
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 regret trusting my community elders,’ says Cubana Chief Priest after primary election defeat
Pascal Okechukwu, popularly known as Cubana Chief Priest, has reacted to his defeat in the All Progressives Congress (APC) primary election for the Orsu/Orlu/Oru East Federal Constituency seat in Imo State.
The celebrity businessman, who serves as the Imo State Coordinator of the City Boys Movement, had sought the APC ticket to contest for a seat in the House of Representatives.
Reacting after the outcome of the primary election in a viral video, Cubana Chief Priest said he had no regrets contesting for the position. Still, he expressed disappointment over what he described as misplaced trust in community elders.
“I’m a hustler, and I didn’t regret trying to contest for a position. My only regret was trusting the elders in the community. I know how much I gave them, but only 14 people voted for me in the primary,” he said.
Cubana Chief Priest had announced his political ambition earlier this year, advocating for what he described as cleaner and issue-based political participation driven by young Nigerians.
Following his defeat, reactions trailed the outcome on social media, with some users mocking the businessman and suggesting he may have underestimated the dynamics of Nigerian politics.

However, Ossai Ovie Success defended him against online criticism.
“Why are people mocking Cubana Chief Priest? Not nice… it’s ok to try and try again,” he wrote on Facebook.
“He lost an election and so what? I am disappointed,” he added.

News
Peter Obi mourns 17 police officers killed in Yobe deadly terror ambush
Former Labour Party presidential candidate, Peter Obi, has expressed deep sorrow over the killing of security personnel during a recent terrorist attack on a military school in Yobe State, describing the deaths as a painful national tragedy.
In a statement issued on Saturday, Obi extended condolences to the leadership of the Nigerian Armed Forces and the Police following the reported death of 17 police officers and an unspecified number of soldiers during the attack.
“I extend my sincerest condolences to the High Command and Leadership of the Nigerian Military and the Police over the tragic loss of our courageous officers,” Obi said.
“It is with deep sadness that I acknowledge the heartbreaking death of 17 brave police officers, alongside an unspecified number of soldiers, who made the ultimate sacrifice during the recent terrorist attack on a military school in Yobe State.”
The former Anambra State governor said the nation must stand in solidarity with the military, police authorities, and the families of the slain officers.
“At this moment of profound sorrow, the entire nation stands in solidarity with the leadership of the Armed Forces, the Police, the affected commands, and the wider security community,” he stated.

Obi stressed that the continuous loss of security personnel and innocent civilians should not be treated as routine, warning that insecurity must be confronted with urgency and sincerity.
“Every security personnel killed is a tragedy to our nation. Every fallen officer represents a family thrown into grief, children left without parents, and communities robbed of those sworn to protect them,” he said.
He called on the Federal Government to prioritise the welfare of families of fallen officers through adequate compensation and long-term support.
“The Federal Government must ensure adequate compensation, support, and long-term welfare for the families of all those who paid the supreme price in service to our nation,” Obi added.
The Labour Party chieftain further urged authorities to adopt decisive and strategic measures to tackle insecurity across the country.
“A nation cannot continue to normalise the killing of its security personnel and innocent citizens without urgent, decisive, and strategic action. We must confront insecurity with sincerity, professionalism, and the political will necessary to protect lives and restore public confidence,” he stated.
Obi also sympathised with the bereaved families, assuring them that the sacrifices of the slain officers would not be forgotten.
“To the families of the fallen heroes, I offer my deepest and most heartfelt sympathies. We mourn with you, and we honour the courage and sacrifice of your loved ones. May their souls rest in eternal peace,” he said.

News
Enugu 2027: Civil society group kicks against Nnaji clearance
A Civil society organization, The Defence for Democracy, has criticized the People’s Democratic Party (PDP) for clearing former minister of Science and Technology, Uche Geoffrey Nnaji, to contest the primaries for the forthcoming governorship elections in Enugu State despite being under investigation over alleged forged credentials.
Nnaji resigned from President Bola Ahmed Tinubu’s cabinet over allegations of forgery and is currently being investigated by relevant authorities.
In a statement issued by the National President of the organisation Dr. Emeka Nwachukwu, and made available to journalists, the organisation questioned the integrity of the entire screening and accused the party of working in favour of the ruling All Progressives Congress (APC).
The organisation said the APC will have sufficient grounds to fast-track accelerated hearing of the forgery case and eventually upturn any victory in the name of the former minister should he win.
The group stressed that “leadership must be built on trust, integrity, and credibility. The people of Enugu State deserve leaders whose records can withstand public scrutiny without fear or controversy.”
The organisation emphasized that while the allegations are not yet proven before a competent court of law, the PDP has a moral responsibility to raise the red flag on the former minister, “Because we are all in this country, and we know that in an event that this former minister wins, there will be an accelerated hearing that will hand over that victory to the APC.

“We believe firmly that Enugu deserves honest leadership, grassroots connection, and a leader who understands the pains of the people, and there are many such people.
“From our findings there are people who represent a great future, and as an organization, we stand for good governance, and when our findings throw up people of impeccable character, we naturally step in to ensure that they excel.
“We therefore find it strange that people can move from controversy to ambition without addressing the questions hanging over their names.”
The organisation called on the aspirant to immediately clear his name before throwing himself into the race, stressing that the allegations and public reports surrounding his academic credentials are too weighty to be ignored.
The organisation called on the National Secretariat of the PDP to immediately intervene and save the party the embarrassment, stressing that “We are watching events in Enugu and other parts of the country, and we would have issued this statement to congratulate the Enugu state chapter of the party if it screened out the former minister, because there is a moral burden there which is far beyond what the courts might eventually pronounce.”

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