By Ijendu Iheaka
Umuahia, Aug 30, 2024
A political analyst in Abia, Mr. Gabriel Nnaji says that the solution to federal government’s desire to cut food prices lies in fuel price reduction and not use of force.
Nnaji disclosed this in an interview with our Correspondent in Umuahia on Friday.
The Federal Competition and Consumer Protection Commission (FCCPC) on Thursday announced plans to begin enforcement of price reduction measures after one month moratorium given traders.
The analyst argued that it would be impossible for government to force food and other goods’ prices down when it made no effort to reduce the high cost of production or importation.
“It is so laughable to hear that the Federal Government has directed traders to crash the prices of food items and other goods in a month.
“How can a farmer buy a bag of fertilizer at N50,000, as against N4,000 sold under the PDP government before 2015, with no government assistance sell his cassava, yam, corn, pepper, vegetables, tomatoes, rice, and other food items cheap?
“How can a poultry farmer who buys a bag of feed at N15,000 as against N2,500 sold under the PDP government sell his or her chickens cheaply?,” he asked.
Nnaji said that the control of certain economic enablers is what would affect the cost of goods in the market and not using force to reduce the prices.
He said that no business person wishing to remain in business would import goods at the cost of N1,500 per dollar against N190.00 per dollar pre 2015 and sell the same at cheap prices.
“The Federal Government should rather be advised to reduce the high cost of fuel which now sells at N1000 per liter as against N97.00 sold during the PDP government era,” he said.
He lamented that the high cost of fuel, which is the pivot of Nigeria’s commerce-based economy, had led to hyperinflation in the country.
“You cannot force prices down through mere proclamation or policy after you increased fuel prices in the name of removing fuel subsidy.
“Yet you funded Islamic Pilgrimage with N90 billion and bought presidential yacht with N5 billion and presidential jet with N238 billion.
“How can you in all good conscience take away the business persons’ gains by force? No, this government should reason through the challenges of their actions to save Nigerians from further hardship,” he said.
Nnaji also called for a means of checking the financial recklessness of many governors which impacts the larger population negatively.