Ekiti govt launches commodity price dashboard

In preparation for the commissioning of the ‘Ounje Ekiti’ retail outlet, the Ilu Eye Agro Trading and Aggregation Company owned by the Ekiti State Government has launched a commodity price dashboard.

The initiative, anchored by the Food Security Committee established by Governor Biodun Oyebanji, aims to capture daily market prices of food items sold in various markets across the state.

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In a statement jointly signed by the commissioner for agriculture and food security, Ebenezer Boluwade and his counterpart in trade, industry and investment, Adeola Omotayo on Tuesday, the management team of the company explained that the newly established dashboard will among other things provide primary data that will come in handy and be processed for the state government.

They noted that the data would help the government to make informed decisions on how to manage the food inflation curve adding that the dashboard will also serve as Ekiti State’s version of the Consumer Price Index (CPI) that will mirror the National Bureau of Statistics’ model.

The statement explained that “the government intends to intervene in the market when a particular food price is spiking without necessarily distorting the market’s variables and dynamics.

“It said the Dashboard at present captures two major markets in Ado-Ekiti namely the Oja Oba and Agric Olope markets in Ado-Ekiti and the Shasha market in Ikere Local Government Area stressing that the cutting edge tool designed to provide real time information on status, progress and impact of all government
will be expanded to feature other Local Government Areas soon.”

The statement added, “The administration of Governor Oyebanji is implementing the Food Security Initiative of the President Bola Tinubu-led administration, by creating a market platform that will buy back Agricultural commodities from the farmers thus reducing the effect of the middlemen, reducing post-harvest losses and ensuring that farmers are assured of avenues to sell their produce, encourage food production and availability.

“The launch of the Commodity Price Dashboard and the upcoming commissioning of “Ounje Ekiti” retail outlet demonstrate the Ekiti State Government’s commitment to enhancing food security and supporting local farmers.”

The state government had last year set up the Ilu Eye Agro Trading and Aggregation Company and the company presently has its aggregation warehouse at the old Textile complex in Basiri, Ado Ekiti while the retail outlet that will soon be commissioned by the governor at the Agric Olope market will kick off the whole concept in the state.