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FG May Establish Commodity Pricing Board In 2017

By Modupe Gbadeyanka

All things being equal, a commodity pricing board may be established by the Federal Government next year to checkmate prices of commodities at the market.

This was disclosed to newsmen in Abuja at a press conference by the Minister of Agriculture and Rural Development, Mr Audu Ogbeh.

However, the Minister noted that before this was done, a public debate would be held to extract views of stakeholders on the matter.

According to him, a minimum guaranteed price for crops was necessary to ensure balance for consumers, adding that some people were of the view that farmers were cheated.

Mr Ogbeh noted that commodity pricing boards had been established in the past in Nigeria, but pointed out that they had never worked.

“Commodity boards were set up before but somehow, they did not work.

“The debate now is that, do we go back to the commodity boards or not, but we will arrive at something soon.

“We may have to hold a public hearing on this matter. There are those who said that there were abuses.

“Some people were of the view that farmers were cheated, while others said the system worked well because they guaranteed quality control, educated farmers on what to do.

“The views are very strong on either side, we intend to hold a public debate quickly, analyse them what we have and see what is best.

“Give us a little time, maybe, early next year, we will find a solution to that. We have a duty to protect the Nigerian consumers,” the Minister said.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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