Northern Nigerian Breaking News

Kano traders accuse Dangote, BUA of inflating prices of essential commodities 

By Muhammad Alhaji

As Kano Public Complaint and Anti Corruption Commission (PCACC) begins closure of  warehouses hoarding essential commodities in the state, some traders have accused Africa’s richest man Aliko Dangote of Dangote Group and his counterpart, Abdulsamad Rabiu of BUA Group of inflating their goods prices amid economic hardship in Nigeria. 

According to the chairman of traders under the umbrella of Singer Market Association, Muhammadu Adakawa, they are being forced sell their commodities at lower prices despite buying at higher rates. 

Adakawa disclosed this today while receiving Muhyi Magaji Rimingado, chairman of PCACC alongside armed police officers, who shut several warehouses along Dawanau International Grains Market, Singer Market and Kwari on Sunday.

“Today, we bought Sugar from the company at N70,000 but selling at the price of N68,000. We have all other commodities reduced.”

elsamad new

Meanwhile, warehouses that were discovered hoarding essentials have been summoned by the anti graft commission. . 

“As you can see, the Kano state Public Complaint and Anti Corruption Commission (PCACC) has made true its promise that we are going to embark on a fight against hoarding of essential commodities in the state. We started last Thursday and we have made a significant impact towards stopping the instant rise in the price of essential commodities. It was such that within a week, rice had jumped from N52,000 to N61,000 within a week,” said Rimingado. 

“From what we have done so far, firstly, we were able to stop the instant increase in prices of the commodities and secondly we have the belief that if we sustain the tempo we will be able to bring down the prices from where they have gotten to. As you can see now, we are going round the warehouses and we met a lot of issues which after we go back to the office we are going to digest.”

Comments are closed.