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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)
GINI/EEE
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APC warns President Tinubu’s Minister over ‘unguarded’ party comments

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APC warns President Tinubu’s Minister over ‘unguarded’ party comments

The All Progressives Congress (APC) in Kano State has warned the Minister of State for Housing and Urban Development, Yusuf Ata, over alleged unguarded comments on party affairs.

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In a letter signed by Chairman, Abdullahi Abbas, and released to the News Agency of Nigeria (NAN) on Friday, the party voiced its concerns.

It said recent media remarks credited to Ata on internal matters and aspirants could mislead members and encourage disunity across the state chapter.

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The party noted that only authorised spokespersons may address such issues, adding that Ata holds no communications role within the APC.

It acknowledged his right to support any aspirant but reminded him that his cabinet position requires him to strengthen unity within the party.

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The letter accused Ata of making repeated “uncomplimentary and derogatory” remarks and warned that continued conduct of this nature could lead to sanctions. (NAN)

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I am not scheming to be PDP Vice Presidential candidate – Northern Governor

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I am not scheming to be PDP Vice Presidential candidate – Northern Governor

Governor Bala Mohammed of Bauchi State has dismissed claims suggesting he is eyeing the vice-presidential ticket of the Peoples Democratic Party (PDP) ahead of the 2027 general elections.

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Speaking during an interview on Channels Television, the governor addressed ongoing speculation about his political future, stating clearly that he is not positioning himself for the role. He also shared insights into the PDP’s internal strategy, zoning arrangements, and broader preparations for the 2027 polls.
“I am not withdrawing because I want to prepare myself for the vice presidency. Of course, if it is within the consensus of our party leaders and the presidential candidate to choose me.

“I am ready. But certainly, if I am not given it, I will give my maximum support to whoever emerges,” Mohammed said.

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Speaking on reports suggesting that the PDP was working on a joint ticket featuring Oyo State Governor Seyi Makinde as presidential candidate with himself as running mate, the Chairman of the Peoples Democratic Party, PDP, Governors’ Forum said the speculations were unfounded.

“I and Seyi have never discussed the issue of pairing. What we have mentioned is the issue of taking over power by the grace of God so that we can give Nigerians the opportunity of good governance in 2027 and beyond,” he stated.

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JUST IN; PDP Governors ask Peter Obi to return to its fold ahead of 2027

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JUST IN; PDP Governors ask Peter Obi to return to its fold ahead of 2027

Governor of Bauchi State and Chairman of the PDP Governors Forum, Bala Mohammed, has publicly called on Labour Party’s 2023 presidential candidate, Peter Obi, to return to the Peoples Democratic Party (PDP), emphasizing the need for opposition unity to address the country’s challenges.

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Mohammed made the appeal during Obi’s visit to the Bauchi Government House on Friday, praising him for what he described as a “new brand of politics” focused on constructive engagement and people-oriented governance.

“Your Excellency, my brother, we are really delighted by the new lease of life you bring to Nigerian politics,” he said, addressing journalists, stakeholders, and members of the Obidient Movement.

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The governor also lauded Obi’s record in education and healthcare during his tenure as Anambra State governor. “You have spoken on two critical areas — health and education. We know your passion and what you did in Anambra. This is the kind of insight and roadmap we need for Nigeria,” Mohammed stated.

Criticizing the ruling All Progressives Congress (APC), Mohammed said the current administration lacks planning and vision. He argued that the opposition must move beyond individual ambitions and align for the national interest.

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“Politics is not about sharing rice during Sallah or Christmas. It is about understanding where the shoe pinches and acting accordingly,” he said, adding that disunity only strengthens the ruling party.

“Nigerian politics cannot be done with ego, differences, or personal interests. The opposition — PDP, ADC, SDP, LP — must come together. We must harmonize our interests in the interest of the people of Nigeria,” he said.

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Reiterating his invitation to Obi, Mohammed declared, “I told you last night, and I’m saying it again publicly — we want you to come back to PDP. That’s where you belong. Don’t go anywhere else.”

Peter Obi, in response, acknowledged the governor’s warm reception and echoed his call for collaboration across opposition parties.

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“I came to Bauchi to visit two schools of nursing, but beyond that, I came to meet my brother so we can talk about the problems of the people and how to solve them together,” Obi said.

“To all of us in the opposition, it’s important that we work together. It’s no longer about us — it’s about our country. Our politics must change. It must be the politics of development, competence, capacity, and compassion,” he added.

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Obi had earlier donated N15 million to two educational institutions in Bauchi — N10 million to Malkiya College of Nursing Sciences and N5 million to Intisharu Taufizul Quranic Islamic School in Yelwa. At Malkiya, he emphasized the critical role of nurses, noting that he supports 60 to 70 nursing schools across Nigeria each year.

“This is not about politics — this is about societal progress,” he said.

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At the Quranic school, he stressed the importance of integrating Islamic and conventional education. “Our children need both Islamic teachings and skills like English and Maths to succeed,” he remarked.

In a separate meeting with Students’ Union Government (SUG) Presidents, Obi reaffirmed his promise to serve only one four-year term if elected president, describing it as “sacrosanct.”

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“Longevity in office is not a mark of success; rather, it is purposeful, accountable service — however brief — that defines true statesmanship,” he said.

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