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FCCPC tells market traders to bring down exploitative pricing within one month

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Executive Vice Chairman of the FCCPC, Mr Tunji Bello
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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. adsbygoogle || []).push({});
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 August 29th, 2024 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 formerly sold for N34,000 was now being sold for N74,000.
He said that multiple taxation was also the major cause of the high cost of bread.
The News Agency of Nigeria (NAN) reports that various market associations also attended the engagement.
Source: NAN
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Abdulrahman Obaje
Abdulrahman Obaje
Prince Abdulrahman Obaje is a Media, Information and Computer Technology Consultant. A quintessential Journalist, online marketer, social media strategist, Mathematician and Computer Scientist is based in Abuja, Nigeria. He is the Founder and the Publisher of The Informavores!. You can reach me on +234 805 939 5252 or send i-witness report directly to me on news@informavores.com.ng.
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NLM Mobilization Director charges members to take structural formation serious

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Nigeria Liberty Movement, NLM Kogi State
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By AbdulRahman Obaje

Alhaji Suleiman Yunusa, the National Director, Mobilization and Contact, Nigeria Liberty Movement, NLM has charges NLM members nation-wide to be more serious with the mobilization and the structural formation. adsbygoogle || []).push({}); js">

He made this statement during a stakeholders meeting of the Kogi State chapter of NLM Saturday March 1st, 2025, Lokoja.

Yunusa said Nigeria Liberty Movement is a pure political movement that has come to establish an emergency national intervention for a new breed of leadership, saying that, “for emergency national intervention, we expect that everybody that is here has a burning desire”

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Yunusa further revealed that you will reap your effort according to what you put in.

“You are not going to work for Nigeria Liberty Movement, you are going to work for yourself”

“If you want to see the Nigeria of your dream, it is not all about going to the street to protest, it is not all about telling the Nigeria Labour Congress to go on strike”

“Nigeria Liberty Movement has come for self-actualisation of the citizen”

Yunusa said, “If you are a local government coordinator, all we want you to do is create your structure and even to take an elective position, NLM will sponsor your election”

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“Nigeria Liberty Movement is telling you to go and create your structure, showcase your structure and you will be empowered”, he continued.

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Abdulrahman Obaje
Abdulrahman Obaje
Prince Abdulrahman Obaje is a Media, Information and Computer Technology Consultant. A quintessential Journalist, online marketer, social media strategist, Mathematician and Computer Scientist is based in Abuja, Nigeria. He is the Founder and the Publisher of The Informavores!. You can reach me on +234 805 939 5252 or send i-witness report directly to me on news@informavores.com.ng.
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NLM Rejigs Leadership Structure, Says It’s time for Leadership by Productivity

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By Abdulrahman Obaje

The Nigeria Liberty Movement (NLM) has outlined detailed plan as it rejig the leadership structure of the party from National Executive Councils to Family Mobilisers, saying that It’s time for leadership by productivity. adsbygoogle || []).push({}); js">

This is contained in an advance Ramadan message by Amb. Moses O. Adebisi PhD, aka ThisDaysMoses, aka Al’Musa, National Leader, Nigerian Liberty Movement.

Ambassador Moses while passing his advance ramadan message said, “Despite the general acceptance of the Message of Liberty by the aggrieved members of Nigeria Society, we have a need, and that need is worthy, able and willing Liberator in our 7 Hierarchical Order of Leadership and Structural Formation.”

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“11 person at the state level across all the senatorial districts.”

“11 person at every local government level in your state.”

“11 person at every wards level in your state.”

“Requirements: We need a leader that can assemble these numbers of person together in his state, have a meeting with them, take their details and bring it to the headquarters in Abuja in person.”

“You and them would become the NWC of NLM, You and them will receive our Training, Empowerment and Leadership Tickets in Our Party and Our Government.”

“In quest for Liberty: NLM Through You, Would Emerge New Breed of Leadership in Nigeria’s Political Landscape, For Emergency National Intervention, Self Actualisation of every Nigerian and National Development.”

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He charges any member that has the capacity to lead to contact him with his or her detailed plan.
he said, “Can you take this lead for your state?, Come up hitter, Come to my dm and tell me the state you want to lead, We shall bring down this posts in 24hours”

He greats and wishes the muslim community in Nigeria a rewarding Ramadan period in advance and pray that May the Ramadan bring you ever closer to Jannah

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Abdulrahman Obaje
Abdulrahman Obaje
Prince Abdulrahman Obaje is a Media, Information and Computer Technology Consultant. A quintessential Journalist, online marketer, social media strategist, Mathematician and Computer Scientist is based in Abuja, Nigeria. He is the Founder and the Publisher of The Informavores!. You can reach me on +234 805 939 5252 or send i-witness report directly to me on news@informavores.com.ng.
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NLM FCT Chapter Postpones General Meeting, Cites Incomplete Structural Formation

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Nigeria's Liberty Movement, NLM Logo
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By AbdulRahman Obaje

The Nigeria Liberty Movement has announced the postponement of its general meeting until further notice.

This is contained in a statement dated February 20, 2025 and issued by Comrade Prince AbdulRahman Obaje, FCT Media Representative for the National Executive Council Member Nigeria Liberty Movement,  in Abuja. js">

The statement cite incomplete structural formation and the ongoing consultations as reason for the postponement.

The statement read thus, “Dear Members of the Nigeria Liberty Movement (NLM) in the Federal Capital Territory (FCT) Abuja,”

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“We, the National Executive Council members representing the FCT, wish to inform you that, in alignment with the directives from our National Leader to convene state general meetings, the scheduled general meeting for the FCT Abuja has been postponed until further notice. This decision has been made due to the following reasons:”

“Incomplete Structural Formation in the FCT: The organizational framework within the FCT is still under development, and we aim to establish a robust structure before proceeding with the general meeting.

“Ongoing Consultations with Stakeholders: We are currently engaging in comprehensive consultations to ensure that all stakeholders within the FCT are adequately represented and involved in our initiatives.

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The statement thereby apologized to stakeholders for any inconveniences this might have caused them.

“We hereby apologize for any inconvenience this postponement may cause and appreciate your understanding and patience.

“Further updates will be communicated as soon as the necessary arrangements have been finalized.

“Thank you for your continued support and commitment to the Nigeria Liberty Movement.”, the statement concluded.

Author Profile

Abdulrahman Obaje
Abdulrahman Obaje
Prince Abdulrahman Obaje is a Media, Information and Computer Technology Consultant. A quintessential Journalist, online marketer, social media strategist, Mathematician and Computer Scientist is based in Abuja, Nigeria. He is the Founder and the Publisher of The Informavores!. You can reach me on +234 805 939 5252 or send i-witness report directly to me on news@informavores.com.ng.
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