Jubilation as APC Governor Announces 3 Steps to Reduce Food Prices

Governor Dapo Abiodun of Ogun State has revealed three significant initiatives aimed at reducing the high cost of food items in the state. This announcement follows a meeting with key market leaders, including the Iyaloja General, Chief (Mrs.) Yemisi Abass, on Thursday, September 12. The move comes as Nigeria grapples with surging food prices due to the recent hike in fuel costs.

Gateway Trading Company Revamp

The first strategy involves revamping the Gateway Trading Company to implement a price control mechanism. Through bulk purchasing and strategic selling in major zones, the government aims to make essential food items more affordable. This approach is expected to drive down costs across the state.

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Suspension of Market Levies

In a bid to ease financial pressure on traders, Governor Abiodun also announced the suspension of all market levies, except for necessary development and environmental fees. A market enforcement task force will be established to ensure compliance and prevent illegal levies or intimidation of traders.

Low-Interest Loans and Grants for Traders

To further support traders, the state government will offer low-interest loans and grants. Additionally, efforts will be made to improve market waste management systems to foster a more conducive business environment.

Governor Abiodun’s statement emphasized, “Our rebranded Gateway Trading Company will begin bulk purchasing and selling in key zones to lower prices.”

These measures come in the wake of ten days of nationwide protests sparked by the increasing cost of living, exacerbated by the fuel price hike.

New Minimum Wage Pledge

In a related development, Governor Abiodun also reaffirmed his commitment to implementing the new minimum wage, positioning Ogun State as a forerunner in adopting the policy. During a meeting with workers’ representatives on September 11, the governor discussed his administration’s efforts to mitigate the effects of fuel subsidy removal on the populace.