The Akran of Badagry, Aholu Menu Toyi I, has dissolved all market committees in the Agbalata International Market.
The decision, announced at a meeting held at the Akran’s palace on Tuesday, is aimed at curbing the activities of committees that have been dictating prices and imposing additional costs on sellers, contributing to the escalating prices of goods.
The dissolution of the committees was communicated by Chief Onu Osekan, the Jengen of Badagry, who represented the Akran at the meeting.
In recent times, traditional rulers across SouthWestern Nigeria have taken steps to check price gouging in markets.
These interventions come at a time when Nigerians across the country are grappling with the rising cost of living, driven in part by increasing food prices.
Addressing market leaders, sellers, and traditional chiefs, Chief Osekan explained that the Akran’s decision was prompted by reports of unfair practices by some market committees.
These committees were accused of restricting sellers’ ability to set prices for their goods and demanding extra fees after sales had been completed, thereby inflating the cost of essential food items.
“We are all aware of the way prices of goods are going up daily in our markets,” Chief Osekan stated. “Some sellers are not given the freedom to sell their products by some committees who will be demanding extra money.
“Henceforth, all sellers in Badagry markets have freedom to sell their products without interference from any committee.”
Specifically, the Akran mentioned that Badagry is taking inspiration from the Oni of Ife, Oba Adeyeye Enitan Ogunwusi, who has been actively involved in initiatives to lower the cost of goods in Osun State.
“The Chairman of Badagry Local Government, Mr. Olusegun Onilude, came to meet us in the palace and urged us to appeal to marketers in Agbalata on reduction in prices of foodstuffs,” Chief Osekan revealed during the meeting.
To ensure compliance with the new directive, the Akran announced that selected chiefs from the palace would be visiting markets to make formal announcements and monitor activities.
These chiefs, along with other appointed individuals, will oversee market operations to ensure that sellers are adhering to the new guidelines and that no additional charges are imposed on buyers or sellers.
Market committees, which often wield significant power in local economies, have been criticized for contributing to price hikes by imposing additional costs on sellers, who then pass these costs on to consumers.
