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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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Uzodimma to Editors: You should be held accountable for what happens to Nigeria

“The narratives you shape between now and the election will determine whether Nigerians approach 2027 with hope or cynicism, with trust or suspicion, with a sense of shared stake or through a tribal lens.”

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Senator Hope Uzodimma, the Governor of Imo State, says the Nigerian media industry should be held accountable for what’s happening in the country and to its citizens, both positively and negatively.

“Your reports and comments paint a picture of tomorrow. Therefore, the picture you paint of 2027 is what Nigerians should expect,” said Uzodimma.

In a keynote address , he delivered today during the 21st edition of the All Nigerian Editors Conference in Abuja.

Uzodimma, critique the  theme, ‘Democratic Governance and National Cohesion: The Role of Editors,’ and a sub-theme: ‘Electoral Integrity and Trust Deficit: What Nigerians Expect in 2027,’ said : I will not let you escape accountability for electoral integrity, trust deficit, and what Nigerians expect in 2027.

Here is why.  If you have a role to play in “Democratic Governance and National Cohesion,’ then you also have a role to play in ‘Electoral Integrity and Trust Deficit.’  

Without electoral integrity, there can be no democracy. Electoral integrity begets democracy, and democracy begets good governance, and good governance fast-tracks the exorcism of trust deficit.

In all of these, your role as facilitator, amplifier, or catalyst is key.

“Your reports and comments paint a picture of tomorrow. Therefore, the picture you paint of 2027 is what Nigerians should expect.”

He emphasised that what editors actually do is akin to a pastoral duty.

“You decide what becomes urgent and what disappears.

You choose the lens through which millions of Nigerians see their country, their leaders, and each other.

“That is how the media is structured. A policy shift is either “Government U-Turn” or “Strategic Adaptation.”

A land border closure is either “Economic Protectionism Impoverishing the People” or “National Security Imperative.” Same facts, different frames. Entirely different public perception.,” he said.

He added: ” You are not spectators in 2027. You are active participants. You are catalysts and facilitators, whether r you acknowledge it or not.

The narratives you shape between now and the election will determine whether Nigerians approach 2027 with hope or cynicism, with trust or suspicion, with a sense of shared stake or through a tribal lens.”

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Editors demand 10-year corporate tax relief for the media industry

The President of the NGE, Mr Eze Anaba, who made the call on behalf of the media organisations, lamented that the present economic realities in the country have put the media in distress.

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•President of the NGE, Mr Eze Anaba

The Nigeria Guild of Editors (NGE) is requesting for 10-year corporate tax relief from the federal government.

The guild presented their demand on Wednesday during the opening ceremony of the All Nigeria Editors Conference (ANEC) with the theme “Democracy, Governance and National Cohesion: The Role of Editors”, held at the State House Conference Hall, Abuja.

The President of the NGE, Mr Eze Anaba, who made the call on behalf of the media organisations, lamented that the present economic realities in the country have put the media in distress.

He emphasized that the economic situation in the country has forced some media houses to shut down, while some that struggle to operate cannot pay workers’ salaries.

The NGE boss also called for tax exemption, the establishment of low-interest loans for the media, and a digital transformation and innovation fund.

Anaba further proposed a Media Freedom and Safety Charter to protect journalists from a hostile environment.

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Ethiopia wins bid to host 2027 COP32 climate summit

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•Ethiopian Prime Minister Abiy Ahmed

Ethiopia has been selected to host the 32nd United Nations Climate Change Conference (COP32) in 2027.

Richard Muyingi, chair of the African Group of Negotiators (AGN), disclosed that Ethiopia’s bid was endorsed last week after the country resubmitted its expression of interest , beating Nigeria in a closely contested bid.

“The matter was discussed by the African group in a meeting last week, and Ethiopia was confirmed as the host of COP32,” Muyingi said.

The hosting of COPs rotates among global regions, with Africa due to host the summit in 2027.

The host country for COP31 is yet to be decided between Turkey and Australia.

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