News
CPPE Tells FCCPC Stop Intimidation of Traders
▪︎Dr Muda Yusuf, the CEO of CPPE
The Centre for the Promotion of Private Enterprises (CPPE) has charged at the Federal Competition and Consumer Protection Commission [FCCPC], to refrain from further intimidation of the operators in the retail sector of the economy most of whom are micro and small businesses, with many in the informal sector.
Dr Muda Yusuf, the CEO of CPPE, made the call, while reacting to the last week’s threat by the FCCPC to traverse markets across the country with objective of forcing traders, supermarkets owners, market men and women to reduce the prices of essential food items.
Dr Yusuf, told journalists in Lagos, at the weekend : ” The FCCPC appears to be unwittingly transforming into a price control agency rather than a consumer protection commission.
The disproportionate focus of the commission on the retail segment of the economy and pricing issues underscores this assertion.
The core mandate of the commission is the creation of a robust competition framework across sectors and protection of consumer rights and interests.
Consumer protection is not about directly seeking to control price at the retail end of the supply chain.
This is why the CPPE is concerned about the approach, methodology, targeting and the recent threats by the FCCPC to market leaders, traders and supermarket owners.”
The commission seem to be fighting the symptoms rather than dealing with the causes of the current inflationary pressure in the economy.
Even then, the core mandate of the commission is not to fight inflation.
The fiscal and monetary authorities are statutorily responsible for macroeconomic policy issues and are better placed to deal with the challenge of high prices,” he said.
He urges the FCCPC, to have a proper comprehension of the dynamics of pricing and the key drivers of inflation.
” These factors include the naira exchange rate depreciation, high energy cost, high cost of logistics, seasonality of food production, high cost of funds, extortions on the highways, high post-harvest losses, high cargo clearing cost, impact of the insecurity on food production, climate change and global factors disrupting supply chains.
” Our view is that the proposal by the FCCPC is unlikely to yield concrete outcomes. This is not a sustainable strategy.
What we need to fix are the fundamentals driving production, operating and distribution costs which resulted in spiraling inflation in the first place.
The dynamics of pricing and prices in an economy are much more complex and fundamental and do not seem aligned with the comprehension of the FCCPC on the issue. The variables are numerous, multidimensional and dynamic.
It is difficult to make pronouncements on issues profiteering in such circumstances without a rigorous analysis based on data.”
News
Public holidays: FG declares December 25, 26, and January 1
The Minister of Interior, Dr Olubunmi Tunji-Ojo, announced the public holidays on behalf of the Federal Government.
The Federal Government has declared Thursday, December 25, and Friday, December 26, as well as Thursday, January 1, 2026, as public holidays to mark the Christmas, Boxing Day, and New Year celebrations.
The Minister of Interior, Dr Olubunmi Tunji-Ojo, announced the public holidays on behalf of the Federal Government.
In a statement by the Permanent Secretary in the Federal Ministry of Interior, Dr Magdalene Ajani, the minister extended warm Christmas and New Year felicitations to Christians in Nigeria and across the world.
He extended the same gestures “to all Nigerians as they celebrate the end of the year and the beginning of a new one”.
Tunji-Ojo urged Christians to reflect on the virtues of love, peace, humility, and sacrifice as exemplified by the birth of Jesus Christ, noting that these values are critical to promoting unity, tolerance, and harmony in the nation.
News
KWAM1 loses bid to block Awujale selection process
KWAM1 had declared his interest in the vacant Awujale stool, claiming lineage from the Jadiara Royal House of the wider Fusengbuwa Ruling House.
• KWAM1
The Ogun State High Court sitting in Ijebu-Ode has refused to grant popular Fuji musician Wasiu Ayinde, alias KWAM1, an interim injunction aimed at restraining Governor Dapo Abiodun and five others from proceeding with the selection and installation of the next Awujale of Ijebuland.
Ayinde, represented in court by Wahab Shittu (SAN), had on Monday, sought the injunction pending the hearing of his substantive suit challenging the selection process.
But Justice A. A. Omoniyi dismissed the application, holding that the interim injunction lacked merit and that there were no strong grounds to justify its grant.
He subsequently ordered the expedited hearing of the substantive matter, fixing 14 January 2026 for proceedings.
KWAM1 had declared his interest in the vacant Awujale stool, claiming lineage from the Jadiara Royal House of the wider Fusengbuwa Ruling House.
However, the Fusengbuwa ruling house rejected his claim, stating that he is not from the royal house.
To challenge what he perceived as injustice, Ayinde filed a suit against the Fusengbuwa ruling house, Governor Abiodun, the Chairman of Ijebu-Ode Local Government, Dare Alebiosu, and three others
News
November Petrol supply rises 55% to 71.5m litres daily
The report revealed that the domestic refineries supply in the period stood at 17.1 million litres per day, while the average daily consumption of PMS for the month was 52.9 million litres per day.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) November Fact -Sheets indicated that the supply of Premium Motor Spirit (PMS), also known as petrol, increased to 71.5 million litres per day in November 2025 from 46 million litres per day in October. This was an increase of 55 per cent.
In the report released yesterday, the agency said that the nation’s consumption also increased by 44.5 per cent to 52.1 million litres per day in November 2025, compared to the 28.9 million litres in October,. an excess of 37.4 million litres.
It said that the volume supplied came from both the domestic and the international market.
NMDPRA noted that the imports were aimed at building inventory and further guaranteeing supply during the peak demand period.
Other reasons for the increase, according to the NMDPRA, were due to “low supply recorded in September and October 2025, below the national demand threshold; the need for boosting national stock level to meet the peak demand period of end of year festivities and twelve vessels programmed to discharge into October which spilled into November.
The report revealed that the domestic refineries supply in the period stood at 17.1 million litres per day, while the average daily consumption of PMS for the month was 52.9 million litres per day.
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