The Ogun State Government, under Governor Dapo Abiodun, has announced plans to introduce a price regulation mechanism in markets across the state. This measure is part of efforts to curb rising food prices and make essential goods more affordable.
Governor Abiodun further declared that all non-developmental market levies have been suspended, except for development and environmental charges, which are vital for maintaining the state’s markets.
During a meeting with market leaders, including the Iyaloja General, Chief (Mrs.) Yemisi Abass, at the Governor’s Office in Abeokuta, Abiodun revealed that the state will soon commence operations of the rebranded Gateway Trading Company. The company will facilitate bulk purchasing and selling of food products to ensure lower prices for residents.
Abiodun explained that the Gateway Trading Company will initially operate in four zones of the state, buying in bulk and offering food products at lower prices than typically found in markets.
“We have decided to implement bulk purchasing and selling across Ogun. Our Bulk Purchase Company has been rebranded as Gateway Trading Board, and they will ensure food items reach our people at prices lower than usual market rates,” he stated.
The governor also announced a ban on all forms of unauthorized market levies, creating a task force to enforce the ban. This task force, operating at both the state and local government levels, will eliminate coercion, intimidation, and the collection of illegal fees in markets.
Governor Abiodun warned that anyone caught collecting unauthorized fees would face legal action and promised to address excessive shop rents that burden traders.
“We will no longer tolerate illegal taxes and levies in our markets. Only the Development Levy and Environmental Levy, which support market upkeep, will be permitted, and even these will be transparent and public,” Abiodun said.
The Governor also revealed plans to provide grants, loans, and farming tools to various farmer associations, while supporting traders with low-interest loans through the Ogun Empowerment Scheme, in partnership with the Ministries of Industry, Trade and Investment, and Women Affairs.
Chief Yemisi Abass, the President of Market Women and Men in Ogun, expressed gratitude to Governor Abiodun for convening the meeting, acknowledging that the resolutions would ease the financial burdens on the people.
