Traders dealing in essential goods in Kano State have announced their intention to decrease prices of their merchandise. This decision was revealed by the Chairman of the traders, Ibrahim Danyaro, during a press briefing following a meeting with the Chairman of the Kano State Public Complaints and Anti-Corruption Commission, as reported by The Vanguard.
This move comes in the wake of the seizure of 10 warehouses containing hoarded assorted food items in the state by the Kano State Public Complaints and Anti-corruption Commission. Muhyi Magaji, the chairman of the commission, stated that the owners of these warehouses were absent during the operation, but those that were accessible were found stocked with items such as spaghetti, rice, pasta, sugar, and other food products.
Danyaro emphasized that the traders are currently selling their goods in the market at prices below those set by the companies. He attributed this decision to public outcry over the escalating prices of essential goods and the overall high cost of living in the country.
Furthermore, Danyaro pledged the traders' support to the commission in identifying and penalizing those responsible for unjustifiably inflating prices and hoarding goods.
He stated, "We distance ourselves from hoarding and have presented evidence to the commission, convincing them of our innocence. The price hikes observed in the market are not arbitrary actions by our members but are imposed by the companies. We have proposed measures to address this situation, including holding discussions with the manufacturers to ascertain the reasons for price inflation."
Danyaro also assured cooperation with the commission to lower commodity prices and alleviate the burden on consumers, although this can only be achieved with the existing stock. He highlighted that the current market prices are below those set by the companies.
Another market leader, Hamisu Rabi'u, reassured residents that existing stock would be sold at previous prices despite the increasing market rates. He provided examples of price disparities between market and company prices for various goods, underscoring the traders' commitment to preventing price hikes beyond the reach of the populace.
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