buy grains from us and distribute them to IDP camps in Nigeria and elsewhere.
“I wonder how these esteemed customers can buy from us if we are hoarding these grains. So, I am appealing to the general public, particularly our business partners, to disregard the wicked rumour as it is baseless and unfounded.
“The truth is that we are genuine businessmen passionate about the progress and well-being of our customers as well the economic development of our dear nation, Nigeria.:
Recently, the grain dealers at the market announced a reduction in the prices of grains to ease the suffering being experienced by people in the state.
A bag of maize now sells for about N53,000, as against the old price of N60,000, while that of guinea corn now sells for N49,000, as against the former price of N55,000, depending on the quality.
Also a bag of millet which used to go for N60,000 now costs N53,000 and that of beans now costs between N85,000 and N90,000, as against the old price of between N95,000 and N100,000, depending on quality.
Similarly, a bag of soya beans now sells for N65,000 as against N68,000 before, while a bag of sesame seed which used to sell for N225,000 now costs N220,000.
A big bag of local rice which was hitherto sold for between N110,000 and N115,000 is now being sold for between N95,000 and N100,000 while that of wheat now sells for N60,000 as against N63,000.
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