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CPPE Tells FCCPC Stop Intimidation of Traders

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▪︎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.”

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UNN Mourns 4 Students Dead After Party

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The management of the University of Nigeria, Nsukka (UNN), has declared a three-day period of mourning following the tragic deaths of four students at an off-campus house party in Nsukka.

Vice-Chancellor Prof. Simon Ortuanya addressed the media on the incident, which occurred on 11 November 2026. He clarified that ten UNN students attended the party, organised to celebrate a friend who had completed his final-year examinations. Four of them died after consuming substances suspected to be alcohol and drugs. The remaining six are currently receiving treatment and recovering in hospital at various stages.

Prof. Ortuanya announced the three-day mourning period, during which all social and academic activities on campus will be suspended. He also cancelled a previously scheduled town-hall meeting between the university community and the Governor of Enugu State.

Describing the loss as “a death too many,” the Vice-Chancellor extended heartfelt condolences to the families, friends and colleagues of the deceased. “The Management, staff and the students of the University of Nigeria share in their grief at this difficult moment and pray for the repose of the souls of the departed,” he said.

He further clarified that the students involved came from different departments, contrary to widespread speculation that they were from the Faculty of Pharmaceutical Sciences.

Prof. Ortuanya reiterated the university’s ban on all forms of sign-out celebrations and urged students to refrain from activities that endanger their lives. He added that the university is cooperating fully with security agencies to determine the exact cause of the deaths.

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Seven UNN Pharmacy Graduates Die After Private Sign-Out Ceremony (Photos)

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Seven recent graduates of the Department of Pharmacy at the University of Nigeria, Nsukka (UNN) have been reported dead under controversial circumstances after a private signing-out ceremony held following their graduation on Wednesday.

The incident is said to have occurred at the Hilltop off-campus area of the university in Nsukka.

The Vice Chancellor of the University, Professor Simon Ortuanya, the university spokesperson, and the Enugu State Police Public Relations Officer, Daniel Ndukwe, had yet to respond to messages as of the time of this report.

Two lecturers at the university, who declined to appear on camera or be named, confirmed the deaths, but stated that the cause of death had not yet been ascertained.

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Panic as Fully Loaded CNG Passenger Bus Explodes in Lagos

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A fully loaded Compressed Natural Gas (CNG)-powered commercial bus exploded and burst into flames along the Lagos-Ibadan Expressway on Wednesday, triggering panic among passengers and motorists.

The incident occurred at Berger Bus Stop on the Lagos-bound section of the expressway. The Toyota Hiace bus, registration number EKY 798 YK, was carrying 18 occupants, including the driver, from the Mowe-Ibafo axis toward Lagos when it suddenly erupted into flames following a reported gas explosion.

Seventeen people, including the driver, were safely evacuated by personnel of the Lagos State Traffic Management Authority (LASTMA). One male passenger seated at the rear of the vehicle sustained severe burn injuries and was rushed to the Lagos State Trauma and Emergency Centre at Toll Gate for treatment.

Officers of the Lagos State Fire and Rescue Service quickly extinguished the blaze, while police from the Ojodu Division secured the scene and maintained order.

LASTMA General Manager Olalekan Bakare-Oki praised the swift response by emergency teams that prevented further casualties. He urged operators of CNG-powered commercial vehicles to prioritise regular professional inspections and proper maintenance of gas storage and delivery systems to avoid similar incidents.

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