Prices crashed as Kano opens 10 warehouses accused of hoarding foodstuffs

Prices crashed as Kano opens 10 warehouses accused of hoarding foodstuffs

The Kano State Public Complaint and Anti-Corruption Commission said on Tuesday that it had unsealed the 10 warehouses sealed last week for alleged hoarding of foodstuffs.

The chairman of the commission, Muhyi Magaji, said that the owners of the warehouses had shown up and they were directed to open and sell to the public.

Magaji said, as a result, Kano had begun to witness a drop in the prices of foodstuffs.

He said, "The action taken by the commission has forced the dealers to bring the commodities to markets as well as reduce their prices.

"We visited a number of markets, including Dawanau International Grains Market, Singer Market and Kwari Market, among others.

"If you go to Shuwari market in Jigawa and Faskari and other markets in the neighboring states, you will see that the prices of grains have reduced compared to before.

"If you recall, during the operation, the owners of such warehouses were nowhere to be found but those opened were stacked full of commodities, including spaghetti, rice, sugar and other food items.

"The owners were issued a notice to report to the commission preparatory to facing charges before the court of law for their illegal activities."

According to Muhuyi, the operation made a significant impact towards checking the increase in the prices of grains and other essential commodities in the state.

He dismissed the claim by the Management of Dawanau International Grains Market that they were not hoarding foodstuff in order to create artificial scarcity.

Reports say that grain dealers at the Dawanau International Grains Market recently announced a reduction in the prices of grains following a threat by the state anti-graft agency to prosecute shylock dealers who violated the agency's order or found hoarding grains to maximize profits.

As a result of the threat, 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.

Meanwhile, the Nigeria Customs Service, Kano Area Command, said on Tuesday that it intercepted four trucks loaded with food items as part of renewed efforts to tackle smuggling.

The spokesman for the service, Saidu Nuradeen, revealed this in a statement on Tuesday in Kano.

Nurudeen said personnel of the NCS arrested the vehicles transporting a significant quantity of food items intended for illegal export along the Hadejia-Taura-Ringim axis in Jigawa State.

He listed the items to include 1,505 cartons of big and small-sized dried fish, 17 bags of local variety rice, and two bags of beans.

Nuradeen explained that the seizure underscored Customs relentless efforts to enforce the border closure policy aimed at safeguarding the nation's economy as well as ensuring food security.

"Smuggling undermines legitimate trade channels, poses risks to public health and deprives the government of much-needed revenue.

"The NCS reiterates its unwavering commitment to combatting smuggling activities across all entry points into the country," he said.

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