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

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

The director 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.”

On Thursday, the FCCPC campaign for compliance sealed 4U Supermarket Wuse 2 for breaching price and quality standards.

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

Gimbal Salasi, the executive chairman of the market, on his side, stated that the market executives are diligently working to ensure hitch-free market operations and price regulations in the market.