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FCCPC backs down on price control

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Nigeria food market

FCCPC backs down on price control

Against the backdrop of the controversies generated by its threat to intervene in the markets over rising prices of commodities, the Federal Competition and Consumer Protection Commission, FCCPC, has said it will not regulate market prices.

This is contrary to a statement attributed to the FCCPC Executive Vice Chairman, Mr. Tunji Bello, last week, which gave a month’s notice to traders and other market stakeholders involved in what he called ”exploitative pricing”, threatening to crash their prices or face action from the Commission.

However, the FCCPC insisted it would enforce laws against practices that undermine fair competition, adding that it would protect Nigerian consumers by tackling price fixing and other exploitative practices in markets across the country.

The Commission, in a statement issued by Ondaje Ijagwu, Director, Special Duties (& Strategic Communication) in Abuja, yesterday said, “While promoting competition is essential for economic health, as evidenced in sectors like telecommunications, it is equally important to enforce laws against practices that undermine fair competition.

“The FCCPC remains committed to a balanced approach that respects the dynamics of a free market while ensuring that consumers are protected from harmful practices.

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“We encourage all businesses to engage in ethical and lawful practices that contribute to a fair and competitive marketplace. The FCCPC does not seek to suppress private enterprise; our role is to ensure that the market operates on principles of fairness, transparency, and accountability. When businesses, as illustrated by the cement sector case, engage in practices that harm consumers, the FCCPC will take decisive action.”

The FCCPC pledged to work collaboratively with all stakeholders; businesses, consumer groups, and other government agencies, to address both the immediate and remote causes of exploitative pricing, adding, “Our approach combines enforcement with cooperation, aiming to protect consumers and maintain a healthy competitive environment.”

According to the organisation, it has given a one-month moratorium before enforcement begins, providing businesses with the necessary time to adjust their practices and ensure full compliance with laws aimed at protecting consumers and fostering fair competition.

It added “The FCCPC stands firm in its commitment to enforcing the Federal Competition and Consumer Protection Act (FCCPA) 2018. We will continue to monitor the marketplace and take action against any business practices that violate the law.”

“Consumers and businesses alike can trust that we will remain vigilant in upholding the principles of fair competition and consumer protection.”

The commission asserted that prices in a competitive marketplace are determined solely by the forces of supply and demand, adding, that it did not, therefore, contemplate price control, having considered it outside the scope of its responsibilities.

“We have never considered, nor will we ever consider, intervening in the market to regulate prices. Any claims to the contrary are baseless. Our recent directives are not about controlling prices but are focused on curbing exploitative practices and anti-competitive behaviours that distort the marketplace and harm consumers.”

FCCPC backs down on price control

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“Not as Corrupt as the World Thinks”: Reno Omokri Defends Nigeria’s Image and Safety

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Citing economic growth and safe public festivals, Reno Omokri urges the nation to tell its own story rather than rely on external perception indexes.

Nigeria is not nearly as corrupt or unsafe as foreign reports claim, according to Reno Omokri, Nigeria’s Ambassador-designate to Mexico. In a television interview on Channels Television, Omokri explained that international assessment groups often misunderstand Nigerian customs because they apply global benchmarks that ignore local traditions.

A central issue, Omokri noted, is how different cultures view appreciation. In Nigerian society, offering a gift to say thank you to an official who provides excellent service is a familiar sign of respect, much like tipping in other parts of the world.

However, international observers often label this practice as corruption. Omokri stated that the country needs to share its own experiences directly with the world rather than allowing outside groups to set a negative narrative.

Omokri also defended the country’s safety record by pointing to Lagos, where the economy has expanded steadily and major cultural events draw massive crowds.

He highlighted the annual holiday season in Lagos, which brings more than one million visitors together peacefully each year. For Omokri, these vibrant events show that everyday life in Nigeria is full of energy, community warmth, and safety.

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‘Jobs Must Not Be Based on Connections’ — Oyintiloye Tells FCC

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Calls for greater transparency in the distribution of federal employment opportunities have intensified, with APC chieftain Olatunbosun Oyintiloye urging the Federal Character Commission to ensure that recruitment is not influenced by powerful individuals.

Oyintiloye, speaking in Osogbo, Osun State, appealed to the commission’s Executive Chairman, Ayo Hulayat Omidiran, to stand firm against intimidation or pressure while carrying out her responsibilities.

According to him, the credibility of federal recruitment depends on giving qualified Nigerians a fair chance, regardless of their background or connections.

He said the FCC should strengthen its oversight of recruitment processes and prevent situations where applicants are disadvantaged through manipulation or other improper practices.

The FCC must adopt a renewed commitment to building a commission where merit, fairness and the principles of federal character guide the management of employment opportunities across the public service” Oyintiloye said.

His appeal comes shortly after Omidiran publicly reiterated that federal government jobs were not for sale and that employment opportunities should be available to Nigerians regardless of social status.

Oyintiloye said the position of the FCC was particularly important because of its constitutional responsibility to promote equitable representation in federal institutions.

He also praised the commission for addressing concerns over fairness in recruitment and allegations of corrupt practices, saying greater openness could help rebuild public confidence.

The APC chieftain further urged the commission to ensure that recruitment opportunities are communicated clearly and that qualified applicants from all parts of the country are given an equitable chance.

He expressed confidence that reforms under Omidiran could strengthen the FCC’s credibility, while encouraging job seekers to rely on legitimate recruitment announcements rather than individuals claiming to have connections within the commission.

The FCC itself has warned Nigerians about people offering supposed shortcuts into federal employment, stressing that it does not sell jobs or select candidates for federal appointments.

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Nwifuru Dismisses Cubana Chief Priest as ‘Attention-Seeker’

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Ebonyi State Governor Francis Nwifuru has hit back at socialite and businessman Paschal Okechukwu, better known as Cubana Chief Priest, after the latter criticised his administration.

The governor dismissed the businessman’s comments while speaking at an event in Abakaliki, saying he had no interest in engaging with him.

I don’t have time for Cubana Chief Priest. He’s a mere attention-seeker and an individual of no consequence” Nwifuru said.

He added, “However, if I remember him, I feel sorry for him.”

The exchange followed comments by Cubana Chief Priest questioning the governor’s performance in office. He reportedly challenged Nwifuru to explain how an administration could spend about three years in office without having major projects commissioned by the President or other state governors.

The remarks had earlier attracted criticism from Chinedu Ogah, the member representing Ikwo/Ezza South Federal Constituency in the House of Representatives.

Ogah condemned Cubana Chief Priest’s comments, defending the governor’s administration.

Nwifuru’s response now adds another layer to the controversy, although the governor did not provide a detailed response to the specific claims made about projects commissioned under his administration.

The disagreement has consequently shifted attention to the broader question of the Ebonyi government’s record on infrastructure and development projects since Nwifuru assumed office.

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