Business
Ogun Will Remove Market Levies and Bring Back the Bulk Purchase System
Introduction: In a recent announcement, Governor Dapo Abiodun of Ogun State revealed transformative policies aimed at improving market conditions and reducing food prices. Key changes include the removal of most market levies and the reintroduction of a bulk purchase system through the newly rebranded Gateway Trading Company.
Key Changes Announced:
- Elimination of Market Levies
- Governor Abiodun has decided to abolish all market levies, except for development and environmental levies. These changes are intended to reduce the financial burden on traders and promote fair market practices. A new task force will be established to ensure that illegal fees and intimidation are eliminated.
- Reintroduction of Bulk Purchase System
- The state government will revive the bulk purchase system through the Gateway Trading Company. This rebranded initiative will allow Ogun State to buy food items in bulk and resell them at lower prices, making essential goods more affordable for residents. The company will operate in each of the state’s four zones.
- Addressing Transportation Costs
- Governor Abiodun highlighted the issue of high transportation costs, which sometimes exceed the cost of the goods themselves. Measures will be introduced to manage and reduce these costs, ensuring that transportation expenses do not adversely affect food prices.
- Support for Farmers and Traders
- To support local agriculture and market trading, the Ogun State government will provide grants, loans, and farm equipment to farmers. Additionally, low-interest loans will be available to market traders through the Ogun Empowerment Scheme.
- Enhanced Waste Management
- Effective waste management in markets will be a priority. The Ogun State Waste Management Agency, Ministry of Environment, and Ministry of Women Affairs will collaborate to ensure that waste is managed efficiently, with regular dumpster emptying to maintain cleanliness.
Conclusion: Governor Dapo Abiodun’s new policies are set to significantly impact Ogun State’s market landscape by reducing financial pressures on traders and making food more affordable for residents. The reintroduction of the bulk purchase system and removal of market levies are key steps in this transformative approach.
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