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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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Kogi State Mourns Loss of Media Icon Prof. Tom Adaba

Prof. Adaba, who passed away at the age of 83, was celebrated for his trailblazing contributions to Nigeria’s media landscape.

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The Kogi State Government has expressed a huge sense of loss following the demise of Prof. Tom Adaba, a pioneering broadcast expert, patriot, and distinguished son of Kogi.

Prof. Adaba, who passed away at the age of 83, was celebrated for his trailblazing contributions to Nigeria’s media landscape.

Prof. Adaba’s legacy is marked by groundbreaking achievements.

He was one of the first Nigerians to earn a Doctorate in Mass Communication, setting a high standard for academic excellence in the field.

His visionary leadership was evident during his tenure as the Principal of the Nigerian Television College, Jos, and as the inaugural Director General of the National Broadcasting Commission.

His work not only transformed the media industry but also laid a strong foundation for ethical journalism and responsible broadcasting across the nation.

In an official condolence message signed by the State Information Commissioner, Mr Kingsley Fanwo, the Kogi State Government described Prof. Adaba as “a media colossus, patriot, and a distinguished Nigerian” whose wisdom and dedication left an indelible mark on the country.

The government extended heartfelt condolences to his family, friends, and the entire media community, urging that his legacy be remembered as a beacon of inspiration.

The statement reads: “We have lost a great media pioneer whose life-long contributions to Nigeria’s broadcasting industry will forever be cherished. May the Almighty God grant him eternal rest and give his loved ones the strength to bear this irreparable loss.”

Prof. Adaba’s passing is not only a significant loss to Kogi State but also to Nigeria as a whole.

His illustrious career and unwavering patriotism will continue to inspire future generations in the realms of media and beyond.

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BREAKING: Police Have Sealed Our Hqrs – Osun Electoral Commission Boss Raises Alarm

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The Chairman of the Osun State Independent Electoral Commission (OSSIEC), Hashim Abioye, has raised alarm over the sealing of the commission’s headquarters by the police.

The incident on Saturday occurred as the commission proceeded with the controversial local government elections taking place across the state.

Speaking during a live current affairs program on Rave FM, Abioye said he is surprised that such a step could be taken.

He said, “I leave the police IGP in the hands of God.

“Election has started earnestly in all the polling units across the state but no police presence is noticeable from the information available to me.”

Meanwhile, Governor Ademola Adeleke participated in the exercise, casting his vote at a polling station in Ede.

After voting, the governor called on residents to remain calm and peaceful throughout the exercise.

The sealing of the OSSIEC headquarters comes after the Nigeria Police had earlier advised the Osun State Government not to proceed with the election.

Citing security risks and potential legal implications, the police had warned that holding the poll under the current circumstances could lead to unrest.

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Osun election underway despite AGF’s advice, Governor Adeleke votes in polling unit

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Governor Ademola Adeleke of Osun State has cast his ballots at Unit 9, Ward 2, in Ede North Local Government Area as the contentious poll begins across the state.

The governor cast his vote as early as 8 a.m. on Saturday morning amid tension over possible unrest.

The election is currently being held as scheduled despite advice from the Attorney General of the Federation, Lateef Fagbemi.

The Nigeria Police Force had also called for the suspension of the exercise, stating that unrest was likely to unfold following disagreements between political parties.

The Labour Party had also announced its decision to back out of the exercise, saying the security of its agents was not guaranteed.

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