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FCCPC to Tackle Inflation by Engaging Market Leaders and Distribution Chains Nationwide.√√√Newzspy.
FCCPC to Tackle Inflation by Engaging Market Leaders and Distribution Chains Nationwide.
The Federal Competition and Consumer Protection Commission (FCCPC) has announced plans to engage market leaders and key stakeholders in the supply and distribution chain across Nigeria. This initiative is part of a broader strategy to address the growing concern of exploitative pricing of consumer goods, which has been exacerbated by the current economic climate.
The Commission’s efforts are anchored in various provisions of the Federal Competition and Consumer Protection Act (FCCPA) of 2018, specifically Sections 17(l) (s), 116(2), 124, 125, 138, and 155. These sections empower the FCCPC to regulate and monitor market practices, ensuring that consumers are not unduly exploited by unfair pricing mechanisms.
Impact of Exchange Rates on Pricing
Nigeria’s economy has been significantly impacted by fluctuations in the exchange rate, which has, in turn, affected the value of the Naira. While this economic reality has been acknowledged by the FCCPC, the Commission has observed that many prices, particularly for imported goods, are disproportionately high. This situation is compounded by the fact that even locally produced goods are often priced excessively, far beyond what is reasonable given their production costs.
Concerns Over Price Fixing
One of the most concerning practices identified by the FCCPC is price fixing, particularly within the retail segment of the distribution chain. In many cases, market associations and leaders have been found to engage in this unfair practice, which ultimately leaves consumers paying more than necessary for everyday goods. Price fixing not only undermines healthy competition but also places an undue burden on Nigerian consumers, many of whom are already struggling with the rising cost of living.
Collaborative Approach for Fair Pricing
To combat these exploitative practices, the FCCPC is seeking to collaborate directly with market leaders and other stakeholders. By fostering dialogue and understanding, the Commission aims to reach a consensus on what constitutes reasonable pricing, taking into account the need for traders to make a profit without exploiting consumers.
The FCCPC’s engagement with market leaders is seen as a crucial step toward establishing a more ethical market culture in Nigeria. This approach aligns with the broader “Renewed Hope” agenda of President Bola Tinubu, which emphasizes economic fairness and consumer protection as key pillars of national development.
Sustained Advocacy and Market Regulation
As part of its ongoing advocacy efforts, the FCCPC has already issued directives to operators of supermarkets and other retail outlets. These businesses are now required to clearly display the prices of all products on their shelves, ensuring transparency for consumers. This measure is intended to prevent situations where shoppers are “ambushed” by unexpected prices only at the point of payment, after which receipts have already been issued.
According to Mr. Tunji Bello, the Executive Vice Chairman and Chief Executive Officer of the FCCPC, these initiatives are designed to protect consumers from exploitation during these challenging economic times. “We are committed to ensuring that Nigerian consumers are treated fairly and that market practices are aligned with the principles of transparency and fairness,” he stated.
The Commission’s engagement with market leaders and continued advocacy for consumer rights are expected to have a significant impact on market practices in Nigeria. By curbing excessive pricing and promoting fair competition, the FCCPC hopes to ease the financial burden on consumers and contribute to a more stable and equitable economy.
This initiative represents a proactive approach by the FCCPC to address the root causes of inflation and protect the interests of Nigerian consumers. As the Commission moves forward with its plans, it will continue to monitor the market closely and take further action as needed to ensure compliance with fair pricing regulations.
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Military to Capture Bandit Leader Bello Turji Soon, Says Defence Chief.√√√Newzspy.
Chief of Defence Staff (CDS), General Christopher Musa.
The Chief of Defence Staff (CDS), General Christopher Musa, has reaffirmed the military’s commitment to eliminating notorious bandit leader, Bello Turji, stating that his days of terror are numbered. Addressing reporters after a high-level security meeting at the Defence Headquarters in Abuja, General Musa expressed confidence that the Nigerian Armed Forces will soon apprehend Turji, who has been at the helm of numerous violent attacks, kidnappings, and other criminal activities, particularly in the northwest region.
Turji, infamous for leading a network of heavily armed bandits and terrorizing rural communities, has long evaded capture. However, General Musa assured Nigerians that the military is intensifying its operations to track him down and neutralize the threat posed by his group.
“It is only a matter of time before we get him,” the CDS declared. “Bello Turji is just a deranged individual who mistakenly feels powerful because of his control over his bandit network. But I can assure you, in the shortest time possible, we will apprehend him and address this issue decisively.”
The security meeting, convened at the heart of Nigeria’s defence command, was attended by top military and paramilitary officials, reflecting the seriousness of the security challenges posed by insurgency and banditry. Among the attendees were National Security Adviser (NSA) Nuhu Ribadu, Chief of Army Staff Lieutenant General Taoreed Lagbaja, Chief of Naval Staff Admiral Emmanuel Ogalla, and Chief of Air Staff Air Marshal Hassan Abubakar. The leadership of paramilitary organizations was also present, further highlighting the cross-agency collaboration necessary to address the nation’s complex security threats.
During the briefing, General Musa called on communities in areas affected by banditry and terrorism to support the efforts of the military. He emphasized that the continued presence of informants within local communities has hampered military operations by providing critical information to criminal elements.
“One of the major challenges we face is the support that some individuals within the communities give to these bandits. They provide them with information about the movement of our troops,” General Musa revealed. “This is what is allowing these criminals to continue their activities. If the communities stand with us and stop giving them this support, it will be easier to contain the situation.”
He also warned that asymmetric warfare, which the nation is currently battling, is a unique and difficult type of conflict. The nature of these wars, he explained, involves non-state actors who do not wear uniforms, making it difficult to distinguish them from civilians.
“Asymmetric warfare is something that must be prevented from taking root because once it starts, it becomes a very difficult operation. You are dealing with non-state actors who do not wear uniforms, who do not operate like conventional soldiers. They know us, but we don’t know them,” General Musa explained. “That is why we are calling on every Nigerian to assist us by not supporting these bandits. They are in the communities, and if the people refuse to cooperate with them, we will quickly defeat them.”
The military chief’s comments came in the wake of a recent surge in banditry and kidnapping incidents in the northwest, where armed groups have continued to exploit the vast, rugged terrain to evade military crackdowns. General Musa’s declaration is expected to renew hope among citizens that the military is committed to eradicating these criminal elements.
In addition, the CDS called for stronger collaboration between the military and other security agencies, highlighting the necessity of working together to deny criminals the freedom to operate within Nigeria’s borders. He reiterated the importance of intelligence gathering and information sharing in ensuring the success of ongoing military campaigns.
“We must all come together—Armed Forces, security agencies, and the general public—to ensure that these bandits and terrorists can no longer move freely within our communities,” General Musa stressed. “The more we collaborate, the faster we will achieve peace and security in all affected regions.”
The Nigerian government has been grappling with the twin challenges of insurgency in the northeast and banditry in the northwest, both of which have taken a significant toll on local populations, forcing many to flee their homes. Efforts to combat these threats have seen a combination of military operations, community engagements, and amnesty offers, though the results have been mixed.
Nonetheless, with the renewed commitment from the top military brass, there is growing optimism that Bello Turji’s reign of terror will soon come to an end, and a sense of normalcy will be restored to the troubled region.
As General Musa emphasized, the military remains resolute in its mission to protect the territorial integrity of Nigeria and ensure the safety of all its citizens. “We are not backing down. We will bring all enemies of the state to justice, no matter how long it takes,” he vowed.
Credit X Imran Muhammad; Newzspy;
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Categories: Arts And Culture, Breaking News, Business, CrimeControl, CSR, EMPOWERMENT, ENLIGHTENMENT, Environment, General News, Headlines, Health, Humanitarian, INTERVIEWS, Judiciary, LEADERSHIP, PERSONALITY, Property, Safety, Security, Technology, TRANSFORMATION Tags: #Abia, #Adamawa, #AkwaIbom, #Algeria, #allLGAallocationspaidToFGaccounts, #Anambra, #Angola, #Argentina, #Australia, #Bangkok, #Bauchi, #Bayelsa, #Belgium, #Benue, #Bharian, #Bolivia, #Borno, #Brazil, #Bulgaria, #Canada, #Chile, #China, #Congo, #Croatia, #CrossRiver, #Cuba, #Delta, #Dubai, #Ebonyi, #Edo#Ekiti, #Enugu, #Europe, #Finland, #Georgia, #Ghana, #Gombe, #Greece, #Guinea-Bissau, #Hungary, #Imo, #India, #Indonesia, #Israel, #Italy, #Jamaica, #Japan, #Jigawa, #JusticeEmmanuelAgim, #Kaduna, #Kano, #Katsina, #Kebbi, #Kogi, #Kuwait, #Kwara, #Lagos, #Laos, #Lesotho, #Liberia, #Libya, #Malaysia, #Mauritania, #Namibia, #Nasarawa, #NewZealand, #Niger, #Norway, #Ogun, #Oman, #Ondo, #Osun, #Oyo, #Pakistan, #Plateau, #Portugal, #Qatar, #Rivers, #Russia, #SaudiArabi, #Sokoto, #SouthAfrica, #StateOfPalestine, #Supremecourt, #Switzerland, #Taraba, #Thailand, #Togo, #Turkey, #U.S, #Yobe, #Zamfara @jidesanwoolu @drobafemihamzat @Lamataonline @gbenga_omo @gboyegaakosile @BSaluHundeyin @Mr_JAGs #LASG #AGreaterLagosRising @NigeriaGov @NGRSenate @HouseNGR @TradeInvestNG. #Flip #Filminthepark
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Rotary District 9111 Organizes Public Image Seminar. √√√Newzspy.
Rotary International District 9111 is set to hold its Public Image Seminar for Rotarians, non-Rotarians, journalists, public relations and advertising practitioners, bloggers, and graphic designers.
According to Rotary District 9111 Pioneer District Governor, Rotarian (Dr.) Wole Kukoyi, the Chief Medical Director, Ace Medicare Clinic, Ota, “the public image seminar holds on Thursday, October 3, 2024, between 9 am and 12:00 noon at the Rotary Centre, 8 Ladoke Akintola Street, GRA Ikeja, Lagos.”
The Seminar has the theme “Integrated Marketing Communications (IMC): Strategy as Magic for Promoting Public Image in Rotary”
In his contribution, the Chairman Public Image Committee, Rotarian Olalekan Otun, stated that, ” Executive Secretary, National Institute For Cultural Orientation (NICO), Otunba Biodun Ajiboye will chair the lecture and Hon Stephen Ogundipe, Lagos State House of Assembly (LSHA) Chairman of Information, Strategy and Security Committee will be the Special Guest”.
Speakers he noted will include Mr. Austen Osokpor, Head of Corporate Communications, Ecobank Nig Ltd who is to address Sponsorship; Rotarian Tope Akande, Head of Corporate Communications, Lagos State Signage and Advertisement Agency (LASAA) will speak on Outdoor Advertising and Rotarian Michael Effiong, Senior Special Adviser to the Akwa Ibom State Governor on Lagos Liaison will talk about Branding.
The seminar aims to promote the positive public image of Rotary and foster understanding, appreciation and support for its humanitarian intervention projects in the communities.
Signed
Rotarian John Odiboh
Secretary, District 9111 Public Image Committee
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Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
Categories: Arts And Culture, Breaking News, Business, CrimeControl, CSR, EMPOWERMENT, ENLIGHTENMENT, Environment, General News, Headlines, Health, Humanitarian, INTERVIEWS, Judiciary, LEADERSHIP, PERSONALITY, Property, Safety, Security, Technology, TRANSFORMATION Tags: #Abia, #Adamawa, #AkwaIbom, #Algeria, #allLGAallocationspaidToFGaccounts, #Anambra, #Angola, #Argentina, #Australia, #Bangkok, #Bauchi, #Bayelsa, #Belgium, #Benue, #Bharian, #Bolivia, #Borno, #Brazil, #Bulgaria, #Canada, #Chile, #China, #Congo, #Croatia, #CrossRiver, #Cuba, #Delta, #Dubai, #Ebonyi, #Edo#Ekiti, #Enugu, #Europe, #Finland, #Georgia, #Ghana, #Gombe, #Greece, #Guinea-Bissau, #Hungary, #Imo, #India, #Indonesia, #Israel, #Italy, #Jamaica, #Japan, #Jigawa, #JusticeEmmanuelAgim, #Kaduna, #Kano, #Katsina, #Kebbi, #Kogi, #Kuwait, #Kwara, #Lagos, #Laos, #Lesotho, #Liberia, #Libya, #Malaysia, #Mauritania, #Namibia, #Nasarawa, #NewZealand, #Niger, #Norway, #Ogun, #Oman, #Ondo, #Osun, #Oyo, #Pakistan, #Plateau, #Portugal, #Qatar, #Rivers, #Russia, #SaudiArabi, #Sokoto, #SouthAfrica, #StateOfPalestine, #Supremecourt, #Switzerland, #Taraba, #Thailand, #Togo, #Turkey, #U.S, #Yobe, #Zamfara @jidesanwoolu @drobafemihamzat @Lamataonline @gbenga_omo @gboyegaakosile @BSaluHundeyin @Mr_JAGs #LASG #AGreaterLagosRising @NigeriaGov @NGRSenate @HouseNGR @TradeInvestNG. #Flip #Filminthepark
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African Report
Africa’s Digital Future Rests on Strategic Innovation and Infrastructure Development, Says Remita MD, ‘Deremi Atanda. √√√NewZspy.
Africa’s Digital Future Rests on Strategic Innovation and Infrastructure Development, Says Remita MD, ‘Deremi Atanda.
Africa’s prosperity is inextricably tied to the quality of its digital infrastructure, says Mr ‘Deremi Atanda, Managing Director of Remita Payment Services Limited (RPSL). Speaking at the Hyperscalers Convergence Africa Conference during a panel session themed ‘Innovating Towards Africa’s Digital Future,’ Mr Atanda emphasised that Africa’s development depends on innovative strategies that cater to the continent’s unique challenges and opportunities.
The panel session brought together key industry leaders, including Wabo Majavu, Executive, Strategy & Business Operations at Africa Data Centres; Ifeanyi Akosionu, Managing Director, INQ Digital; and Frank Eleanya, Senior Writer, Infrastructure, Business and BigTech at TechCabal. The discussions centred on how digital infrastructure could unlock new possibilities for Africa’s economic growth and sustainability.
“Africa’s prosperity is fundamentally tied to the quality of its digital infrastructure,” Mr Atanda remarked. “Solving Africa’s problems within its context will yield multidimensional benefits. Improved digital infrastructure will enhance the quality of life across the continent, connecting Africa in unprecedented ways. Moreover, expanding digital infrastructure will significantly enhance skills development in Africa, connecting more people and creating vast opportunities. This capacity building is crucial for our continent’s growth.”
“Africa’s digital transformation requires a unified vision and a comprehensive infrastructure agenda, driven by dedicated promoters and community involvement. By integrating diverse skills and fostering collaboration, we can accelerate trade, expand local economies, and enhance the quality of life across the continent. Continuous monitoring and evaluation will ensure sustainable progress, making Africa a significant player in the global digital landscape,” he added.
Echoing this sentiment, Wabo Majavu, Executive, Strategy & Business Operations at Africa Data Centres, stated, “We are building for a future we have not yet seen, and this requires constant collaboration and communication. Adopting a DevOps culture is essential for our success. We must focus on interconnected solutions and collaborate with government programmes to execute our plans effectively.” Her call for collaboration underscores the need for a unity of vision in Africa’s digital transformation, highlighting that innovation cannot exist in isolation.
In Nigeria, digital adoption has grown significantly, with internet penetration reaching 52% of the population in 2023, according to the Nigerian Communications Commission (NCC). The country also witnessed a rise in mobile broadband subscriptions, which surpassed 92.3 million users in 2022, reflecting the increasing demand for digital services across the nation. Despite these advancements, significant gaps remain, particularly in rural areas where infrastructure development and digital inclusion are still lagging. Expanding digital infrastructure to unserved and underserved regions will be key to addressing these challenges and driving sustainable growth.
Olusola Teniola, Director of Strategic Business Initiatives at IPNX, reinforced this perspective by stating that, “With Africa’s population projected to reach 2.4 billion by 2050, the urgency of investing in digital infrastructure has never been more evident. This investment is not just about laying fibre-optic cables or expanding data centres; it is about building a foundation for collaboration, future growth, innovation, and economic prosperity.” This sense of urgency adds a compelling dimension to the need for swift and strategic investment across the continent.
Mr Atanda further emphasised the critical role that innovation plays in addressing Africa’s challenges. He noted that while there have been significant advancements in the digital payment space, there is still much work to be done, particularly in creating intra-African payment systems that facilitate trade and economic collaboration without relying on external channels. He affirms that Remita is at the forefront of this innovation, redefining the ease of connected payments digitally.
“Pan-African payments have been a long time coming. It’s time to take ownership of our digital future and ensure that our solutions are designed by Africans, for Africans. We need to build capacity at scale and create opportunities for the continent to thrive,” he quipped.
One of the key messages Remita’s Managing Director delivered during the session was the importance of community involvement in shaping Africa’s digital future. He called for a collective effort from various stakeholders, including governments, businesses, and educational institutions, to promote and implement a unified digital infrastructure agenda.
“To succeed, we need to engage communities at all levels—whether it’s local communities, governments, or the investment community. This will ensure that Africa’s digital infrastructure meets the unique needs of each region while driving sustainable development,” he explained.
Mr Atanda concluded by advocating for the creation of an African digital infrastructure investment bond, which would encourage both local and international stakeholders to invest in the continent’s digital future.
“Africans must take responsibility for shaping our digital destiny. If we don’t, others will do it for us. We need to start framing the conversation around digital infrastructure in a way that highlights the immense opportunities available and encourages investment in this critical sector,” he said.
About Remita Payment Services Limited (RPSL)
Remita is a payment company on a mission to empower everyone everywhere to do more by simplifying payments. Remita plays a pivotal role in Nigeria’s financial ecosystem, offering innovative payment solutions that simplify the way individuals, organizations, and government entities manage their financial transactions.
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To provide an exceptional news, balance our stories and shine a positive light on our society.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake. If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
Categories: Arts And Culture, Breaking News, Business, CrimeControl, CSR, EMPOWERMENT, ENLIGHTENMENT, Environment, General News, Headlines, Health, Humanitarian, INTERVIEWS, Judiciary, LEADERSHIP, PERSONALITY, Property, Safety, Security, Technology, TRANSFORMATION Tags: #Abia, #Adamawa, #AkwaIbom, #Algeria, #allLGAallocationspaidToFGaccounts, #Anambra, #Angola, #Argentina, #Australia, #Bangkok, #Bauchi, #Bayelsa, #Belgium, #Benue, #Bharian, #Bolivia, #Borno, #Brazil, #Bulgaria, #Canada, #Chile, #China, #Congo, #Croatia, #CrossRiver, #Cuba, #Delta, #Dubai, #Ebonyi, #Edo#Ekiti, #Enugu, #Europe, #Finland, #Georgia, #Ghana, #Gombe, #Greece, #Guinea-Bissau, #Hungary, #Imo, #India, #Indonesia, #Israel, #Italy, #Jamaica, #Japan, #Jigawa, #JusticeEmmanuelAgim, #Kaduna, #Kano, #Katsina, #Kebbi, #Kogi, #Kuwait, #Kwara, #Lagos, #Laos, #Lesotho, #Liberia, #Libya, #Malaysia, #Mauritania, #Namibia, #Nasarawa, #NewZealand, #Niger, #Norway, #Ogun, #Oman, #Ondo, #Osun, #Oyo, #Pakistan, #Plateau, #Portugal, #Qatar, #Rivers, #Russia, #SaudiArabi, #Sokoto, #SouthAfrica, #StateOfPalestine, #Supremecourt, #Switzerland, #Taraba, #Thailand, #Togo, #Turkey, #U.S, #Yobe, #Zamfara @jidesanwoolu @drobafemihamzat @Lamataonline @gbenga_omo @gboyegaakosile @BSaluHundeyin @Mr_JAGs #LASG #AGreaterLagosRising @NigeriaGov @NGRSenate @HouseNGR @TradeInvestNG. #Flip #Filminthepark
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Military to Capture Bandit Leader Bello Turji Soon, Says Defence Chief.√√√Newzspy.
Landmark Dollar Bond Secures $900M for Nigeria’s Infrastructure and Economic Growth.√√√Newzspy.
Rotary District 9111 Organizes Public Image Seminar. √√√Newzspy
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