Connect with us

Feature/OPED

Olatunji Bello, FCCPC and the Fight Against Exploitative Practices In the Market Place

Published

on

FCCPC

By Edwin Uhara

There is no gain denying the fact that the commodity prices in our various marketplaces are over the roof of the common man; whether it’s the price of essential commodities or non-essential commodities, the story is the same.

However, what is been underreported is the efforts of the Olatuji Bello-led Federal Competition and Consumer Protection Commission (FCCPC) to curb the exploitative practices in our various local markets.

Exploitative practices occur when marketers over-inflate the prices of their commodities to make huge profits at the expense of the final consumers.

Final consumers comprise all persons who are the end users of these products, the worst hit are the people in the lower rank of our economic ladder who are often the majority.

Accordingly, Nigerians can attest to the recent revelation by the Chairman of BUA Cement Company, Dr Ishaku Abdulsamad Rabiu, when he said this: “We were selling cement at N3,500 with the expectation that dealers and retailers would pass the benefits of the low price to end-user customers, but some were selling at N7,000 and N8,000 per bag, making a lot of money from the very high margin. I think we sold more than a million tons at N3,500 before we realised what the dealers were doing.”

He made this disclosure at the 8th Annual General Meeting of the company in Abuja, adding that the activities of those intermediaries undermined his company’s policy to maintain the N3,500 per bag price in 2023.

Collaborating with the position of the BUA boss, the executive director of the company, Mr Kabir Rabiu, added: “We sold our cement for three to four months at N3,500. We thought other players in the cement industry would join us in making the price of cement affordable, so BUA Cement had to discontinue its low-price policy as it was not intended to subsidise dealers.”

Dr Rabiu attributed the high cost of cement to the exploitation of consumers by middlemen within the supply chain.

He added that the company could not control the prices in the open market, where dealers were making substantial profits from the high margin.

Similarly, we also read the recent revelation by a popular economist and the Executive Director of Financial Derivatives, Mr Bismarck Rewane, when he alleged that some civil servants bought 50kg bags of rice at N40,000 and resold it at N85,000.

He said the price of rice at the ‘Parallel market’ increased by 3.62 per cent to N85,000 from the normal N83,000 despite the government’s subsidized price of N40,000.

He made the allegation before the Federal Government suspended the N40,000 per bag rice initiative.

These and many other factors are the reasons the FCCPC decided to issue a directive to marketers to sell their items at reasonable prices and stop the unreasonable exploitation of Nigerian consumers.

Here is what the FCCPC said: “Price control is entirely outside the scope of our responsibilities, we have never considered nor will we ever consider intervening in the market to regulate prices … Our recent directives are not about controlling prices but are focused on curbing exploitative behaviours that distort the market place and harm consumers.”

“We encourage all businesses to engage in critical and lawful practices that contribute to a fair and competitive marketplace… Our role is to ensure that the market operates on principles of fairness, transparency and accountability.”

However, some cartels in the market chain distorted the original version of the statement and alleged that the FCCPC was planning to introduce a price control mechanism whereas that was not what the statement said.

Instead of facing the truth, some members of these cartel networks resorted to chasing the shadows by sponsoring propaganda against the commission in the media to incite the people against the leadership of FCCPC.

The simple truth is that these cartels are afraid of what would be their fate when the one-month grace period given to them to sell their communities within rational prices by the commission expires.

Here is what the commission said: ‘We have granted 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.”

“The FCCPC stands firm in its commitment to enforcing the Federal Competition and Consumer Protection Act (FCCPC) 2018.”

The statement added: “We will continue to monitor the marketplace and take action against business practices that violate the law. Consumers and businesses alike can trust that we will remain vigilant in uplifting the principles of fair competition and ensure protection.”

At this juncture, all Nigerians of good will must rally round the FCCPC as it strives to allow the forces of demand and supply to determine the prices of goods in Nigeria and not price fixing by some cartel networks who are only interested in the money they would make and not the value they would add to the overall economic development of the country.

Kudos must also go Mr Olatunji Bello for summoning the courage to confront these forces in the marketplace who have been suffocating Nigerians with exploitative practices that do not correlate with the laws of demand and supply.

Comrade Edwin Uhara is a Public Policy Analyst

Feature/OPED

Taxation Without Representation

Published

on

Austin Orette Taxation Without Representation

By Dr Austin Orette

The grandiosity of Nigerians when they discuss events and situations can be very funny. If the leaders use this kind of creativity in proffering solutions, we may be able to solve some of the problems that plague Nigeria perennially.

There seems to be a sublime affectation for new lingos when the system is being set to punish Nigerians. It is a kind of Orwellian speak.

Recently, there was no electricity throughout the country. The usual culprit and government spoke; people came out to tell us the power failure was due to the collapse of the National grid. Does it really matter what is collapsing? This is just an attempt by some government bureaucrats to sound intelligent.

Intelligence is becoming a borrowed commodity from the IMF or World Bank. What does it mean when you tell Nigerians that the national grid collapsed? Is that supposed to be a reassurance, or it is said to give the assurance that they know something about the anemic electricity, and we should get used to the darkness. This is a language that is vague and beckons the consumer to stop complaining. Does that statement mean anything to Nigerians who pay bills and don’t see the electricity they paid for? If they see it, it comes with an irregular voltage that destroys their newly purchased appliances. Just tell or stay quiet like in the past.

Telling us that a grid collapse is a lie. We have no national grid. Do these people know how silly their language sounds? Nigeria produces less than 10,000 megawatts of electricity for a population of 200 million people. How do you permutate this to give constant electricity to 200 million people? It is an insult to call this low output a national grid. What is so national about using a generator to supply electricity to 200 million people? It is simple mathematics. If you calculate this to the minute, it should not surprise you that every Nigerian will receive electricity for the duration of the blink of an eye. They are paying for total darkness, and someone is telling them they have an electricity grid.

If you can call the 10,000-megawatt national grid collapsed, it means you don’t have the mind set to solve the electricity problem in Nigeria.

To put it in perspective is to understand the basic fact that the electrical output of Nigeria is pre-industrial. Without acknowledging this fact, we will never find solutions as every mediocre will come and confuse Nigeria with lingos that make them sound important.

It is very shameful for those in the know to always use grandiose language to obfuscate the real issues.

South Africa with a population of sixty million produces about 200,000 megawatts of electricity daily. Nigeria produces less than 10,000 megawatts. Why South Africa makes it easy to lift the poor from poverty, Nigeria is trying to tax the poor into poverty.

The architects of the new tax plan saw the poor as rich because they could afford a generator.

A non-existent subsidy was removed, and the price of fuel went through the roof. Now the government says they are rich. What will they get in return for this tax extraction? Why do successive Nigerian governments always think the best way to develop Nigeria is to slap the poor into poverty? What are the avenues for upward mobility when youth corps members are suddenly seen as rich taxpayers? Do these people know how difficult it is to start a business in Nigeria?

After all the rigmarole from Abuja to my village, I cannot get a government certificate without a-shake down from government bureaucrats and area boys. The government that is so unfriendly to business wants to tax my non-existing businesses. Are these people in their right state of mind? Why do they think that taxing the poor is their best revenue plan? A plan like this can only come from a group of people who have no inkling of what Nigerians are going through. People can’t eat and the government is asking them to share their meager rations with potbellied people in Abuja.

Teach the people how to fish, then you can share in their harvest. If an individual does what the government is doing to Nigerians, it will be called robbery, and the individual will be in prison. When the government taxes people, there is a reciprocal exchange. What is being done in Nigeria does not represent fair exchange.

Nigerians have never gotten anything good from their government except individual wealth that is doled out in Abuja for the selected few.

The question is, will Nigerians have a good electricity supply? NO. Will they have security of persons and properties? No. Will they have improved health care? NO. Will there be good roads? No. Will they have good schools and good education? No.

Taxation is not good governance. A policy like this should never be rushed without adequate studies. Once again, our legislators have let us down. They have never shown the people the reason they were elected and to be re-elected. They are not playing their roles as the watchdog and representatives of the people. Anyone who voted for this tax bill deserves to lose their positions as Senators and Members of the House of Representatives.

We are not in a military regime anymore. Nigerians must start learning how to exercise their franchise. This taxation issue must be litigated at the ballot box. The members of the National Assembly have shown by their assent that they don’t represent the people.

In a normal democracy, taxation without representation should never be tolerated. They must be voted out of office. We have a responsibility and duty to use our voting power to fight unjust laws. Taxation without representation is unjust. Those voted into power will never respect the citizens until the citizens learn to punish errant politicians by voting them out of office. This responsibility is sacred and must be exercised with diligence.

Dr Austin Orette writes from Houston, Texas

Continue Reading

Feature/OPED

Why GOtv Continues to Shape Nigeria’s Home Entertainment Culture

Published

on

GOtv Logo

For many Nigerian families, GOtv has become more than a television service. It is part of the daily routine. It is what people unwind with after a long day, what keeps children entertained on quiet weekend mornings, and what brings households together during football matches, movie nights, and festive celebrations. Over the years, GOtv has blended naturally into these everyday moments, shaping the way Nigerians enjoy entertainment at home.

Here are some of the reasons GOtv continues to stand out.

1. Local Content That Feels Like Home

Nigerians love stories that reflect their lives, and GOtv delivers this consistently. With Africa Magic, ROK, and other local channels, viewers enjoy Nollywood movies, relatable dramas, reality shows, and lifestyle programming that speak their language. These are familiar faces, familiar stories, and familiar experiences. GOtv understands the value of cultural connection and continues to invest in the content viewers care about.

2. Affordable Packages That Work for Real Families

GOtv has built its reputation on affordability. With packages designed for different budgets, families can enjoy quality entertainment without financial pressure. Some of the affordable packages on GOtv include GOtv Jinja, GOtv Jolli, GOtv Max, GOtv Supa, GOtv Supa Plus. This balance of good content at a comfortable price is a major reason GOtv remains a trusted household name across Nigeria.

3. A Channel Lineup That Has Something for Everyone

The beauty of GOtv is its range. Children enjoy their cartoons and animated shows, parents relax with movies and telenovelas, sports lovers stay connected to live games and highlights, and music and lifestyle channels keep the energy lively. Whether it is catching up on the news, finding something light after work, or choosing a family movie for the weekend, GOtv fits naturally into everyday Nigerian life.

4. Programming That Matches Our Daily Rhythm

GOtv understands the way Nigerians watch television. Weeknights come with easy to follow entertainment, weekends offer longer movies and marathons, and festive seasons arrive with special programming that brings everyone together. The schedule is practical, familiar, and aligned with the pace of Nigerian homes.

5. Easy Access Across the Country

From major cities to smaller communities, GOtv remains reliable and easy to use. Installation is straightforward, navigation is simple for both adults and children, and the service works seamlessly across the country. Even when life gets busy, GOtv makes it easy to stay connected, subscribers can pay and reconnect instantly without long processes or penalties, picking up right where they left off.

With relatable content, pocket-friendly pricing, and a channel lineup built around real Nigerian lifestyles, GOtv has earned its place in homes across the country. As the entertainment landscape evolves, GOtv continues to grow with its viewers, shaping how Nigerians watch, share, and enjoy moments together every day.

Continue Reading

Feature/OPED

Tegbe Highlights Benefits of Nigerian Tax Reform Acts

Published

on

joseph tegbe tax laws

Chairman of the National Tax Policy Implementation Committee (NTPIC), Mr Joseph Tegbe, has enumerated the benefits of the Nigerian Tax Reform Acts 2025, stating they mark a significant turning point in the country’s pursuit of a robust and sustainable economy.

In an article published in several national publications, Mr Tegbe said the tax laws were a comprehensive overhaul of the country’s fiscal architecture, aimed at creating a modern, efficient, and transparent tax system that supports economic growth, development, and prosperity for all Nigerians.

The NTPIC chair, who is also the Director-General of the Nigeria-China Strategic Partnership (NCSP), affirmed that the new tax laws are built around four key pillars: reconnecting the economy to the state, standardising and modernising fiscal administration, promoting predictability, and re-balancing the fiscal social contract.

“By broadening the tax net, simplifying rules, and improving administration, we are creating a more predictable fiscal environment that supports businesses and households,” he explained.

He cited global best practices that informed the reforms like South Korea, Singapore, and Rwanda, where tax reforms have driven economic growth and development.

“These countries have shown that with the right policies, institutions, and leadership, it is possible to transform a nation’s economy and improve the lives of its citizens,” he said.

According to him, the tax reform will protect low-income earners and small businesses, with measures such as zero tax rates for those earning up to N800,000 and the expansion of zero-rated VAT items for critical sectors, including healthcare, education, and agriculture.

“By taking away the tax burden on small income earners and small businesses, the reforms aim to preserve livelihoods, encourage formal participation, and allow enterprises to grow organically. We recognise that these sectors are critical to our nation’s development, and we are committed to supporting them,” he noted.

The Acts also emphasise digitalisation and technology-driven tax administration, with the introduction of e-invoicing to improve compliance, transparency, and reduce administrative burdens, a significant step towards modernising the tax system and making it more efficient, he posited.

Consequently, he emphasised that the success of the reform depends on careful implementation, necessitating ongoing engagement with stakeholders to ensure proper understanding.

The implementation of the tax Act is expected to stabilise the fiscal environment, support production, protect critical sectors, and modernise tax administration in line with global standards, adding it will also enhance Nigeria’s ease of doing business, attract foreign investment, and generate employment opportunities.

“We are confident that these reforms will unlock new opportunities for businesses, investors, and entrepreneurs, and contribute to the growth and development of our economy,” he added.

Continue Reading

Trending