In an effort to tackle rising food prices, the Ogun State Government in South West Nigeria is set to launch the operations of its newly rebranded Bulk Purchasing Company, now known as Gateway Trading Company. Initially, the company will commence operations in four zones across the state.
This initiative aims to curb the rising prices of food items and make essential goods more affordable for residents.
Governor Dapo Abiodun announced the development during a meeting with market leaders in Abeokuta, the state capital. He also revealed plans to introduce a price control system within the state.
In addition, the governor declared the immediate suspension of all market levies, with the exception of development and environmental levies, which are designated for the improvement of market infrastructure.
Governor Abiodun issued a stern warning to those involved in collecting illegal fees in markets, emphasising that they would face strict legal consequences. He also vowed to address the high rents imposed on shop and stall owners, which have become unsustainable for many traders.
Governor Abiodun also announced the formation of a market enforcement task force, which will operate in all 20 local government areas to combat illegal levies and intimidation tactics in the markets.
He highlighted the illegal taxes currently being imposed in markets, including loading, discharge, and offloading fees, and stated that all such levies were now banned in Ogun State.
The governor also raised concerns about intermediaries who exploit farmers by coercing them to sell their produce at inflated prices. To address this, the newly formed task force will ensure such practices are eliminated.
Governor Abiodun further outlined plans to provide support for farmers’ associations through grants, loans, and access to farm equipment. He also mentioned that the government is developing a scheme to provide low-interest loans to market traders.
In response, the President of the Market Women and Men Association in Ogun State and Iyaloja of Yewaland, Chief Yemisi Abass, expressed gratitude to the governor for initiating dialogue with market leaders. She affirmed that they fully support the resolutions made during the meeting.