
News
FG gives traders one month deadline to crash prices of goods nationwide
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 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 high cost of transportation, insecurity, multiple taxation among others were reasons for the continuous increase in prices of goods and services.
Mr Ifeanyi Okonkwo, Chairman, National Association of Nigerian Traders, FCT Chapter, said 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 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
News
I might not be alive to contest in 2027 – Peter Obi raises alarm over threats to his life
Presidential candidate of the Nigeria Democratic Congress, NDC, Mr Peter Obi, has cried out over alleged threat to his life.
Obi, who is a major contender ahead of the 2027 presidential election said he might not be alive to participate in the election.
According to him, there is obvious attack on everything that had to do with him, including his life.
The former Anambra state governor made the allegation during a podcast with Chude Jideonwo.
“The way they are going now I might not be alive, I’m telling you every single thing I do for a living this government is frustrating it deliberately so.
“Everything, so there’s even a possibility if they have opportunity I will not be alive. I get frustrations every day because you do things that may think it may be normal it is not normal they won’t come directly and say oh we are doing this but you could see their hand in eventually everything.

“The government is attacking everybody, I am being attacked personally even to provide me with things I am entitled to, not at all,” he said.
He recalled how his vehicle was clamped down at the airport while he was right there, whereas other vehicles lined up on the same spot were untouched.
Obi further that stated that even close associates were beginning to avoid him over fear of government clampdown.
He disclosed that friends now send him invitations for occasions but tell him not to bother attending.
News
Yilwatda hails Tinubu’s intervention funds as a promise kept
The National Chairman of the All Progressives Congress (APC), Professor Nentawe Yilwatda, has said that the intervention programmes of the administration of President Bola Ahmed Tinubu have continued to demonstrate that the Renewed Hope Agenda is delivering tangible economic benefits to millions of Nigerians through strategic investments in entrepreneurship, small businesses, and youth empowerment.
According to Professor Yilwatda, the Presidential Intervention Funds represent yet another example of the Tinubu administration fulfilling its campaign promises by providing the critical financial support needed to stimulate enterprise, create jobs, and deepen economic inclusion across the country.
In a statement by his Special Adviser on Media and Information Strategy, Abimbola Tooki, the National Chairman noted that for decades, access to affordable financing remained one of the biggest obstacles confronting Micro, Small and Medium Enterprises (MSMEs), despite their enormous contribution to national economic growth and employment generation.
The current administration, he said, has deliberately moved to address this challenge through targeted intervention programmes that are unlocking the entrepreneurial potential of Nigerians.
“The Tinubu administration understands that sustainable economic growth begins with empowering the productive sector. By supporting small businesses and young entrepreneurs, government is laying the foundation for long-term prosperity and shared economic progress,” he stated.
Professor Yilwatda highlighted the ₦75 billion Presidential Intervention Fund for MSMEs as a landmark initiative designed to provide accessible financing for small businesses across various sectors of the economy.

He said the programme is enabling entrepreneurs to expand their operations, increase productivity, and create employment opportunities.
He further pointed to the ₦11 billion support package through the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), describing it as a strategic investment in strengthening the capacity and competitiveness of Nigerian small and medium enterprises.
The APC National Chairman also commended the ₦30 billion Youth Entrepreneurship Fund through the Niger Delta Development Commission (NDDC), noting that the initiative reflects President Tinubu’s commitment to equipping young Nigerians with the resources required to transform innovative ideas into successful businesses and become drivers of national development.
Professor Yilwatda emphasized that these interventions are already making meaningful differences in the lives of ordinary Nigerians. Across the country, young entrepreneurs, artisans, farmers, traders, tailors, manufacturers, and other small business owners are accessing capital to expand their businesses, employ more people, and contribute to the economic development of their communities.
He explained that the impact extends beyond individual beneficiaries, creating a multiplier effect through increased productivity, higher household incomes, stronger local economies, and expanded opportunities for wealth creation.
“The APC remains committed to building an economy that works for all Nigerians. These intervention funds are not mere policy announcements; they are practical investments in the dreams and aspirations of millions of our people.
“The evidence is clear. Businesses are receiving support, young people are being empowered, jobs are being created, and economic inclusion is expanding. This is governance that delivers results, and it is another demonstration that President Bola Ahmed Tinubu is keeping his promises to the Nigerian people,” Professor Yilwatda said.
He reaffirmed the commitment of the APC and the Tinubu administration to implementing policies that promote entrepreneurship, stimulate investment, strengthen local industries, and build a resilient economy capable of delivering sustainable prosperity for all Nigerians.
News
Ex-Minister Uche Nnaji set for arraignment as ICPC files six criminal charges over alleged certificate forgery
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has filed a six-count criminal charge against former Minister of Innovation, Science and Technology, , over alleged certificate forgery and related offences.
The charges, filed before the Federal High Court in Abuja, are contained in suit number FHC/ABJ/CR/389/2026, with the Federal Government listed as the complainant and Nnaji as the sole defendant.
According to the charge sheet, the ICPC accused the former minister of receiving N29.58 million in salaries and allowances while serving in office, alleging that he ought to have known the funds were proceeds of an unlawful act arising from corruption and fraud. The commission said the action contravenes provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
The anti-graft agency also alleged that Nnaji used his office to confer corrupt advantage on himself and knowingly presented false information to the Federal Government by submitting forged > (NYSC) and (UNN) certificates during his ministerial appointment in 2023.
In separate counts, the ICPC accused him of producing and using as genuine a forged NYSC Certificate of National Service and a forged UNN degree certificate, offences punishable under the Penal Code.
The filing of the charges follows Nnaji’s arrest last Wednesday after arriving in Abuja from Enugu aboard a chartered flight.

The prosecution stems from an investigation published by Premium Times, which alleged that Nnaji forged his university degree and NYSC certificates submitted to President and the Nigerian Senate during his ministerial confirmation.
The newspaper reported that the confirmed Nnaji was admitted in 1981 but neither graduated nor was issued a degree certificate, while the NYSC also reportedly disowned the discharge certificate attributed to him.
Nnaji resigned as minister shortly after the allegations became public. He has since defected from the APC to PDP , where he emerged as the governorship candidate of a faction of the party for the 2027 Enugu governorship election.
He is expected to be arraigned before the Federal High Court in the coming days.
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