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By Francesca Hangeior

The Federal Competition and Consumer Protection Commission (FCCPC) is set to wield the big stick against oil marketers.

It follows their reluctance to reduce petrol pump prices in line with the falling global crude oil price.

The planned action, the commission said, became necessary after it observed that despite downward reviews of petrol ex-depot prices by domestic refiners, marketers, depot owners and retail outlet operators had only made negligible reductions at the pumps, which were not commensurate with the sharp fall in global crude oil prices.

Following a ceasefire agreement between the United States (U.S.) and Iran two weeks ago and the reopening of the Strait of Hormuz, crude oil prices have declined steadily, with Brent crude trading at $71.99 per barrel and West Texas Intermediate (WTI) at $69.23 per barrel yesterday.

The decline represents a sharp drop from the peak recorded during the conflict, returning prices to pre-war levels.

The earlier spike in global crude prices prompted local refiners and marketers to raise pump prices across the country, with petrol rising from about N800 per litre to between N1,350 and N1,500, while diesel sold for as much as N2,000 per litre as hostilities intensified in the Gulf.

Despite the subsequent decline in crude prices, petrol still sells for an average of N1,200 per litre, although some local refiners have reduced ex-depot prices to between N1,025 and N1,075 per litre.

Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr. Tunji Bello, explained that although the commission does not regulate or approve petroleum prices in a deregulated downstream market, it has a statutory responsibility under the Federal Competition and Consumer Protection Act 2018 to promote competitive markets, prevent anti-competitive conduct and protect consumers from unfair, deceptive and exploitative business practices.

According to a statement by the FCCPC Director of Corporate Affairs, Ondaje Ijagwu, Bello said: “We are concerned that while dealers often respond swiftly by hiking pump prices whenever crude prices rise, it is curious that it is taking so long for consumers to benefit significantly when crude prices fall. Competitive markets must work fairly in both directions.

“Though recognising that domestic prices are influenced by a range of commercial and market factors, including refining costs, foreign exchange movements, logistics, financing and distribution expenses, the commission expects competitive market dynamics to facilitate the timely transmission of resulting cost efficiencies to consumers.

“Market liberalisation does not diminish businesses’ obligations to compete fairly or consumers’ right to fair treatment.

“Where credible evidence indicates conduct that undermines competition, exploits consumers or otherwise contravenes the Federal Competition and Consumer Protection Act, the commission will investigate and take appropriate enforcement action.”

However, the National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, said marketers were already complying with the reductions, explaining that pump prices had been lowered in line with refiners’ ex-depot price cuts.

“You have to know that these price reductions come in batches. As they reduce their prices, we also reduce ours.

“When Dangote Refinery reduced its ex-depot price by N50 per litre, we reflected the same N50 reduction at our filling stations.

“Any amount reduced from the ex-depot price is the same amount we reduce from our pump price,” he said.he

Maigandi challenged the FCCPC to conduct a survey of IPMAN filling stations to verify the level of compliance among its members.

“Compliance is compulsory because if you don’t comply, nobody will patronise you.

“No one will buy a product at a higher price when the same product is available cheaper elsewhere.

“Our marketers are complying. In fact, we welcome the reductions because lower prices translate into higher sales volumes,” he added.

Some operators in the downstream oil sector, however, faulted the FCCPC’s planned action, describing it as a case of double standards.

Asked to comment on the commission’s position, they argued that it was unfair to threaten marketers with sanctions in a deregulated market where pricing decisions are driven by commercial considerations.

Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, supported the FCCPC’s intervention, provided there was evidence of anti-competitive conduct.

“If there are obvious cases of exploitation or where players with significant market power abuse their position, the FCCPC can intervene because the commission has broad powers to address anti-competitive practices and abuse of market dominance.

“But it must first establish that such conduct exists before taking action. The downstream sector has many players, and there is already a framework that allows competition,” he said.

Yusuf, however, noted that despite its statutory powers, the FCCPC would find it difficult to compel marketers to reduce prices because pricing remains a commercial decision.

“If you bought stock at a particular price, your selling price is determined largely by the replacement cost. Even if you bought the product cheaper, you have to consider how much it will cost to replenish your stock. That is normal business practice, and it would be difficult to compel businesses to act otherwise,” he said.

He added that businesses generally respond faster to rising costs than falling costs because of replacement cost considerations.

“The argument by many marketers is that they still have old stock purchased at higher prices.”

“Until they exhaust that stock, they cannot significantly reduce pump prices. Once they begin buying new stock at lower prices, consumers should see further reductions,” Yusuf explained.

Bello encouraged consumers to continue reporting suspected anti-competitive conduct, misleading pricing practices and other forms of unfair market behaviour through the commission’s established complaint channels.

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By Francesca Hangeior, Abuja

The newly elected Chairman of the National Association of Judiciary Correspondent (NAJUC), Abuja chapter, Mr Olakunle Olubunmi Olasanmi has stressed on the need for members of the association to be accurate in their reporting of court proceedings, especially as the 2027 election approaches.

The chairman who observed that court reporting is a very sensitive area of journalism noted that members by being factual and accurate in their reports would go a long way in curtailing fake and false news, as well as deliberate misrepresentation of court’s decisions and pronouncements by some politicians and mischief makers.

Meanwhile, Olasanmi assured that NAJUC will work closely with stakeholders in the judiciary and security agencies to ensure conveyers of fake news and unaccredited journalists covering the courts are phased out.

Speaking over the weekend, shortly after the inauguration of the eight-member Executive Committee, the chairman also assured members that the new leadership will do its best to ensure it leaves behind a remarkable footprint by the time they would be handing over to the next administration.

“As part of plans to hit the ground running, we are going to pay all those who have had reasons to celebrate one thing or the other, like marriages, child birth, burial etc, who are being owed their entitlement in the next one month.

“I and my EXCO will look at our financial books and see the possibilities of settling all outstandings.

“Henceforth, we will take the issue of payment of monthly dues by members very seriously. As a matter of fact, subject to ratification by the NAJUC Congress, we are going to increase the monthly dues from N500 to N1000 and already, the newly elected EXCO has fashioned out ways to ensure every member pays”, he assured.

As part of efforts to ensure that the new administration excel, Olasanmi, acting on the powers conferred on him as chairman announced the setting up of a three- man Standing Committee, comprising of Mr Joseph Kadiri, Mr Sunday Benjamin Ejike and a member of the EXCO, Mr Garry Ochigbo.

He disclosed that the Committee shall be called upon to assist the EXCO in one way or the other whenever necessary.

“In the next few weeks, when Congress is called, we shall take another look at the recommendation made by the Constitution Review Committee and the amendment sought to be made to our Constitution.

“No doubt, there is need for our law book to be amended but that can only be done at our Congress, where everyone will have the opportunity to contribute one way or the other to the amendment”, he added.

Meanwhile, the chairman thanked all NAJUC members and those who stood by him, supported and believed in him, even, before the election and promised not to let them down.

“I also want to thank the out-gone EXCO for a job well done, they did their best and by the grace of God, we shall pick it from where they stopped. Also, I want to say a BIG thank you to every member of this noble association, the National Association of Judiciary Correspondent, NAJUC, for giving me your mandate.

“Before I end this address, I want to thank Mr Kayode Lawal, the immediate past Chairman of this association, for his advise, counsel and all before the election. I want to also, thank the NAJUC Electoral Committee, headed by Elder Andrew Orolua for a job well done in conducting a rancour free election and not forgetting Mr Joseph Kadiri, who has been and is still my very staunch supporter, thank you very much.

“Lastly, on behalf of the newly elected EXCO headed by my humble self, I am assuring you that as you have elected us today, we all have resolved to work for you to the very best of our abilities and in the course of performing our responsibilities, we will step on toes, pls forgive us ahead”, he pleaded.

Earlier, the immediate past chairman, Mr Kayode Lawal, expressed his gratitude to all members for making his tenure not only remarkable but peaceful and hitch free.

Recalling that the administration first came on board in 2020, shortly after the COVID-19, when everything was down in the country, but, through the unwavering support of members they were able to succeed and made some achievements.

“Upon our assumption of leadership, we made great efforts to implement some of the promises we made during electioneering process.

“Looking back today in the area of unity of members, we fare very well and we thank you all for that.

“In the area of training, we did not default. In the area of welfare, you are all in a better position to assess us.

“Nevertheless, let me say that we held our National Conference six times despite challenges. With the sustained collaboration with the NJI, we had the training six times during the six years period.

“We may not have achieved everything we promised giving the prevailing circumstances on ground, we are happy that we did not let you down”, Mr Lawal said.

He however, appealed that the same cooperation, even greater, be extended to the new leadership, noting that it takes a good followership to have a good leadership.

He also prayed the Lord to be with you the new leadership and give them the necessary strength, wisdom, tolerance and knowledge to steer the ship of NAJUC to the Promised Land.

Also speaking, chairman of the NAJUC 2026 Election Committee, Elder Andrew Orolua, congratulated the new leadership and thanked them for their cooperation throughout the election process, as well as ensuring that their campaigns were sane and met the basic requirements.

“And to other contestants who made the contest worth its name, tomorrow is another day”, he advised.

Elder Orolua, however called on all members to take the issue of payment of dues very seriously, as the association cannot make any meaningful impact when a large number of members are defaulting in their obligations.

Members of the new exco are; Chairman, Olakunle Olubunmi Olasanmi; Vice Chairman, Emmanuella Ekele; General Secretary, Alexander Enumah; Assistant Secretary, Godfrey Eshiemoghe; Treasurer, Wandoo Sombo; Financial Secretary; Austin Okezie; Welfare Officer, Oluwafemi Kuku; and Provost, Garry Ochigbo.

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By Francesca Hangeior

South African President Cyril Ramaphosa has acknowledged that citizens’ concerns over illegal immigration are legitimate but warned that violence, intimidation and vigilantism will not be tolerated during planned nationwide protests on June 30.

In his weekly newsletter released on Monday, Ramaphosa urged protesters to exercise their constitutional right peacefully and within the confines of the law, stressing that no grievance justifies unlawful conduct.

The president said South Africans had raised genuine concerns over undocumented immigration, border management, pressure on public services, and criminal syndicates exploiting the country’s immigration system.

While affirming that the right to protest is guaranteed under South Africa’s Constitution, he cautioned that such freedom does not permit threats, intimidation, vandalism or violence.

It partly reads, “South Africans have raised deep concerns about illegal immigration, border management, pressure on public services, criminal syndicates that exploit our immigration system and the impact these challenges have on communities. These concerns are real and they deserve to be heard. 

“The right to protest is enshrined in our Constitution. It is a credit to our robust democratic order that people are able to express their grievances openly. But the right to protest and freedom of expression does not allow people to threaten or intimidate others, or to engage in acts of vandalism or violence. 

“South Africa is a constitutional republic governed by the rule of law. The exercise of rights by any citizen in a constitutional democracy cannot be determined by intimidation, threats or ultimatums. It must be determined through democratic institutions, evidence and the rule of law.”

Ramaphosa disclosed that his government had accepted the need for substantial reforms to the country’s immigration system, including strengthening border management, increasing enforcement against undocumented immigration, improving the integrity of asylum and visa systems, and tackling corruption that has weakened immigration controls.

“We also recognise that where our systems have failed, they must be corrected. Where corruption has enabled illegal immigration, those responsible must be held accountable. Where enforcement has been inadequate, it must improve,” it reads.

“Over the last few weeks, we have seen support for these measures and for government’s stance from across society. We have held meetings with the country’s traditional monarchs and other traditional and Khoi-San leaders, with trade union and business leaders, with the religious community and with other formations in society.