Ogun State Governor Dapo Abiodun, on Thursday, disclosed plans to introduce a price control mechanism in the state, with the primary objective of stabilizing prices, safeguarding consumers from market volatility, and fostering economic development within the state.
In addition to the price control mechanism, the Governor also suspended all forms of market levies in the state, with the exception of development and environmental levies. These remaining levies will be utilized for the enhancement and maintenance of markets in Ogun State.
He unveiled his administration’s plans for market levies during a meeting with market leaders, including Iyaloja General Mrs Yemisi Abass, at the Governor’s Office in Oke-Mosan, Abeokuta.
In a further effort to address the rising cost of food, Governor revealed plans to launch the state government’s rebranded Gateway Trading Company, formerly known as the Bulk Purchasing Company, which will play a significant role in regulating food prices in the State.
He outlined that the primary objective of the Gateway Trading Company would be to ensure affordable prices for food items, making them more accessible to the people of Ogun State.
The Governor also highlighted that the Gateway Trading Company’s initial operations would be focused on the four distinct zones of Ogun State, marking a strategic approach to rolling out the new initiative across the entire state.
In his words, “We have also resolved to begin the implementation of bulk purchasing and selling in the state. To that end, the state government has rebranded our Bulk Purchase Company, now known as Gateway Trading Board.
“Gateway Trading will assist in providing food items to our people at prices significantly lower than what they would pay in the market.
“We will aggressively implement our Gateway Trading objectives. Initially, they will operate in the four zones, buying in bulk and reselling at more affordable prices to the public.”
The Governor issued a stern warning against market fee extortion, stating that those caught engaging in such illegal activities would face the full wrath of the law. The governor also promised to address the issue of excessive and unsustainable market rents that have been burdening traders in the state.
The Iyaloja General Mrs Yemisi Abass, expressed her gratitude to Governor Dapo Abiodun for organizing the meeting with market leaders and emphasizing the importance of finding solutions to improve the lives of residents in the state. She noted that the outcomes of the meeting were very positive, providing a sense of hope for market traders and consumers alike.
