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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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June 12: Ajia Congratulates Tinubu, AbdulRazaq, Calls for Youth Inclusion and Grassroots Development

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By AbdulRahman Obaje

The chieftain of the APC in Kwara state , Alhaji Ibrahim Mohammed Ajia, Ph.D, has congratulated President Bola Ahmed Tinubu, GCFR, and the Governor of Kwara State, Mallam AbdulRahman AbdulRazaq, CON, on the occasion of Democracy Day 2026 Celebration and the third years anniversary of their administrations. js">

This is contained in a statement he personally signed and made available to journalists on Friday in Abuja, Ajia described June 12 as a historic symbol of Nigeria’s democratic struggle, resilience, and collective aspiration for good governance.

Ajia commended President Tinubu for demonstrating courage in implementing reforms aimed at repositioning the nation’s economy, improving infrastructure, attracting investments, and strengthening key institutions of government. He noted that the administration has laid important foundations for long-term national development.

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While acknowledging these efforts, he urged the President to pay greater attention to the pressing challenges confronting ordinary Nigerians. According to him, the hopes and aspirations of citizens remain the strongest mandate of any democratic government.

The Ilorin-born security expert further called for intensified efforts to secure lives and property across the country and encouraged the President to deepen youth inclusion in governance by appointing more competent young Nigerians into strategic decision-making positions. He noted that Nigeria’s youthful population represents a vital resource for innovation, nation-building, and sustainable development.

Ajia also advocated the continuation of inclusive economic policies capable of empowering local contractors, entrepreneurs, small businesses, and investors, while ensuring that the benefits of governance are felt more directly at the grassroots.

The philanthropist and business leader equally congratulated Governor AbdulRahman AbdulRazaq on the achievements recorded in Kwara State, particularly in the areas of infrastructure, education, healthcare, youth empowerment, social investments, and public sector reforms.

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He, however, urged the governor to devote greater attention to ward-level and community-based development projects that would create employment opportunities and empower indigenous contractors, local businessmen, women, farmers, and young entrepreneurs across the state.

Ajia further advised Governor AbdulRazaq to strengthen inclusive politics and governance by expanding consultation, participation, and representation within the ruling All Progressives Congress (APC) and across the broader political landscape.

He stressed the need for reconciliation among aggrieved party members and stakeholders to consolidate unity and ensure the party’s continued electoral success in Kwara State.

According to him, June 12 reminds Nigerians that democracy thrives when leaders listen, citizens actively participate, and governance reaches every community, including the most remote wards.

He reaffirmed his support for both the Federal and the Kwara State Governments and expressed optimism that Nigeria would continue to advance under responsive, inclusive, and people-oriented leadership.

Ajia wished President Tinubu, Governor AbdulRazaq, and all Nigerians a peaceful and memorable Democracy Day celebration, praying for greater unity, security, progress, and prosperity for the nation.

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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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Dr. Ajia Congratulates Sheikh Bashir Dasuki, Praises Emir of Ilorin for Unifying Decision

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AbdulRahman Obaje

The Dan Amanan Fune Emirate of Yobe State Alh Ibrahim Mohammed Ajia, Ph.D has appreciated the Emir of Ilorin, Alhaji (Dr.) Ibrahim Sulu-Gambari, CFR, for what he described as a wise, and excellent decision in appointing Sheikh Muhammad Bashir Dasuki Imam Fulani as the new Chief Imam of Ilorin Emirate. js">

n a congratulatory message signed by his Director of Communications and Strategy, Mallam Abdulrahman Aliagan, and made available to journalists in Abuja, Dr. Ajia said the Emir’s choice reflects his deep understanding of the religious, cultural, and spiritual aspirations of the Ilorin people.

He noted that the appointment has been widely welcomed across the Emirate, earning the acceptance and admiration of both the elderly and the youth, while resonating with the collective conscience of the entire community.

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According to Dr. Ajia, the emergence of Sheikh Muhammad Bashir Dasuki through a transparent and rigorous selection process demonstrates the Emir’s commitment to merit, integrity, and the preservation of the rich Islamic heritage of Ilorin. He added that the appointment has further strengthened public confidence in the Emir’s leadership and his dedication to promoting unity, peace, and religious harmony within the Emirate.

Dr Ajia, while congratulating the new Chief Imam on his well-deserved elevation, he described Sheikh Muhammad Bashir Dasuki as an accomplished Islamic scholar, teacher, and community leader whose academic credentials, spiritual discipline, and years of service to Islam have prepared him adequately for the revered position.

He expressed confidence that the new Chief Imam would provide exemplary leadership and continue to advance Islamic scholarship and moral guidance among the faithful.

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“On behalf of my family, associates, and well-wishers, I congratulate Sheikh Muhammad Bashir Dasuki Imam Fulani on this historic appointment and commend His Royal Highness, the Emir of Ilorin, for making a decision that has united the people and inspired widespread confidence across the Emirate. This appointment is a testament to the enduring values of scholarship, piety, humility, and service that have long defined the Ilorin tradition,” Dr. Ajia stated.

The Ilorin-born security expert and business tycoon prayed Allah to grant the new Chief Imam wisdom, sound health, patience, and divine guidance throughout his tenure.

He also prayed for the continued peace, stability, and prosperity of the Ilorin Emirate under the leadership of the Emir, urging the Muslim faithful to support the new Chief Imam with prayers and cooperation as he assumes the important responsibility of providing spiritual leadership to the Muslim Ummah.

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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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US-Based Philanthropist, Chief Rekiya Isa Bags Management Leadership Award

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US-Based Philanthropist, Chief Rekiya Isa Bags Management Leadership Awar

From Joseph Amedu, Lokoja

Advocacy For Youth Leadership in Governance, Nigeria (AYLGN) has conferred the Proficiency Management Leadership Global Award on Chief Sabua Rekiya Isa, CEO and Founder of Sabua Cares Foundation. adsbygoogle || []).push({});

Chief Sabua Rekiya Isa who also holds the Traditional title of “Ebule Attah Igala” USA, was recognized as the “Most Outstanding, Competent, Quintessential, Resourceful, Experienced, Renowned & Digital Philanthropist in the 21st Century.”

The award was received on her behalf by the National Coordinator of Sabua Cares Foundation, Comrade Usman Bashiru, who led some Executive members of the Foundation to the event.

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Comrade Bashiru in his speech, thanked AYLGN for honouring the founder’s modest humanitarian efforts, noting that Chief Isa has been funding all her philanthropic activities alone.

He appealed to organizations and well-meaning individuals to partner with the Foundation to scale impact on the poor and downtrodden, adding that the Foundation is open to collaborations that will touch lives positively.

Chief Sabua Rekiya Isa who joined the event via Zoom from New York, expressed gratitude to AYLGN for the honour and dedicated the award to God, widows, downtrodden women, and youths.

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Presenting the award, AYLGN National Coordinator, Comrade Ajinomoh Abiodun, Mnin, said the nomination followed a joint resolution of the organization’s Board and Executive Council after a critical assessment of Chief Isa’s career, public service, and humanitarian work.

In a letter dated 2nd June, 2026, signed by Comrade Ajinomoh and Secretary General Comrade Ajayi Nike Grace, AYLGN described Chief Isa as a “trans-generational philanthropist of international standard” with “global recognition on youth development,” citing her integrity, charisma, and result-oriented leadership.
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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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