As hunger persists, dollars keep rising, depreciating naira on a daily basis and the citizens grapple with economic hardship, many individuals and business owners are seen enmeshed in the horrendous act of hoarding, fueling the inflation crisis in the country. For over three months, Usman Yakubu Usman follows the situation in Sokoto to unravel how the ugly trend affects average Nigerians.
Mustapha Mohammad, a 42-year-old resident of Sokoto state, in northwestern Nigeria, was terrified especially from July to September when the prices of foodstuffs kept rising higher. As he resorts to one square meal a day, he becomes too frightful of the worst that may happen to him and his family. To survive, he works harder to save his family of one wife and three kids from the sudden turn of harsh economy.
Every day, in order to catch the early worm, after Subhi prayer (early Morning salat), he would take his motorcycle before many of his neighbors and head to the nook and cranny of Sokoto metropolis.
From his hard-earned income, Mohammad regularly buys two mudu of rice and maize in the alternate to feed his family. He lived with the daily routine for months. However, one thing keeps troubling Mohammad as he struggles to eke out a living in a strained economy where basic food items are becoming unaffordable. According to him, greediness of businessmen who resort to hoarding foodstuffs makes them exorbitant.
“Ideally, since the foodstuffs are not harvested now, and they were bought a long time ago at a lower price, it’s not supposed to be too expensive or sold at the present price”, he told the reporter around September.
According to him, one mudu of maize was between N2,300/N2,400 up to N2,900 for both the hoarded grains and the newly harvested, subsequently. Mohammad shook his head in sadness when asked on how the situation is affecting him, revealing further
“You don’t even have to mention that. It’s affecting us too much. This old maize by now is supposed to be sold at 2,000 naira but they won’t. They are making it N2,900. The same goes with the old rice that’s been hoarded for one or two years. They sell one mudu N4700–the same price as the new rice”, he lamented.
Despite the fuel-hike induced inflation, Mohammad believes that hoarders contribute to the suffering of many Nigerians like him—who are living hand to mouth to feed their families. He noted that even God forbids hoarding food items in the name of business–just for making exorbitant profit. He disclosed to this reporter the areas in Sokoto where grains of food are hoarded in stores. Among the places include Tsohuwar Kasuwa, Kasuwar Doya, Kasuwar Kara and other markets that open on specific days.
A peek Into the Hoarders’ Den
In September 2024, on a Tuesday, as the scorching sun flashes its ray of light, the dissonance of voices at Kasuwar Kara market echoes through the ear. Aliyu Umar, a 28-year-old wheelbarrow pusher, routinely loads sacks of grains on his wheelbarrow to many stores. He becomes an inhabitant of the market. He knows the shop owners and many businessmen. Under the guise of a buyer who intends to buy 10 bags of old rice and guinea corn at cheaper price, this reporter meets Aliyu who leads him to the areas where many businessmen are hoarding food items.
In a narrow footpath leading to the hoarders’ stores, Aliyu reveals that food items at the area are of different categories which are hidden from 1-3 years. His long years of experience at the market reflects the confidence in his narration. “In this place where they are selling guinea corn, almost all of them are hoarded specifically for this year or next year because even the new ones are not bought yet.
“You know some of the rich businessmen used to buy it in large quantities to hide until when the price rises, or everything became expensive before they would bring it out to sell. You know ‘Suna’?” He asked before he continued, “It’s the name for an old guinea corn that is hoarded for a year. Let me take you to that shop. The man has many hoarded grains in his store”, he said.
Arriving at the first store, this reporter requested ten bags of guinea corn and maize that are kept for 1-2 years with the intention of buying. A tall dark man popularly called Mondi, a well-kown hoarder wearing a kaftan, posing with a stony face leads the way into the store. From the inside, a heap of white and red guinea corn along with maize were stocked. Mondi points at the hoarded grains and names his price for each.
However, during the haggle over the price of the grains with this reporter, Mondi maintained that the prices of his hoarded food items was more expensive than the newly harvested or imported ones.
“The ones stored last year are N90,000. And the recently harvested ones are N62,000. There is no reduction because that’s how we sell it here. And many of the guinea corn here are old from what we stored last year”, he discloses, continuing “For the new one, we can sell it for you at the rate of N60,000”, Mondi said, trying to draw the reporter’s interest to settle at a certain price.
Additionally, his white hoarded guinea corn is at a higher price of N92,000 while the new guinea corn is at a lower price of N60,000. When asked about the shocking difference in the price, Mondi gives a vague answer, only saying that old grains are better.
The Hidden Face of Evil
From a distance, the long conversation with Mondi at Kasuwar Kara seems to unsettle other businessmen around who have their store stocked with grains. Some consciously look away or stare at the reporter with suspicion. According to Aliyu, he points at a nearly 50-year-old man he only knows as Alhaji, sitting on a mat. Beside him, “there are many grains of white guinea corn that are hoarded for 1-2 two years, ” said Aliyu.
When this reporter approaches him under the guise of a buyer and requests to buy from his old storage, he fumes angrily and turns away. His anger stemmed immediately at the mention of ‘old grains of last year’.
“I don’t have it”, he muttered. A further effort to negotiate with him proved abortive as he kept withdrawing his face away in disgust. Out of persistence to negotiate over the price with him, he aggressively declined again: “I will not sell it. How can you buy things that are not for sale?”, the hoarder questions the reporter, adding that he doesn’t have anything for sale despite having many sacks of guinea corn in front of him. Eventually, after glaring at the full event, a few steps away from the area, Aliyu affirmed that the man is a very rich man at the market and the only business he knows is selling grains of rice, guinea corn and maize.
During Investigation, many business owners in Sokoto, most especially those selling grains, are discovered to have ventured deeply into hoarding. The insanity of making wealth through the business leaves many commoners helpless as it increases shortage of food items and a subsequent hike in foodstuffs. This adds to the rising cause of foodstuffs on a daily basis, adding to the inflation crisis in the country.
For instance, a search shows that the prices of food items are rising the fastest in Nigeria. While the northern part of the country dominates the list, in the northwest, Sokoto state tops the list with a 50% rise, the highest among its peers.
According to a report, in 2023, Nigeria recorded one of the highest inflation rates in the world, having almost 25 percent. As the constant hoarding by business owners reduces the supply of food items and other commodities, demand for food increases and the prices of food items soar higher. Presently, at the time of filing this report, due to the continued shrinking of the economy, Nigeria recorded another onslaught of inflation In June 2024, a report by the National Bureau of Statistics (NBS) shows the staggering increase of the inflation crisis in the country, standing at 33.40 percent.
Meanwhile, the derailing effect of inflation triggers more hunger in the country, as many ordinary Nigerians hardly can afford three square meals on a daily basis due to hikes in prices of foodstuffs, hoarding remains a begrudging factor that adds to food insecurity.
Additionally, a report by the World Food Program (WFP) reveals that “between October and December 2024, 25.1 million people are likely to experience acute food insecurity”, even during harvest season. Many residents confirm that hoarders mop up food items from the market during the harvest season in anticipation of astronomical increase of prices.
Hence, the obvious hunger crisis and food insecurity results in high poverty, aggravating the worsening impact of poverty as reported by the World Bank. Further finding shows that common foodstuffs like guinea corn, maize and rice are the most hoarded products.
Hoarders in Full Supply of Grains
At 5:30 pm, when the dawn begins to make way for the evening, Alhaji Aminu, another grain supplier at Yam Market (Kofar Doya) who proudly identifies himself as ‘Sarkin Noma’, stands outside his store. He is another business owner with a store filled with rice. He has a young boy tending to customers. His large statue makes him bend when he is entering his store. This reporter requested to buy some bags of rice, especially those kept from previous years, if he could get them at lower prices.
“These ones are for last year. They are good if you want them. We sell one bag at N160000. To be sincere, we are selling it for N165,000. And the new one is N155000”, he said to the shop boy as he walked inside the store full of hoarded grains, revealing the old rice is more expensive than the new one.
The boy becomes silent when asked why the old rice is more expensive. It has become apparent that Mallam Aminu has kept a lot in his store. His silence after coming into the store was quickly replaced with a voice justifying the prices.
“It’s not like that. There is the old one, there is the new one. It’s just expensive like that. You know things have changed. Tell me the number of bags you want”, he said. When further asked whether he will sell it at the old price since he bought them long ago, he refused, adding that the price can’t change in his store. “No, even the old price is high because before, it’s N17000”, he said.
From different corners, the hoarding at Sokoto markets seems endless. Their business boom is obviously attributed to the inhumane venture. They buy it at a low price today and hide it to sell at a rooftop price the following year.
In a deliberate attempt to bypass the horror of the high price of hoarded grains, Shehu Dundaye, a 35-year-old resident of Sokoto, said he now buys the new rice which appears to be even less expensive than the old hoarded one.
“If you want me to take you to the place where they are hoarding old rice, let’s go to Kasuwar Doya. They are there. I used to buy rice everyday”, he said.
At the area, it’s discovered that ‘Suna’, when approached, Mallam Abdul Hadi, the business owner keeps counting his fortune as buyers surround him and continue buying from him. Hadi reveals that his old rice, ‘Suna’ (as it is commonly called) is N4,700 per mudu, while his new rice is N4,400. He buys them at cheaper-old-price long ago but also sells them at inflated prices.
Online Banters of Hoarders
Sadly, the greedy hoarding practice found a bragging space online, with several food hoarders showing off on social media. Amid the inflation crisis that pervades the country, for instance, a video circulating on Facebook shows a merchant with sacks of rice piled up in a store, saying he has hoarded the grains for many years. He vowed to hide thousands of his bags of rice to make exorbitant profits in the future.
“I swear I have three hundred bags of rice. If the price doesn’t reach ₦150,000, I will not sell it. The ordinary Nigeria should go and die, very stup!d and senseless people. I don’t care. Here the store is full of rice. Show it to them. If you didn’t insult me, may God forsake you,” he cursed in the video.
The online banter appears more disgusting at the time of its circulation due to the escalation of high prices on foodstuffs. Unfortunately, the situation has become more appalling as newly harvested food items are hoarded to create shortages.
Hoarding Adds to Nigeria’s Economic Woes
Due to incessant hoarding, many citizens lament soaring food prices. They believe that hiding foodstuffs for exorbitant profit adds more to the economic woes. Mubarak Ibrahim, a resident of Plateau state, laments on the grueling effect of hoarding. He argued that many business owners hide food items in stores for years and make many petty traders and small-scale business owners suffer losses and subsequently abandon their business due to high increase in prices.
“We have big stores in Jos. People have been raising issues on hoarding. There are stores in Jos that reach years, and nobody opens them. That’s why people attempt to break the shops during hunger protests, just to pack the items. The hoarders are there in Yan Kwanli Market. They’re making us suffer.
He continues: “We have a lot of issues with sugar and flour. People suffer a lot when buying these items. Many People stopped their business like the akara sellers, meat pies, Chin Chin and the rest. The bread bakers protested on the issue because of the astronomical prices imposed on the items
In a mournful tone, a Kano resident, Sale Abubakar also bemoaned “The thing is that, in this kind of hardship, and what I know is that when a thing is kept for long then it used to be cheap but that’s not the case with marketers. Seriously, the issue is bad. The government should do something about it because we can’t do without eating food”, he said.
Business Owners Speak
When this reporter approached Alhaji Aminu Sarkin Noma, he denied hoarding foodstuffs and informed the reporter to come to his shop and check.
“That’s a lie because I am one of the business owners. We are selling our goods at the present price. We are not hiding foodstuffs. All of the goods are there with us. I am not among those who hide any foodstuffs. And if I have it, then come see it at my shop”, he said.
Similarly, speaking with Abdul Hadi, he denied hoarding foodstuffs.
“In our place, Kofar Doya, we don’t hide grains of rice. They are just bringing it for us to buy and we sell it. Anybody that brings rice, he just brings it to sell but not to hide in this place. It’s not good to hide. Our rice Suna (old rice) is cheaper than the new rice”, he said.
What the Law Says
However, the Price Control Act prohibits the abuse of prices of goods in the market and provides punishment for market offences which include hoarding and other related offences. Section 1(i) of the act states that if a person holds (controlled) commodities and refuses to sell the commodity in question while having it in stock, the individual shall be sentenced to imprisonment for not less than six (6) months without the option of a fine.
The act also notes when a person is convicted in regard to the above offences, the proceeds shall be paid into the Consolidated Revenue Fund of the federal government.
Expert Weighs In
Audu Bello, an economy and finance expert at the Usmanu Danfodiyo University, Sokoto, condemned the idea of hoarding food items especially when there is an urgent need for food. He also stated its negative implications on the economy.
“It is wrong to buy goods which people are in need of, hold it until the price increases before you sell it. In this situation people need to have the conscience of their fellow humans and do what is right for the interest of their creator to be happy with them,” he advised.
“Hoarding is not a new thing in Nigeria, it has been in practice for many years. People hoard petrol, fertiliser, and foodstuffs in order to take advantage of higher prices,” he added, noting that, “many people are in a difficult situation because prices of goods keep increasing and their salary is fixed. So, they cannot buy and take good care of themselves and their families.”
Suggesting ways and means to curb the practice of hoarding food items in the country, he said: “The issue can be taken to the National Assembly. They will make laws about it. The second option is for the government to have its own outlet that sells these goods at a cheaper price on a retail basis to individuals.”
FCCPC Reacts
We contacted the Federal Competition and Consumer Protection Commission (FCCPC) in Katsina for comments on the trending practice of food hoarding. Othman Abdulkareem, the coordinator of the Northwest zonal office, said: “The federal government once directed us in March 2024 to do something. We had fact findings in Katsina and other areas. We covered six states. These are Sokoto, Kebbi, Zamfara, Kaduna and Jigawa.
“In fact, my head office even directed further that we should send our report to the federal government so that we can swing in action. We have a substantial law, but implementation is the big problem.”
Othman lamented that even the government officials who make the law are aiding hoarding in the states, by going after the farmers during harvest to buy the items in large quantities to hide and make more money.
“The scenario has changed. What we understand is that these money bags, most especially the lawmakers of our constituencies, are the ones that often go to the farms to buy the yield so that they can now hoard it,” he said.
“Recently, we have a report where we also discovered that there are some people who are coming from the south, bringing a lot of money to buy and hide in order to create artificial hunger. We have made a retreat for that. The second retreat is that we are going to markets to sensitise and educate the people. This commission is doing all it can to sensitise the people.”
He continued: “We once submitted our report. But we realised that something is missing in the north. What is missing is that the Marketing Board are the ones who buy from the farmers and put a subsidised price when there is a hike in prices. They will buy it so that the price will be cheaper. And people will get it at an affordable price.”
This report was produced as part of the Liberalist Centre’s Journalism for Liberty Fellowship project with funding support from Atlas Network.
Note: Due to constant change in prices of food items, this report is documented based on the price of food items discovered at the time of filing this report.
