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Exploitative Pricing: Traders reveal what’s making foodstuffs prices to go up
Some traders in the Federal Capital Territory (FCT) and environs have called on the Federal Competition and Consumer Protection Commission (FCCPC) to back down on its planned enforcement on exploitative pricing.
The traders who spoke to the News Agency of Nigeria (NAN) in Abuja on Sunday, said that transportation cost occasioned by the increase in the pump price of fuel was a driving factor on prices, especially food.
Ahmed Shehu, the Chairman of Nyanya Market Traders Association, said that traders do not just inflate prices of their goods.
Shehu listed factors that contributed to the hike in food prices to include transportation cost, insecurity and bad roads.
”If I want to go to Orange market, from Nyanya market to buy tomatoes, it cost about N2,000 to N3000 to do it before, but now, it costs about N15,000 to bring baskets of tomatoes from Orange market to Nyanya market.
”The trader will have to put all these things together and calculate their profit margin.
”What controls almost everything we do in the market is transportation, apart from the bad roads that we have,” he said.
Shehu said that the government needed to revive its refineries to help crash the prices of petroleum products and food items.
He appealed to the FCCPC to expand its meeting with traders to include representatives from Ministries of Petroleum and Transportation so that traders would voice their challenges to them.
The chairman appealed to the government to venture into mechanised farming to enable them produce some food products.
This he said would help crash down the prices of food.
”When governments (state, local) are producing tomatoes, rice and others, if they sell at a cheaper rate then, every other seller will be forced to bring down their prices”.
Mr Aloysius Oko, a cobbler at Mararaba market said the increase in the pump price of fuel had made the cost of his cobbling materials to triple.
Oko said it cost about N5,000 to make a new slippers before but the same slippers now cost about N15,000.
”I do not understand what the government is doing. They know what to do but surprisingly, they are not doing it.
”Why will they be talking about bringing down the prices of goods but they are increasing fuel pump price.
”It will not work, the government needs to do something urgently,” he said.
Mrs Fatima Hameed, another trader at Gariki market, said that no seller would sell his products below his cost price.
Mr Tunji Bello, the Executive Vice Chairman of FCCPC had said that the Commission had  identified patterns of price fixing perpetrated by some market associations, price gouging, and other anti-consumer practices.
He said the Commission had noticed the margin in the prices of imported goods which he said was very disproportionate in many cases.
For locally produced goods, Bello said the Commission had noticed that some traders were excessively inflating prices.
He said the Commission would commence enforcement on those involved in exploitative pricing.
”Such practices are against the law and constitute some of the offences the Commission is against.
”To be clear, price gouging and price fixing are not only unethical, but patently illegal also under the FCCPA.
”Section 17 of the Act empowers the Commission to eliminate anti-competitive practices, misleading, unfair, deceptive, or unconscionable marketing, trading, and business practices.
Sanctions include fine of up to N10 million and a jail term for anyone found guilty by the court,” he said.
He said the Commission would soon commence enforcement on those involved in exploitative pricing. (NAN)
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Man fakes his own Kidnapping, forces Brother to sell property for N12 million ransom

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Man fakes his own Kidnapping, forces Brother to sell property for N12 million ransom

The Edo State Police Command has uncovered a staged kidnapping in Ekpoma, where a man allegedly faked his own abduction, forcing his brother to sell property to raise a ransom.

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The incident was reported to the police on January 10, according to a statement issued by the state Police Public Relations Officer, SP Eno Ikoedem.

Investigations revealed that the supposed victim, identified as Idris Isiaka, a vulcanizer based on Balogun Street in the Emaudo community of Ekpoma, conspired with two accomplices to orchestrate the fake kidnap.

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Police said Isiaka arranged for news of his “abduction” to be circulated on social media through a blogger and subsequently demanded a ransom of ₦12 million from his family.

Believing the story to be genuine, his brother reportedly sold a personal property in a desperate bid to secure his release.

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However, detectives later uncovered the deception and arrested Isiaka along with his collaborators.

The police described the act as criminal and deceitful, warning members of the public against engaging in similar schemes.

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The suspects are currently in custody and are expected to face prosecution once investigations are concluded.

The PPRO explained that the suspect “immediately engineered the circulation of his kidnap on social media through a blogger and demanded a ransom of Twelve Million Naira.

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“His family in Kogi State was further contacted, threatening that he would be killed if the ransom was not paid”.

He said the brother, however, “sold his property and paid part of the ransom money which was shared with his accomplices, one Mohammed Saliu and Godwin Mohammed, both of whom are currently at large.

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“The suspect has confessed to the crime. He will be arraigned in court after investigation”.

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Kwankwaso sets tough conditions for possible APC defection

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Kwankwaso sets tough conditions for possible APC defection

Former Kano State Governor and National Leader of the New Nigeria Peoples Party (NNPP), Senator Rabiu Musa Kwankwaso, has indicated that any move toward the All Progressives Congress (APC) would depend on firm guarantees regarding political control in Kano and the protection of his supporters.

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He made this known on Wednesday at his Miller Road home in Kano while receiving party leaders and loyalists from Rano and Dawakin Tofa Local Government Areas, as well as members of various Kwankwasiyya groups who used the visit to restate their allegiance to the NNPP.

“I didn’t say I won’t join APC, but we must first be clearly assured of the future of the Kano State government before we join the APC. What will be the fate of our lawmakers and other supporters before we agree to defect?” Kwankwaso said.

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Reflecting on previous political alliances, the former governor warned against repeating past mistakes, recalling how his political bloc once helped to build a government but was later marginalized.

“In the past, we joined and contributed to forming the government, but later we were abandoned. That was why we left the party. Have they now changed their position toward us? Everyone knows the role we played at that time,” he added.

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Kwankwaso emphasised that discussions about defection remain premature, insisting that no concrete commitments have been offered to safeguard the NNPP’s hold on power or its organizational framework in the state.

“Up till now, no one has given me a clear assurance that we will be allowed to retain our government and continue with our political structure. I need to know where I stand,” he said.

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The gathering drew several senior government and party figures, including Deputy Governor Comrade Aminu Abdussalam Gwarzo, Commissioner for Science and Technology Yusuf Kofar Mata, NNPP state chairman Hon. Hashim Sulaiman Dungurawa, and other prominent officials. All openly reaffirmed their loyalty to Kwankwaso and the Kwankwasiyya Movement.

Political watchers noted that the visible solidarity from top officials points to growing internal tensions and further underscores Kwankwaso’s strong grip on the party, especially amid rumors surrounding a possible defection of Governor Abba Kabir Yusuf to the APC.

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Analysts believe Kwankwaso’s measured position reflects a broader strategy to secure political structures and protect loyalists as preparations gradually shift toward the 2027 general elections.

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Suspected notorious kidnapper linked to multiple kidnappings arrested by Police

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Suspected notorious kidnapper linked to multiple kidnappings arrested by Police

The Police Command in Rivers on Wednesday, said it has arrested an alleged notorious kidnapper linked to multiple kidnapping incidents in the state.

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The Command’s spokesperson, CSP Grace Iringe-Koko, disclosed this to journalists in Port Harcourt, stating that the suspect was arrested on Jan. 10.

She said that the suspect aged 30, was identified as the ringleader of a notorious kidnapping syndicate, that coordinated several abductions for ransom across the state.

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According to her, the suspect who is responsible for multiple kidnappings along the Port Harcourt International Airport Road, Omagwa, was apprehended by operatives of the Command’s Anti-Cultism Unit.

“The suspect was planning to relocate his operational armoury and camp to Agbonchia/Oyigbo Road in Eleme Local Government Area before his arrest,” she said.

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She said that the recovered items include an AK-47 rifle with breach number 2125 and two magazines loaded with 36 rounds of 7.62 x 39mm live ammunition.

The spokesperson said that during preliminary investigations, the suspect voluntarily confessed to being the ringleader of the kidnapping syndicate.

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According to her, the suspect and exhibits are currently in police custody, while efforts are ongoing to apprehend other fleeing members of the gang. (NAN)

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