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
Jonathan visits Tinubu in Aso Rock
Jonathan’s latest visit comes months after his last known appearance at the State House in November 2025, shortly after his evacuation from Guinea-Bissau amid a political crisis.
PRESIDENT Bola Tinubu on Wednesday received former President Goodluck Jonathan at the Presidential Villa, Abuja, in what officials described as part of ongoing high-level consultations on regional and continental issues.
The meeting, which was held behind closed doors at the State House, began at about 4 pm.
Sources familiar with the engagement indicated that the interaction aligns with a pattern of periodic consultations between both leaders, particularly on political developments in West Africa and Nigeria’s broader diplomatic and continental engagements..
Images from the meeting showed both leaders in a relaxed setting, engaged in conversation inside the President’s office.
Jonathan’s latest visit comes months after his last known appearance at the State House in November 2025, shortly after his evacuation from Guinea-Bissau amid a political crisis.
The former president had been leading a West African Elders Forum election observation mission when soldiers loyal to Brigadier-General Dinis Incanha reportedly staged a coup, detaining incumbent President Umaro Sissoco Embaló ahead of the official announcement of the November 23 presidential election results.
News
Nigeria’s Ambassador to Algeria, Mohammed Lele, dies at 50
Born in Gamawa, Bauchi State, in 1976, Lele studied Economics at Bayero University Kano. During his diplomatic career, he served in Nigeria’s missions in Berlin, Lomé and Riyadh.
Nigeria’s ambassador-designate to Algeria, Mohammed Mahmud Lele, has died at the age of 50.
Lele was buried in Kano on Wednesday in accordance with Islamic rites.
His death was confirmed on Wednesday by the Ministry of Foreign Affairs in a statement issued in Abuja by its spokesperson, Kimiebi Ebienfa.
According to the ministry, Lele died in the early hours of April 19, 2026, in Ankara, Türkiye, following a prolonged illness.
The ministry described his death as a significant loss, noting that he was a seasoned diplomat who served Nigeria with dedication and professionalism.
Before his nomination as ambassador-designate to Algeria, Lele was the Director in charge of the Middle East and Gulf Division at the ministry.
Born in Gamawa, Bauchi State, in 1976, Lele studied Economics at Bayero University Kano. During his diplomatic career, he served in Nigeria’s missions in Berlin, Lomé and Riyadh.
The Permanent Secretary of the ministry, Dunoma Umar Ahmed, who received his remains at the Nnamdi Azikiwe International Airport, described him as a diligent and humble officer whose contributions would not be forgotten.
News
Adelabu Submits Resignation Letter to SGF, Recommends Creation of Coordinating Minister for Energy
In a resignation letter dated April 22, 2026, and addressed to President Bola Ahmed Tinubu, Adelabu stated that his resignation will take effect on April 30, 2026, to enable him to focus on his governorship ambition in Oyo State.
Photo: Chief Bayo Adelabu, and SGF George Akume
The Minister of Power, Chief Adebayo Adelabu, has formally tendered his resignation and proposed the establishment of a Coordinating Minister for Energy to drive integrated reforms across Nigeria’s power, gas, and related sectors.
In a resignation letter dated April 22, 2026, and addressed to President Bola Ahmed Tinubu, Adelabu stated that his resignation will take effect on April 30, 2026, to enable him to focus on his governorship ambition in Oyo State.
He, however, emphasised that sustaining and consolidating the gains recorded in the power sector requires stronger coordination at the highest level, including the appointment of a central authority to harmonise policy direction and execution.
Confirming the development, the Special Adviser to the Minister on Strategic Communications and Media Relations, Bolaji Tunji, said the Minister expressed deep appreciation to the President for the opportunity to serve, describing his tenure as a privilege to contribute to national development.
Adelabu noted that his decision aligns with the provisions of the Amended Electoral Act 2026, which precludes serving political office holders from contesting elections.
He further disclosed that his gubernatorial aspiration dates back to 2016 during his tenure as Deputy Governor of the Central Bank of Nigeria.
In his three-page letter, the Minister outlined key achievements recorded during his tenure, including the implementation of the Electricity Act 2023, which decentralised the electricity market and improved the investment climate.
He highlighted that peak power generation rose to over 6,000 megawatts, driven by the integration of the Zungeru Hydropower Plant and the rehabilitation of thermal power plants. Transmission capacity was also strengthened through grid upgrades under the Presidential Power Initiative.
He further cited notable improvements in the distribution segment, including enhanced regulatory oversight, improved revenue collection, and progress in reducing Aggregate Technical, Commercial and Collection (ATC&C) losses.
Efforts to close the metering gap, he added, gained momentum through the Presidential Metering Initiative and the World Bank-supported Distribution Sector Recovery Programme (DISREP).
On the financial front, Adelabu stated that tariff reforms and a ₦4 trillion debt restructuring programme increased market revenues from ₦1 trillion in 2023 to ₦2.3 trillion in 2025, restoring investor confidence and placing the sector on a path to sustainability.
Despite these gains, the Minister acknowledged persistent challenges, including gas supply constraints, infrastructure vandalism, and the need for full commercialisation of the electricity value chain.
He therefore proposed key measures to sustain progress, including the implementation of cost-reflective tariffs with targeted subsidies, recapitalisation of distribution companies, accelerated nationwide metering, sustained transmission investments, and strengthened regulatory enforcement.
Central to his recommendations is the creation of a Coordinating Minister for Energy to provide strategic oversight and ensure synergy across power, gas, water resources, and environmental sectors.
According to him, this approach is critical to improving gas supply for thermal generation, optimising hydroelectric resources, and accelerating renewable energy deployment.
Tunji added that Adelabu remains committed to ensuring a smooth and seamless handover process, while expressing gratitude to the President for the confidence and support extended to him throughout his tenure.
-
News3 days agoKaduna High Court Denies El-Rufai Bail
-
News3 days agoEdun, Dangiwa quit Tinubu’s cabinet * Oyedele becomes Finance Minister
-
News2 days agoLASG Fixes Last Saturdays Monthly Environmental Sanitation 6:30 am – 8:30 am
-
Crime2 days agoAngwa-Rukuba killings: Plateau Government Files Charges Against Five Suspects Arrested By DSS
-
News2 days agoJUST IN: Alleged Coup Plotters Set for Arraignment at Noon Wednesday
-
Health3 days agoCross River reports case of COVID-19
-
News3 days agoArise News anchor Somtochukwu Maduagwu: Witness Discloses How Police Rounded Up Assailants
-
News2 days agoKano: Gov Yusuf Nominates Murtala Garo as Deputy Governor
