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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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Insecurity: Ododo Briefs President Tinubu On Proactive Measures Put In Place

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Kogi Gov Ahmed Ododo and President Bola Ahmed Tinubu
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From Joseph Amedu, Lokoja

Governor Ahmed Usman Ododo of Kogi state on Monday, paid a working visit to President Bola Ahmed Tinubu, GCFR, at the State House, Abuja, briefing him on proactive measures put in place to tackle insecurity and the overall development of the state. adsbygoogle || []).push({}); googlesyndication.com/pagead/js/adsbygoogle.js">

Kogi State’s Commissioner for Information and Communications, Hon. Kingsley Femi Fanwo in a statement made available to journalists in Lokoja, indicates that Governor Ododo during the visit, highlighted the proactive measures being taken by the state government in collaboration with security agencies to safeguard lives and property.

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According to the commissioner, Governor Ododo expressed deep appreciation to President Tinubu for his consistent and unwavering support, particularly in bolstering security operations across Kogi State.

He noted that the federal backing has significantly enhanced the capacity of security forces to respond swiftly and effectively to threats.

Governor Ododo also conveyed the profound gratitude of the Government and the good people of Kogi State to the President for the landmark approval of the Ajaokuta Economic City, also known as the Kogi–Hunan Free Trade Zone.

He described the project as a historic and transformative initiative that will reposition Kogi as a major industrial and investment hub, create massive employment opportunities, and stimulate sustainable economic growth.

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In his response, President Bola Ahmed Tinubu, GCFR, commended Governor Ododo for his effective leadership and strong collaboration with federal security agencies in tackling security challenges in the state. The President assured him of the Federal Government’s continued support in both security and development efforts.

The high-level meeting also featured fruitful discussions focused on advancing infrastructural development, expanding economic opportunities, and improving the overall well-being of the people of Kogi State.

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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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Kogi State Intercept Child Trafficking

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Child Trafficking Thwarted in Kogi State
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From Joseph Amedu, Lokoja

The Kogi State Government has successful intercepted a group of underaged children trafficked into the State, in what is suspected to be a covert recruitment attempt for banditry training. adsbygoogle || []).push({});

The State’s Commissioner of Information and Communications, Kingsley Fanwo in a statement, disclosed that at about 1500hrs on December 5, 2025, eagle-eyed security operatives of the National Security and Civil Defence Corps (NSCDC) in Yagba Area Command in collaboration with other security agencies in Isanlu, acting on credible intelligence from community hunters, intercepted a truck conveying 21 children aged between 6 and 17 years into Kogi State.

According to the statement “Initial investigations revealed that the children had been moved from different northern states under suspicious circumstances by adults who could not provide legitimate justification for their movement.

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“Several suspects linked to the trafficking operation have been arrested, including individuals who claimed they were transporting the children to establish an informal “Islamic school” within Yagba East.

” Further arrests were made as security operatives intensified surveillance within the area, uncovering additional persons allegedly connected to the movement of the minors. Some of the suspects were also found with items raising significant security concerns.

“The rescued children have since been transferred to the State Command of the NSCDC in Lokoja for detailed investigation and proper profiling of all persons involved.

“His Excellency, Alhaji Ahmed Usman Ododo, Executive Governor of Kogi State, has directed the Ministry of Women Affairs and Social Development to take full custody of the underaged victims, ensure their wellbeing, and provide the necessary psychosocial support pending the conclusion of investigations.

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“Upon completion of profiling and verification, the children will be handed over to their respective State Governments for further investigation and eventual reintegration with their families. Meanwhile, all individuals found culpable in this trafficking operation will be prosecuted in line with Kogi State’s Child Trafficking and Child Rights Protection Laws.

“The Kogi State Government reiterates its uncompromising stance against child trafficking, criminal infiltration, and any form of security threat. The administration of Governor Ododo will continue to work closely with security agencies and local communities to safeguard every part of the State.

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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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President Tinubu Extols Late Prince Abubakar Audu’s Legacies

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From Joseph Amedu, Lokoja

President Bola Ahmed Tinubu has described late Prince Abubakar Audu as a “friend, ally, and trailblazer of democracy declaring that his foot-print in Kogi state as former Governor remains the best since the creation of the state. adsbygoogle || []).push({}); com/pagead/js/adsbygoogle.js">

The President gave the commendation while speaking at the 10th Memorial Anniversary and Book Presentation organised by the state government in collaboration with the immediate family in honour of the late political ICON

Tinubu who was represented by the Hon. Minister of Information and National Orientation, Alhaji Mohammed Idris, lauded late Prince Audu’s commitment to democratic ideals and the development of Kogi State.

President Tinubu noted that Prince Audu’s leadership was marked by courage, vision, and dedication to the prosperity and security of his people, calling his legacy “a living template for good governance” that continues to inspire leaders across the nation.

The event drew political leaders, statesmen, and dignitaries from across Nigeria, including the representation of President Bola Ahmed Tinubu, GCFR, to commemorate a decade since the passing of the iconic leader whose vision and leadership continue to influence the political and developmental trajectory of Kogi State.

Minister of Steel Development, Prince Shuaibu Abubakar Audu, son of the late statesman, reaffirmed his commitment to advancing his father’s legacy.

He described the memorial as a solemn reminder of the enduring influence Prince Audu holds in the hearts of the people and the continued relevance of his contributions to the growth of Kogi State.

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The Minister recalled his father’s visionary leadership, foundational reforms, and passion for public service, noting that successive administrations still draw from the structures and institutions he established.

Prince Shuaibu Audu highlighted his ongoing efforts to revitalize the Ajaokuta Steel Company and strengthen Nigeria’s steel sector as a continuation of his father’s dream for industrial and economic development in Kogi State.

He thanked all partners and stakeholders supporting these initiatives, reiterating that the collective aspiration for a stronger Kogi State and a more prosperous Nigeria is rooted in his father’s enduring vision.

The Minister also expressed profound gratitude to President Bola Ahmed Tinubu GCFR for his continuous support to the Audu family.

He also thanked the Secretary to the Government of the Federation, Sen. George Akume, CON, who attended the event. He described Senator Akume as a friend and colleague of his late father from the class of 1999 governors, acknowledging his role in supporting and honouring Prince Audu’s memory.

He further commended the Governor of Kogi State, Alhaji Ahmed Usman Ododo, and members of the State Executive Council for hosting the memorial as a state event, noting that it reflects the enduring respect Kogi State holds for Prince Audu.

He also acknowledged former Governor Yahaya Adoza Bello, CON, Capt. Idris Wada, and Rt. Hon. James Abiodun Faleke for their continued dedication to preserving his father’s legacy, describing their presence as a testament to the late leader’s far-reaching impact.

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Governor Ahmed Usman Ododo, Chief Host of the event, described Prince Audu as a visionary leader whose transformative governance continues to shape Kogi State.

In a symbolic tribute, he announced the renaming of a major township road as Prince Abubakar Audu Boulevard, directing relevant agencies to install signage, repair roads, install streetlights, and beautify the area. The Governor emphasised that these measures are part of his administration’s ongoing commitment to uphold Prince Audu’s ideals of unity, progress, and service to the people.

In his remarks, the Secretary to the Government of the Federation, Sen. George Akume CON said that the late Prince Abubakar Audu was marked as an icon of development and great vision, noting his contribution to the development of Benue State in the time he served in Benue State.

He described him as a man who was genuinely loved by his people as one of the first Nigerians that won in a free, fair and credible elections.

The immediate past governor of Kogi State, Yahaya Adoza Bello urged everyone to reflect on the life and times of the late former governor who was a revolutionary and served with all sincerity, who while in office took bold steps that have continued to impact positively of the people of Kogi State and Nigeria even long after his demise.

The memorial also featured the inauguration of the Board of Trustees of the Prince Abubakar Audu Leadership Foundation, alongside a lecture and book review of “Prince Abubakar Audu: A Legacy of Visionary Leadership”, reviewed by former Minister of Justice and Attorney General of the Federation, Prince Adetokunbo Kayode, SAN.

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Other dignitaries present included former Governors Capt. Idris Wada and Yahaya Adoza Bello, Rt. Hon. James Faleke, and numerous political and community leaders who paid tribute to the late statesman.

The 10th memorial celebration served as both a solemn remembrance and a reaffirmation of the enduring impact of Prince Abubakar Audu’s leadership, inspiring current and future generations to continue the work of unity, progress, and transformative governance in Kogi State.

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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