What has the FCCPC achieved?

[Coyster]

“Nigerians are quick to adjust prices when it is going up and favour them, but when prices go down, they are slow to do that. This is not our character at Indomie,” he said

Deflation is not easy to achieve is what we are experiencing. The government are not capable in having excellent price control and monitoring. FCCPC did nothing.

This one na true, it is so easy for companies and individual businesses to increase the prices of goods and services in Nigeria, but very difficult for them to reduce it when the economic situation gets a little bit better. Though one reason why dem dey do like that na because dem know say if thing better small, it is only temporary, and after sometime again we would be back to the same bad situation. That one no be excuse anyway, even if prices are adjusted regularly (both up and down), e no bad, wetin matter na say the prices of goods dey reflect the present/current economic realities.

N650 per litres are you kidding me? Man I've been buying at N720 since last month and I'm sure with the Scarcity News they might just increase it to N800 this week. Nigerians like to exploit Nigerians.

Fuel price for Nigeria dey differ based on the state wey person dey, even within the same state sev the price dey still differ. E.G. in my area some filling stations dey sell at 705/ltr, while some dey sell at 695/ltr.

[Igebotz]

N650 per litres are you kidding me? Man I've been buying at N720 since last month and I'm sure with the Scarcity News they might just increase it to N800 this week. Nigerians like to exploit Nigerians.

What kind of kidding? I bought it on Monday at 650 per liter. I bought it at 640 since last year to April of this month. It is just of recent that the price is increasing due to the scarcity.

Our correspondents who visited filling stations across the country on Monday observed that many outlets hiked their pump prices, selling a litre of petrol between N650 and over N1,000.

There is scarcity but some filling stations were still reported selling it at 650 per liter on Monday, probably depending on the state. Since last year July or so, I have been buying it around 640 per liter until two days ago that I bought it at 650 per liter.

Selling at 650 per liter during scarcity still means the price was not more than that before when there was no scarcity. Although, the price slightly differ from state to state.

Even without fuel scarcity, NNPC filling stations were selling beyond their stated pump price of N500. If the national filling station cannot maintain the official pricing, what do you suppose the privately owned stations will do? Same country, different fuel prices, same minimum wage.

I've always assumed that those selling below N700 altered their metres to attract customers, because I don't understand why most stations sell at N730 while a few still sell at N650 in the same city and state. Most filling stations in PH sell illegal bunkering fuel, and I always suspect those selling for N650-680.

[nelson4lov]

N650 per litres are you kidding me? Man I've been buying at N720 since last month and I'm sure with the Scarcity News they might just increase it to N800 this week. Nigerians like to exploit Nigerians.

The PH refineries is still not operating yet, everything is just politics, we barley know the true stories these days.

Looks like the range is around 600 to N1000 because while I was still in ph, I got it for < N650 but now in akwa ibom, I got it for N1100 last week, it went down to N750 but now looks tobbe stabilizing at N800. It's funny how everyone is buying at this prices and life is going on. A year and few months ago, we were buying the same fuel around 80-85% less than the current pump prices. Like Igebotz said, it's hard to know the true stories these days because even with fuel subsidy gone, economy haven't gotten any better.

[Justbillywitt]

The price of meat increased. The price of bread did not fall. 5Alive and others prices are still not decreased in price. Should I say thanks to Dangote for crashing the price of AGO. We heard that the government refinery in Port Harcourt will be fully functional in April, but you can see fuel scarcity again instead and this is 28th of April. Fuel that we expected to be sold for 500 naira per liter is still 650 naira per liter.

Because of price control of local products, the federal government told Federal Competition & Consumer Protection (FCCPC) to try to regulate the price of goods in the country. They locked supermarket and doing as if something good as been done but nothing is coming down in price.

Two or three days ago, see what Indomie company’s Group Corporate Communications and Event Manager said in an interview:

Temitope Ashiwaju, the company’s Group Corporate Communications and Event Manager, made the clarification in an interview with the News Agency of Nigeria on Saturday in Lagos.

Ms Ashiwaju said that the clarification became imperative to correct the wrong narrative about the reason for price adjustment for the product recently. He said that the company was also affected by the economic realities, hence the reason for increase in prices of indomie noodles in the past.

“For a listening company such as ours, we felt at some point in time, against our operational cost to adjust when things started to improve. “We had a price reduction, which is not one of those characters that is usually found with some other companies.

“Nigerians are quick to adjust prices when it is going up and favour them, but when prices go down, they are slow to do that. This is not our character at Indomie,” he said

The government were able to manipulate the price of naira up and the price of AGO also continue to increase which makes those local firms and companies to increase the price of goods and services, making the retail prices to be significantly high. Now the price of naira increased, AGO price decreased but most local products prices has not reduced and some still increased in price. Just Indomie and rice price that I know decreased in price among the consumable products. Almost all other products prices are still high.

Omo those FCCPC people has done nothing because everything is still the same as it was when the naira smoked weed and was behaving anyhow. Infact I no even know say this country been get body wey dey responsible to regulate the prices of things, because everybody just dey do as him like. They can't do anything when they are in their offices and taking bribes from management of big companies and traders associations so that dem go keep quiet. My brother those people has been settled to keep quiet that's why you won't see take any drastic action. If not what's there to bring out the expected prices of commodities in the national news papers and media houses and give time frame for wholesalers and retailers to comply and once they fail to comply with the allotted time, dey swing into action and take drastic actions. Take away all the goods in the shop and distribute it to people passing on the road. Like within two three days every dick and Harry will adjust prices and things go come down.

[SmartCharpa]

The Nigerian governments has only been concerned of what'd profer them profits and doesn't care if the masses are being extorted from the little they may have attained. That's why I'd always say that the government knows what they're doing and that's why they're manipulating every financial aspects under their authorities which in conclusion that it's obvious they're responsible for the hardship of todays economy.

Our governments are responsible for everything, during Buhari regime the hardship in our economy is not much the way it is now, Tinubu should have leave the price of fuel the way we bought it before, we started experienced this hardship since Tinubu decided to removed fuel subcidy for how many months now? Getting to a year's now we are facing this hardship economy and things are getting worst day by day. We don't have to blame those that sell their product at a high price, look what they sell fuel now, you can't even go to a fuel station and expect to see fuel buy on time, people are fighting because of fuel, So we don't need to be angry that they sell their products with different price every week because without that, I don't think they will have gain in their businesses. Tinubu is not up to one year and people regret voting for him.

[Majestic-milf]

 I follow wonder wetin FCCPC dey do oh. Presently, the price of fuel for my area dey climb almost #800 and before you see am sef nah another thing. Most of these government appointed bodies just dey wan side dey add to the debt of the contri as them no dey any work but them dey collect moni.
No even start for the naira/dollar mata. I bin think say as the naira don dey appreciate against the dollar, we go see small changes for the market but not so, rather the prices come increase and of this folo for wetin the FCCPC sopoz regulate, then they are sorely failing.
 I no know whom to blame for this mata; whether nah the govt or the masses because if nah the government maybe them dey use this as another political move to take further punish the masses and keep them under their control or if nah the people wey wan use every opportunity to bleed their fellow man.

[Gozie51]

N650 per litres are you kidding me? Man I've been buying at N720 since last month and I'm sure with the Scarcity News they might just increase it to N800 this week. Nigerians like to exploit Nigerians.

The PH refineries is still not operating yet, everything is just politics, we barley know the true stories these days.

Looks like the range is around 600 to N1000 because while I was still in ph, I got it for < N650 but now in akwa ibom, I got it for N1100 last week, it went down to N750 but now looks tobbe stabilizing at N800. It's funny how everyone is buying at this prices and life is going on. A year and few months ago, we were buying the same fuel around 80-85% less than the current pump prices. Like Igebotz said, it's hard to know the true stories these days because even with fuel subsidy gone, economy haven't gotten any better.

Na that suffering and smiling wey baba fela don carry sing far back. Na religion and ethnicity make people for naija no fit get one voice, na the people wey e involve directly dey always suffer because other people go dey sideline dey watch. Our situation for naija na really an unfortunate one as government dey carry our mouth robe ground and nothing go still happen, one government come , do wetin dem like comot and another come also do wetin dem like comot, society keep going down. How deregulation go be like this? Only going up up and price no fit fluctuate come down, na wa oo. Since wey dem say dem don fully comot subsidy and deregulate that sector, Omo na so so increments without no proper reason. Refineries never get to work, some people just carry Nigeria dey do business. Too bad the kind of system we dey.

[Ever-young]

I neva no how man pikin go take survive 4 dis kind contri self. Beans wey poor man dey take manage life,dem don increase the price and since then e no gree com down again. See garri wey we dey take sustain especially when nothing dey houze,you fit just soaked  your garri with water,the price of garri don climb to N100,000 a bag. All diz big men for our contri dey very wicked,as average man come dey manage afford Gotv and star time,dem don rush go increase the price.I say make I go buy meat of 2k for market,come see wetin dem sell for me tears almost comot for my eyes. See eh,i Neva see wetin FCCPC don achieve so far o

I say ehn, if we come dey reason wetin dey happen for this our country, we go just dey die, one after the other, because problem too big but e no big pass our God, na e mk even in the means of all this them, we dey still dey find our way true, at least anyhow e be, we dey try eat even if na once in a day, because the way price of things just dey increase, poor man pikin no fit survive if no be God, since we no dey rich and we no get money, wetin we hold na God because na e dey always come through for us and e no dey disappoint. So anyhow our leaders them won do, make they do, if they like make they fly their family aboard or make sure say them give their families comfortable life, e concern them.