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BREAKING; Federal Govt issues deadline to Traders to crash prices of goods
The Federal Competition and Consumer Protection Commission (FCCPC), has given one month moratorium to traders and other market stakeholders involved in exploitative pricing to crash the prices of goods.
The newly appointed Executive Vice Chairman of the FCCPC, Mr Tunji Bello, said this at a one-day stakeholders engagement on exploitative pricing on Thursday in Abuja.
According to Bello, the Commission will begin enforcement after the moratorium.
He said that the meeting was to address the growing trend of unreasonable pricing of consumer goods and services and the unwholesome practice of market associations.
Bello gave a description of the Commission’s finding that a fruit blender known as Ninja was being sold at a popular supermarket in Texas for 89 dollars (N140,000.00) but the same product was displayed for N944,999.00 in a supermarket in Victoria Island, Lagos.
Bello wondered the basis for the arbitrary hike in the price of the blender compared to the Texas, United States of America.
He said the unwholesome practices including price fixing was threatening the stability of the economy.
”Under Section 155, violators whether individuals or corporate entities face severe penalties including substantial fines and imprisonment if found guilty by the court..
”This is intended to deter all parties involved in such illicit activities.
”However, our approach today is not punitive. I, therefore, call on all stakeholders to embrace the spirit of patriotism and cooperation.
”It is in this spirit that we are giving a moratorium of one month (September) before the Commission will start firm enforcement, ” he said.
Bello said the government was aware of most of the problems raised by the market stakeholders.
”We have heard and you have genuine issues and government has the responsibility to address the problems but generally, let us talk to ourselves too.
”There are also gang ups to exploit consumers by traders,” he said.
Some of the market stakeholders who spoke at the engagement said that high cost of transportation, insecurity, multiple taxation among others were reasons for the continuous increase in prices of goods and services.
Mr Ifeanyi Okonkwo, the Chairman, National Association of Nigerian Traders, FCT Chapter, said that charges on imported goods at the Ports also contributed to the hike in prices.
Okonkwo appealed to the Commission to set up a taskforce and involve the association in its enforcement.
Mr Emmanuel Odugwu from Kugbo Spare Parts market, said the initial cost of transportation of a trailer load of tyres from Lagos to Abuja was N450,000 but now, it costs over one million naira to transport same.
Ms Kemi Ashiri, the Liaison Manager, Flour Mills, said that fines by regulators needed to be harmonised for businesses to thrive.
Ikenna Ubaka, who spoke on behalf of supermarket owners, alleged that banks’ interest rates to them were over 30 per cent, rent increment and hike in prices by distribution/ supply chains were reasons for the high cost of goods.
Ubaka also alleged that electricity distribution companies were charging supermarkets exorbitantly.
Mr Solomon Ukeme who represented Master Bakers Association, said that rapid increment of major ingredients like flour, sugar and butter contributed to the high cost of confectioneries.
He said that a bag of flour formally sold for N34,000 was now being sold for N74,000.
He said that multiple taxation was also the major cause for the high cost of bread.
The News Agency of Nigeria (NAN) reports that various market associations also attended the engagement. (NAN) (www.nannews.ng)
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JUST IN; Kenneth Okonkwo dumps Labour Party, gives reasons

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JUST IN; Kenneth Okonkwo dumps Labour Party, gives reasons

A former spokesperson for the Labour Party (LP) presidential campaign council, Kenneth Okonkwo, has declared his resignation from the Labour Party, effective February 25, 2025.

In a detailed statement shared on X this Tuesday, Okonkwo explained that his decision was driven by his belief that the party, as it stands today, is “non-existent.”

He wrote, “In the Constitution of Labour Party, the tenure of the ward, local government, and state party executives is three years (See Article 15(2)(3)(4) of the Labour Party Constitution). Having conducted no congresses at these levels within the constitutionally allowed tenure of the executives, their regimes have effectively expired.
“The former National Chairman of Labour Party, Julius Abure, and his former National Working Committee, having conducted no national convention known to law, according to the Independent National Electoral Commission (INEC), and the courts having held that the issue of the leadership of a political party is the internal affair of a political party for which the courts do not have the jurisdiction to entertain, there’s no effective leadership of Labour Party at the national level.
“The Senator Nenadi Usman-led Caretaker Committee, which was duly and legally set up by the National Executive Council (NEC) of the Labour Party, after the non-recognition of Abure-led National Working Committee (NWC) by INEC, and was given six months to conduct congresses and the convention, was the only viable option towards salvaging the Labour Party.
“Unfortunately, Abure and his colleagues, with the collaboration of outside forces, expectedly, being political jobbers, launched unnecessary legal challenges against this Caretaker Committee that have inhibited it from functioning.

“Since the party is non-existent as presently constituted, I am constrained to resign my membership of the party to all Nigerians of goodwill who supported us when we needed them most and to pledge my continued loyalty to the Nigerian people in all I will decide to do in my political future.

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“This resignation takes effect from the 25th of February, 2025, which marks the second anniversary of the presidential election of 2023, after which I will be at liberty to join other well meaning, and like minded Nigerians in charting a great future of good governance for this great country blessed by God.”

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El-Rufa’i’s Son speaks on conflict between his father, Gov Sani, gives shocking details

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El-Rufa’i Son speaks on conflict between his father, Gov Sani, gives shocking details

Son of former Governor Nasir Ahmad El-Rufa’i, and member representing Kaduna North in the House of Representatives, Hon. Muhammad Bello El-Rufa’i, has addressed the escalating feud between his father and the current Governor of Kaduna State, Uba Sani.

While acknowledging his father as his primary role model and Senator Uba Sani as his boss, Bello stated that reconciling the two figures was not his responsibility.

He emphasised that his main focus is to provide quality representation for the people of Kaduna North.

Speaking in an interview with the BBC Hausa Service, Bello expressed his disappointment over the conflict, comparing the situation to a Bollywood rivalry akin to that of legendary actors Amitabh Bachchan and Dharmendra.

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He suggested that some individuals might be enjoying seeing the two prominent figures at odds, but for him, the situation was less than ideal.

Bello’s comments come as the tension between the former and current governors continues to intensify. Governor Uba Sani has raised concerns over a substantial debt allegedly left by the El-Rufa’i administration, claiming that the state’s finances are in such poor condition that it is struggling to pay salaries.

This led to a probe by the Kaduna State House of Assembly into the alleged mismanagement of N423 billion, resulting in investigations and arrests of several former officials.

Despite the heated exchange, Bello clarified that he had not been directly involved in the dispute and that neither of the two men had discussed the matter with him. He noted that he has never heard either party speak ill of the other in his presence, raising questions about the true nature of their conflict.

In the interview, Bello also reflected on the nature of relationships and how quickly life can change, pointing out that even friendships can break down over time.

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He added that, despite the current tension, he hopes for peace and reconciliation between his father and his former boss.

The dispute, which has its roots in the transition of power between the two leaders, has grown as the investigation into the alleged financial irregularities of the El-Rufa’i administration unfolds.

While the former governor denies the accusations, the conflict shows no sign of resolution, leaving many to wonder whether the once close relationship between El-Rufa’i and Uba Sani can ever be repaired.

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PDP Govs creating crises as a precursor to defecting and establishing their own Parties

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PDP Govs creating crises as a precursor to defecting and establishing their own Parties

National Secretary of the Peoples Democratic Party (PDP), Senator Sam Anyanwu, has accused party governors and the Board of Trustees (BoT) of orchestrating efforts to remove him due to his close relationship with the Minister of the Federal Capital Territory (FCT), Nyesom Wike. In an exclusive interview with Saturday Tribune, Anyanwu claimed that the calls for the inauguration of Sunday Udeh-Okoye as the substantive National Secretary, following his affirmation by the Court of Appeal, are part of a “proxy war” led by governors and the BoT against him.

The PDP has been grappling with internal strife, driven by factions loyal to Wike and those resisting his influence within the party. Anyanwu, aligned with Wike, has been perceived as a key ally of the former Rivers State governor, who was instrumental in his unsuccessful bid for the Imo State governorship. Anyanwu insisted that his detractors are solely motivated by his association with Wike. “The truth of the matter is that these people are fighting a proxy war. They know my relationship with Wike. That’s all. I don’t have any issue with any of them,” he asserted.

He dismissed the legitimacy of the governors’ and BoT’s actions, arguing that neither holds constitutional authority within the PDP. “The governors’ forum is a voluntary organization. Any governor can decide to be a member. It’s not a compulsory thing. It’s a social gathering,” he explained. Anyanwu emphasized that he has held his position as National Secretary since before most of the current governors took office. “I know these people. The party gave them tickets to become governors. I was National Secretary before most of them became governors,” he stated.

Anyanwu alleged that the state governors are manufacturing crises within the PDP as a precursor to defecting and establishing their own political parties. “There is no issue in the party. They are just creating tension, causing unnecessary problems for them to go to the respective parties they want to form,” he claimed.

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The controversy intensified after the PDP Governors Forum, during a meeting in Asaba, Delta State, endorsed Udeh-Okoye as National Secretary. This endorsement came on the heels of a Court of Appeal ruling in Enugu that recognized Udeh-Okoye as the legitimate officeholder. Udeh-Okoye’s appointment follows Anyanwu’s temporary resignation to contest the 2024 Imo State governorship election. After his electoral defeat, Anyanwu sought to reclaim the National Secretary position, despite the South-East Zone’s nomination of Udeh-Okoye in line with party protocols.

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