VMT News Ltd
No 1 News Site in Nigeria

Economic hardship: Yobe government warns grain merchants against hoarding, bulk purchase


Economic hardship: Yobe government warns grain merchants against hoarding, bulk purchase

The Yobe State government has warned merchants against bulk purchase and hoarding of grains to mitigate a sharp rise in prices of commodities in the country.

This is contained in a communique signed by Alhaji Abdullahi Bego, Commissioner, Home Affairs, Information and Culture, and issued at the end of an emergency stakeholders’ meeting convened by Gov. Mai Mala Buni.

He said in the meeting held on February 10, the prevailing high cost of living in the country was extensively deliberated and certain measures were adopted to ameliorate the suffering of the people.

“ To stem the tide of food scarcity and high cost of grains and other food items resulting from bulk purchase from Yobe’s markets by people who take those grains outside our nation’s borders, the State Government has liaised with security agencies to discourage practices.

“ The State Government has also taken measures to stop the hoarding of grains and other essential commodities by businessmen and middlemen. To this end, bulk purchase of grains from Yobe’s markets will be closely monitored by security agencies to prevent and stop hoarding.

“The purchase and transportation of large quantities of grains outside the state will be similarly monitored to ensure that speculators and hoarders do not take advantage of Yobe’s markets to cause artificial scarcity and deepen food insecurity in the country.

“ The Yobe State Government will roll out concrete measures very soon to cushion the effects of the rising cost of foodstuff and other essential commodities for people across the state.

“ A broad meeting of stakeholders will be similarly convened immediately in each local government area to further discuss the food security situation in the respective local government councils in order to generate workable ideas for how to address the challenges,” he said.

Bego called on people across the state to continue to offer prayers and supplications for Almighty Allah’s intervention on the current economic challenges in the country.

Support Voice Media Trust journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country, we ask you to consider making a modest support to this noble endeavour.

By contributing to Voice Media Trust, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate into:

Dollar Account:

  • A/C NO: 3003093745

Naira Account:

  • A/C NO: 1023717841

Leave a Reply