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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.
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Fubara, Canadian Envoy Synergise On Health Sector Growth, Investment Relations
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Rivers State Governor, Sir Siminalayi Fubara, has further canvassed the strengthening of the relationship between the State and the Canadian Government in order to attract more investments, promote economic growth while delivering quality healthcare services in the State.
These were part of the focus of the discussion that took place between Governor Fubara and the Canadian High Commissioner to Nigeria, Mr James Christoff, when they met behind closed doors at Government House in Port Harcourt on Monday.
Speaking to newsmen after the meeting, Mr Christoff expressed satisfaction with the issues discussed and mutually endorsed, and expressed willingness to ensure their actualisation, separately and collectively to their benefit.
Particularly, Mr Christoff said: “First of all, let me say what an honour and pleasure it is for me to be here in Rivers State. I had a couple of very good meetings here over the last day, including with His Excellency, the Governor.
“We talked about areas where we know there are some rooms for us to, I think, further entrench our relationship. One of the things I’ll be doing while I’m here in Rivers State is to visit the Medical Oxygen facility that Canada provided significant support to, overseen by UNICEF.
“And, just knowing that health is a priority for His Excellency, I want to see for myself the Medical Oxygen Plant at Eleme General Hospital, to better understand how that’s making a tremendous difference here in the State.”
Mr Christoff also said that the discussion extended to the abundant natural resources in Rivers State, which are evidence of how blessed it is as a State much like Canada.
The envoy pointed to how expressively he divulged the determination of his country to explore areas “where we can always look to take a very good situation and raise the bar in terms of how we benefit.
“In our case, as Canada, from natural resources and what it brings to a community. And so, we shared some insights on that particular issue, and of course, there are the people-to-people ties that are growing between Nigeria and Canada that are very important.
“And we look for ways to, maybe, tap into the many Nigerians who have a foot in both countries, to the benefit of both countries. So, it was a very good discussion. I’m very happy to be here.”
Mr Christoff further said: “Well, I would say that in terms of business development, that’s a two-way street. Of course, it’s part of our job, part of my job as Canada’s High Commissioner to Nigeria to try and unpack the opportunities that reside here for our companies, and I think we’re making great strides in that.
“And so, wherever I go, when I visit, pay visits on governors across the great country of Nigeria, I always look to find the areas where we might bring our companies and the host government to collaborate.
“As I mentioned, the natural resource sector is one such area, and I look forward to further discussions with state governments, and how we might benefit collectively,” he added.
He noted the peaceful and hospitable ambience in the State, stressing that the Canadian government and companies were satisfied with the opportunities that exist in the State, and were tapping into existing policies to further boost mutual collaborations.
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Bill Gates Foundation Highlights Nigeria’s Potential To Transform Agriculture, Health
Bill & Melinda Gates Foundation (BMGF) has highlighted Nigeria’s potential to significantly increase its agricultural output, which the foundation described as a transformative opportunity for the country.
Mr Bill Gates, Philanthropist and co-chair of the Foundation, said this in Abuja, yesterday, at the 2024 NutriVision, a Pan African dialogue to discuss innovative solutions to combating malnutrition in Africa.
Gates said that with the right investments in agricultural productivity and healthcare, Nigeria could achieve food security and also become a net food exporter, contributing to economic growth and improved public health.
He pointed out the immense potential for Nigeria to more than double its food output, which would be a game-changer for the nation.
He noted that such a shift would alleviate the need to use scarce foreign currency reserves to import food, particularly given the current exchange rate challenges.
“There is the opportunity for Nigeria to more than double its food output, which would be pretty transformative because it would mean that you would be a net food exporter.
“Nigeria could bring in revenue by exporting food, boosting the economy and improving the livelihoods of those in rural and Northern areas,” he said.
The philanthropist emphasised the importance of embracing digital approach and utilising better seeds to spark what he termed “agricultural miracles.”
He explained that improving agricultural productivity was crucial for addressing equity, empowering women, and tackling nutrition issues in Nigeria.
He called for a concerted effort to implement these solutions, which would not only enhance food security but also contribute to broader social and economic development.
Gates also discussed the crucial role of healthcare in Nigeria’s development, noting that the government must prioritise health as part of its broader strategy.
He highlighted the need for Nigeria to increase government funding for health and education, supported by improved tax collection.
“The actual tax collection in Nigeria is pretty low. As citizens develop confidence in well-run programmes, they will support increased funding for essential services, “he said.
He underscored the importance of efficient primary healthcare systems, where resources are allocated wisely, and services are delivered effectively.
“Our foundation’s involved with a lot of the exemplars that are showing the way in terms of making sure the money is spent well.
“We are running a very efficient primary health care system where the employees are doing great work, the centres are where they should be, you do not have underloaded centres or overloaded centres,” he said.
He expressed optimism that these efforts would enhance the credibility of health programmes, encouraging citizens to prioritise and advocate for better funding of primary healthcare.
He stressed the potential for Nigeria to learn from best practices around the world and adapt them to local contexts, thereby driving progress in both agriculture and healthcare.
He painted a hopeful picture of a future where Nigeria could feed itself and also nourish the world by making the right choices and placing people at the centre of these efforts.
The Tide source reports that the BMGF advocates that solutions to Africa’s greatest challenges can come from within Africa.
The foundation, thus, supports African partners whose bold ideas and creative approaches have the potential to save lives, improve health and help families across the continent.
Since the foundation’s inception in 2000, it has supported partnerships with African regional institutions, national governments, and local communities in 49 countries.
It contributes funding and scientific expertise in support of their agenda for change.
These partnerships have driven the success of numerous health, agriculture, equality, and anti-poverty initiatives.
The foundation has committed more than seven billion dollars through 2026, to support African countries and institutions working to develop and implement innovative approaches to confront hunger, disease, gender inequality, and poverty.
It works with African governments, the private sector, non-profit organisations and civil society.
The efforts are geared towards improving health outcomes, boosting agricultural productivity, expanding access to digital financial services, and empowering women and other marginalised populations with greater economic opportunities.
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No Directive Was Issued To NNPCL To Increase Petrol Price To N1,000, Says Lokpobiri
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The Minister of State Petroleum Resources (Oil), Sen. Heineken Lokpobiri, has said that no directive was issued to the Nigerian National Petroleum Company Limited (NNPC Ltd.) to increase petroleum prices to N1,000.
Lokpobiri, in a statement issued, yesterday, by his Special Adviser, Media and Communication, Nnemaka Okafor, said he did not direct the NNPC Ltd. or any other entity within the sector to manipulate prices.
“The Federal Government has been compelled to address the outright falsehood and malicious claims currently circulating on social media.
“We categorically condemn these claims as baseless, malicious, and a deliberate attempt to incite public discontent.
“We challenge anyone in possession of any evidence-be it written documents, audio, or video recordings-that supports these fabrications to make it public.
“Such a claim is entirely devoid of truth and should be recognised as an intentional effort to mislead the public,” he said.
He explained that the NNPC Ltd. operates as an independent entity under the Companies and Allied Matters Act (CAMA), with a fully empowered Board of Directors and the Ministry of Petroleum Resources does not, and will not interfere in NNPC Ltd.’s internal decisions, including pricing matters.
“Any suggestion otherwise is not only incorrect but also reveals a profound misunderstanding of the deregulated nature of Nigeria’s petroleum sector,” he said.
He advised the public to dismiss these malicious rumors.
“Any claim to the contrary is nothing more than an ill- conceived attempt to sow discord and confusion.
“We urge all Nigerians to remain vigilant and rely solely on information from verified and official channels,” he said.
The Tide source reports that as at Tuesday, the NNPC Ltd. Retail Stations adjusted their pump price, selling at N897 as against N617 per litre.
Independent marketers are selling between N930 to N1,000.
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