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Why PH, Other Cities Experience High Cost Of Food -FCCPC
The Federal Competition and Consumer Protection Commission (FCCPC) has blamed the distribution sector, including wholesalers and retailers, for the spike in the prices of foodstuffs and other commodities in Port Harcourt, and some other cities in the country.
The South-South Zonal Coordinator of FCCPC, Uchegbu Chukwuma, disclosed this shortly after taking newsmen on a survey of the popular Oil Mill Market in Port Harcourt.
Chukwuma said that the commission’s position followed market inquiries in some states within the zone, saying that its surveillance efforts suggest participants in the food chain and distribution sector such as wholesalers and retailers are allegedly engaged in conspiracy, price gouging, hoarding, and other unfair practices to restrict competition in the market.
He further said such illicit acts restrict the supply of food and manipulate and indiscriminately inflate the price of food, pointing out that such practices, which he termed “obnoxious, unscrupulous, and exploitative,” are illegal under the FCCPA.
The Commission, Chukwuma said, has been engaging in fact-finding interactions with traders’ associations and marketers to ascertain the factors responsible for the continuous hike in food prices.
The South-South Zonal Coordinator of the FCCPC said that the fact-finding inquiry was an investigative mission to gather information directly from the sources and stakeholders in major markets, particularly executives, market unions, sellers, and consumers.
Chukwuma added that the commission’s priority remains to unlock the markets and address key consumer protection and competition issues affecting the prices of commodities in the food sector.
He stated, “FCCPC’s surveillance efforts suggest participants in the food chain and distribution sector, including wholesalers and retailers, are allegedly engaged in conspiracy, price gouging, hoarding and other unfair tactics to restrict or distort competition in the market, restrict the supply of food, manipulate and inflate the price of food indiscriminately.
“These obnoxious, unscrupulous, exploitative practices are illegal under the FCCPA.
“Following this exercise, the commission would develop a concise report of its inquiry and make recommendations to the government in line with Section 17(b) of the FCCPA and initiate broad-based policies and review economic activities in Nigeria to identify and address anti-competitive, anti-consumer protection, and restrictive practices to make markets more competitive while also ensuring fair pricing for consumers.
“As part of our mandate as enshrined in FCCPA section 17B, part of what we do is to advise the Federal Government on policies, especially economic policies, so what we are doing today is what we call a market survey to find out what has been causing this continuous price increase of goods and services in the market places.”
Chukwuma added, “We know that recently the dollar went up and also drove the price of goods and services in the marketplace, but the government in its wisdom has done everything it can to reduce the rate of dollars against naira, but we have not seen a commensurate reduction in the price of goods and services.
“People are saying that whenever prices go up it cannot come down again, but we are asking what drove the cost of goods and services and what is sustaining it, so that is why we have decided to take this exercise with the market leaders, the sellers, and also the buyers.
“So when we collate this information we are gathering we use it to advise the government on policies and what to do because the total essence of government is for welfare and the security of the citizens.
“So I know that this current government is a government that listens if sound arguments and policies are presented. I am sure that they will be willing to buy into it so that our consumers will smile again.
“We have found out that there is a lot of money that people pay from point of purchase. Almost all the people we spoke with said the same from Benue State to this place. Each truck coming here pays not less than N250,000 as illegal fees enroute their respective destinations.”
The Tide learnt that some traders in the market expressed their plight, saying the cost of transportation and multiple checkpoints by policemen, who demand tips on the road are responsible for the price hike.
News
US Embassy, Lagos Consulate Close Today For President’s Day
The United States Embassy in Abuja and the Consulate General in Lagos will be closed today, in observance of Presidents’ Day.
The mission made this known in a notice shared on its official X page, yesterday.
“The U.S. Embassy in Abuja and the Consulate General in Lagos will be closed on Monday, February 16, 2026, in observance of Presidents’ Day,” the post read.
According to the embassy, Presidents’ Day was originally established to honour the birthday of the former US President, George Washington, but has evolved into a day to celebrate all U.S. presidents and their leadership in shaping the country’s history.
The embassy noted that the holiday also recognises the influence of U.S. presidents on global affairs.
In a related message, the mission highlighted that Washington created the first “Badge of Military Merit,” which later became the Purple Heart. The medal still bears Washington’s image today.
Presidents’ Day is observed on the third Monday of February annually in the United States as a federal holiday.
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Guterres Backs Nigeria’s Bid For UN Security Council Seat …Hails Tinubu’s Reforms, Regional Security Role
United Nations Secretary-General, António Guterres, has charged Nigeria with spearheading Africa’s quest for a restructured global order, describing the country as uniquely positioned to lead the continent toward superpower status.
Guterres, who backed Nigeria’s bid for the world body’s security council seat, also praised the economic reforms of the President Bola Tinubu-led administration as well as Nigeria’s leadership in stabilising the Sahel and ECOWAS regions, despite facing its own security challenges.
The UN scribe made the remarks last Friday night during a high-level bilateral meeting with Vice President Kashim Shettima on the sidelines of the 39th African Union (AU) Summit in Addis Ababa, Ethiopia.
Speaking during the meeting, Guterres said Nigeria’s large population, sustained democratic governance, vast natural and human resources, and longstanding commitment to multilateralism placed it in a unique position to lead Africa in the evolving global order.
“Given Nigeria’s demographic strength, democratic continuity and deep resource base, the country stands a real chance of leading Africa to becoming the next superpower in the evolving global architecture,” he said.
The UN Secretary-General and the vice president discussed key developments in Nigeria and the country’s expanding leadership role in promoting regional stability across West Africa and the Sahel.
Guterres commended the remarkable and outstanding reforms of the administration of President Tinubu, noting that Nigeria’s bold economic restructuring and security commitments have strengthened its continental standing.
The meeting focused on strengthening Nigeria–UN collaboration to advance global economic growth, peace and security, sustainable development, and a coordinated humanitarian response across Africa.
In his remarks, Shettima thanked the UN Secretary-General for his leadership in advancing global peace, noting that Africa has benefited immensely from his tenure, even as the United Nations undergoes internal restructuring.
“We remain committed to multilateralism and to deepening our partnerships with the United Nations and other global institutions,” the vice president said.
Shettima also reiterated Nigeria’s longstanding call for comprehensive reform of the United Nations system to reflect evolving global realities.
He emphasised that Africa must have stronger representation in global decision-making structures and declared that Nigeria deserves a permanent seat on the United Nations Security Council.
Both leaders pledged to deepen cooperation, with Guterres reaffirming the UN’s support for Nigeria’s reform agenda and its growing leadership role in advancing peace, security, and development across Africa.
News
Four To Face Death Penalty Over DPO Angbashim’s Murder
A Rivers State High Court sitting in Port Harcourt has convicted and sentenced four persons to death by hanging over the gruesome killing of the former Divisional Police Officer of Ahoada East Police Division, SP Bako Angbashim.
The presiding Judge, Justice Sika Aprioku, in a landmark judgment, last Thursday, found the quartet guilty of conspiracy, murder, membership of a secret cult group and robbery, saying the prosecution proved its case beyond reasonable doubt.
Those sentenced to death by hanging are Robinson Sonabari, identified as a native doctor; Bright Okparawo; Precious Amaeze, popularly known as Selina; and Loveday Jack, also known as Ragged Excess. The court ordered that they be hanged by the neck until they are confirmed dead.
Justice Aprioku also convicted the sixth defendant, Samuel Nwadinma, and sentenced him to three years imprisonment for conspiracy.
The third accused person was, however, discharged and acquitted of the four-count charge.
In the same vein, the court discharged Famous Okechukwu, Samuel Uchendu, Oyekachi Ikonwa, Godbless Nnamdi and Marshall Daniel, who were earlier found guilty of membership of a secret cult group, on the grounds that they had already served the maximum terms prescribed by law in the correctional facility.
The court held that among those convicted was the native doctor who allegedly prepared the charm used in the killing of the late DPO.
Speaking with newsmen shortly after the judgment, the lead prosecution counsel from the Rivers State Ministry of Justice, Chigozie Amadi, alongside a representative of the police legal team, Celestine Dickson, commended the judiciary for ensuring that justice was served.
Dickson, who represented the Nigeria Police Force in the joint prosecution, expressed concern that officers saddled with the responsibility of protecting lives and property had increasingly become targets of criminal elements.
He, however, expressed optimism that the judgment would serve as a strong deterrent to would-be offenders.
Also reacting, the elder brother of the late DPO, Akasco Angbashim, who travelled from Nasarawa State to witness the judgment, said the verdict had healed a long-standing wound inflicted on the family since the brutal murder of their brother.
He commended the judiciary, the Rivers State Government and the police for their commitment to justice, stressing that the judgment sends a clear message that no individual has the right to unlawfully take another person’s life.
The four convicts were among 72 persons initially arraigned before the State High Court by a joint prosecution team comprising the Department of Public Prosecutions and the Rivers State Police Command over the murder.
During the trial, 61 accused persons, including the Eze Ekpeye Logbo, Eze Kelvin Anugwo, and a former Ahoada East Council Chairman, Cassidy Ikegbidi, were discharged and acquitted for lack of evidence, leaving 13 defendants to face judgment.
SP Angbashim was gruesomely murdered on September 8, 2023, during a police operation in Odemude community, Ahoada East Local Government Area.
His killing sparked tension in the area, prompting a joint security operation that led to the death of the suspected cult leader, David Okparanwo, popularly known as 2Baba.
By: King Onunwor
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