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FCCPC uncovers cartel responsible for price inflation

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The Federal Competition and Consumer Protection Commission has sounded the alarm on a ‘cartel’ manipulating market prices nationwide, inflating costs for goods and services despite government stabilisation efforts.

Addressing stakeholders during a one-day engagement on exploitative pricing in Uyo, Akwa Ibom State, FCCPC Chief Executive Officer, Mr. Tunji Bello, revealed that the commission’s investigations in major cities have uncovered troubling practices.

In the poultry sector, Bello highlighted how influential players are dictating prices, severely impacting smaller producers. “Small poultry owners previously sold a day-old chick for between N480 and N590 and still made a profit. However, the entry of two major market players changed that,” he stated, choosing to withhold their names for now.

He explained that these entities injected substantial capital into the market, ultimately controlling 80 to 90 percent of the poultry sector.

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“These big players used their financial clout to hijack the local poultry farmers’ association, mandating that day-old chicks be sold at N1,350, which contradicts the economic principle that greater production typically lowers prices,” he added.

Bello emphasised that this manipulation is why prices remain high despite various governmental support for the poultry industry. Over the past year, the Federal Ministry of Agriculture and Food Security has assisted poultry farmers with broilers, vitamins, feeds, and cash through numerous interventions across Nigeria’s six geopolitical zones.

He also pointed to exploitative pricing in the packaging sector, citing a cartel of five dominant players responsible for importing and supplying packaging materials.

“They operate in a mafia-like manner. If you attempt to negotiate with one, they tip off the others, ensuring uniform pricing,” Bello lamented.

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Regarding the lack of sanctions against these sharp practices, Bello explained that the FCCPC initially opts for dialogue in the spirit of democracy rather than enforcing the act, which carries severe penalties, including hefty fines and jail time.

He urged the business community in Akwa Ibom to collaborate with the FCCPC to tackle exploitative pricing and promote market integrity.

To alleviate the economic burden on consumers, Bello noted that President Bola Tinubu has introduced several relief measures, including the removal of tariffs on food imports, VAT on pharmaceuticals and medical devices, tax waivers for businesses and public transport, and facilitating easy credit for converting vehicles from petrol to CNG.

“It is only fair that our businessmen and traders share the benefits of these measures with consumers through reduced prices,” Bello stated.

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Several speakers at the event expressed concern about the high cost of doing business in Nigeria, particularly citing rising interest rates, multiple taxation, and increased electricity tariffs as significant challenges.

Earlier, Executive Commissioner for Operations at the FCCPC, Dr. Abdullahi Adamu, called on stakeholders to provide suggestions to address cartel activities and improve the market situation in the country.

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31st October! World Day For White Towel

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It takes and does a lot, cleaning and becoming dirty in the process. Always at the service, doing selflessly very difficult tasks without
complaining.

Towels are quite essential, but white towel , one that exposes in a very subtle way the very sense of ones purity, diligence, sanitation or otherwise.

Nothing defines one more than towels.

The colour of ones towel defines who one is, very succinctly. Forget the packaging, the colour and neatness of ones towel tells in seconds the tale of ones cleanliness or otherwise.

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They come in different colours ( Red, black,gray , brown, white etc) As good as these colours are, white is always great, appealing to the sensitivity of all.

However, not all have the power and potential to keep it spick and span always.
White Towel! mild and peaceful. With an aura ,so exquisite, it suites every personality, brings out the royal and kingly ambience in an environment or trapped in oneself.

It covers shame, dries wetness , exposing who one is , either in dirtness or in cleanliness at a glimpse.

From today 31st of Oct. The last day in October, heralding November and its deep spiritual and physical significance, let your life be viewed and censored from the white fabric of a white towel. As much as this sounds very literally, it is beyond the literal meaning of it.

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As much as it is good to have a white physical towel, having it personified and expressed in a relationship, the very best thing that can happen to anyone.

White Towel personified, the greatest treasure one can have. Such person would always pick ones faults and makes one conscious of them, persuading one to make amends before it becomes engraved and irredeemable.

Such a person does not know how to cover faults, bad behaviour and risky demeanour . Unlike other colours, hidding such is easier until it becomes a smelling matter due to negligence, carelessness and procrastination to wash.

Today is 31st of Oct, if you are not a white towel to someone, resolve to be from today. If you don’t have a white towel personified as a friend, look for one now. With such a person, always on the toes will be a lifestyle for one , being conscious and always ready to come clean in all things , a habit.

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Beside having a physical and personified white towel, Jesus, the lamb of God, is white enough to be ones towel.

He cleanses us in our dirtiest moments, showing us how dirty we are immediately, not to condemn, disgrace, embrass etc rather to encourage and persuade one to always wash ones life in the blood, for all time cleanliness.

A physical white towel plus a personified white towel and a white towel in the incarnate Jesus equal to a life of infinite access into the holy of holies, unceasing blissful fellowship with God and a peace of mind that is divine.

It paves way for an all time life of constant sensitivity to unholiness , though one may fall, but the brightness and whitish threads that weave around the towel would detect the stains, and effort to wash it off deployed immediately unlike other colours.

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Other colors could be seen as friends who could bear and tolerant your faults without pushing you to deal with them immediately.

Such friendship isn’t the best, indulging one and giving hope that with time it can be sorted out. For white towels a stich in time saves nine while other colours would always speak procrastination subtly. The devil and his agents can be the other colours, concealing ones faults until it becomes irreversibly shameful.

White Towel is like a friend in need which is a friend indeed. A friend who wouldn’t conceal your faults and would still not judge you. 31st October World Day for true friendship in purity, in love and in selflessness

A day true friends are celebrated, friends who are mirrors that reflect your best self and call out your flaws with love and honesty. Simply put , White Towel !

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Economic Hardship: Man Reportedly Fired From Job For Supporting President Tinubu

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A Nigerian man has reportedly lost his job over his support for President Bola Tinubu amid the current economic hardship in the nation.
In a post shared on the X platform, he revealed his suspicion that his boss was planning to terminate his employment.

Addressing his followers, he wrote:

“Dear Bola Tinubu Supporters🙏 The CEO of our company is fully Atikulated 👌 They’re trying to fire me from my job because I support Bola Tinubu. If it’s a fight they want, it’s a fight they will get. If you see this tweet, pray for Dawakiii.”

Shortly after, he posted and update, announcing that he had indeed been dismissed from his job over his support for Tinubu.

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His statement read:

“Lost my job today because I support Bola Tinubu. I’ve been with the company for over 5.5 years, and this is one of the worst things that can happen to a person.

“Got called into work today at 11:30 am for a mandatory meeting where they fired me, with no notice🙏”

Following his post, many individuals flocked to the comment section to react.

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Tinubu instructed me to give you whatever you ask for – Wike tells FCT residents

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Minister of the Federal Capital Territory Nyesom Wike has told residents of the Federal Capital Territory, FCT, that President Bola Tinubu has instructed him to give them whatever they ask for.

Wike stated this on Wednesday during the flag-off of the rehabilitation of the 10-kilometer Aguma Palace-Radio Nigeria-New Market Road in Gwagwalada Area Council.

The minister said the FCTA is committed to ensuring that governance positively impacts the FCT area councils.

Wike recalled that the stakeholders in the area council selected the road for rehabilitation during the interactive town hall between the FCT Administration and the FCT area councils.

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“I told you that Mr. President has directed that we should give it to you whatever you ask. And today, by the special grace of God, one of the special requests you made is the reconstruction of this very important segment of the road.

“This is not the time when a contract is awarded and the contract is abandoned. This contract has been awarded. This contract has been flagged off today, and this contract will be commissioned next year.

“Let me reiterate that Mr. President did not appoint the Hon. Minister of State and my humble self to come here to preside over the selling of land. We are here to give you roads, we are here to give you water, and we are here to make you happy.

“This is what we talk about government, government for the people, the government of the people, and government by the people,” he said.

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