What has the FCCPC achieved?

[Charles-Tim]

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.

[Cryptoprincess101]

This is even the reason I stopped listening to Nigerian news because what is the essence of listening to a news and later they do otherwise or refuse to do what they preach. There is no agency in this country that has not been compromised one way or the other and I don't even know if we have a ministry of industry, trade and investment in this country because situations like this is where they are required to play important roles.

For me let the naira keep on rising if they don't want to reduce the price of things in the country because na all of us go suffer am together na, if you get garri dey sell am for high price athink you go need to go market go buy things wey you go take make soup chop your garri, the same way you take sell your garri na so you go take buy things wey you go take make soup so wayo no dey am at all.

If no be say people reduce to dey chop indomie and rice then for no even reduce the price because as them dey experience low patronage naim make them reduce the prices if not their mind hard like rock. Make Dem still continue to dey manipulate the naira anyhow Dem like na the common man naim I dey pity because all this things no dey touch rich men at all because Dem no dey experience hardship but make Dem know say all this things wey dem dey do na to endanger the country because the rate of crime go increase and people no go dey obey law and order for the country which is very bad because what will a lawless country become?  Ground of hoodlums, criminals, fraudsters, scammers, kidnapping and even fights for survival. This matter don tire person like this o

[Orpichukwu]

Fuel prices seem to vary based on which filling station you buy from. Today I just bought gas at 680 per litre and refilled gas at an average price of 1280 per kg.
 
The price of things is still getting worse every day; today you might see it come down, and the next day you will see it go up again.
 
Sometimes 2-3 weeks ago I bought the small indomitable chicken flavour at 7500 due to the price they said they had reduced, but today I bought 1 carton at 8500, which is a 1000 difference in an interval of weeks.

[Cossyblack]

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

[adultcrypto]

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.

The issue of price control is more less a helpless one because the problem is multifaceted and even government have a fair share of the blame. Government over the years have made policies that created monopoly in some sectors which is against the principle of fair competition. Till date, just few individuals have license to produce salt, sugar and even cement and to secure such license, you need very high political connection. How will the forces of demand and supply drive the market when there is already monopoly. On the aspect of refined product, we should never expect to see the prices low because Dangote is just a front man for the high and mighty of this country, they are there to make money off Nigerians and they do not care about anyone. I was talking with someone today that the scarcity we are seeing now is just to manipulate the price ahead of the time their product will hit the market. They might be planning to shift the price higher so that when they fix their price at the current market price, we will thank and praise them. As for the AGO price crash, give it time and see that it will just turn out to be another Dangote cement scheme playing out. Lower the price to kick everyone out of the business and then gradually increase the price through the power of monopoly. 

[Spaceman1000$]

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.

I think the major reason the prices of local products are still high is because of transportation, by the time this traders go to the rural areas to buy this product and transport them at a very high transportation fee,  they add that to the price of the goods they are selling.  Imagine transporting trailer loads of fresh tomato from the North to south with over a thousand Naira for a litre of diesel.

As for the port Harcourt refinery it is not going to function anytime soon, I think whatever they are saying about the refinery coming into full operation is just to play to the gallery, the refinery needs total overhauling and the federal Government has not invested the required amount to make it come into full operation. however there is still foul play considering that the federal Government is still paying fuel subsidy and  to corner some money to their  pocket, because they are still paying the independent marketers who bring this product from overseas.

As for the federal government agency that has been deployed to checkmate the activities of traders, I feel for them to get significant result for this actions they've been taken so far, it's for their regional branches those in the state government and local government to go into the markets to implement and checkmate some of these excesses of traders. in doing that, people will start seeing result.

[CryptoHeadlineNews]

And the sad part is that not only have the price of goods, fuel, gas and e.t.c increased rapidly in the past few weeks, but of recent, I'm sure we all saw the news about Multi Choice (i.e Dstv & Gotv) monthly subscription price been hike, while claiming that the high cost of electricity, generator operations and poor access to dollars were the reason for it's increase of it's current monthly subscription, of which this has made me to ask myself, what have we done to deserve all these. But however, I'm happy "Federal Competition and Consumer Protection Commission (FCCPC)," a body which has never been fully functioning has now been seen trying it's best to regulate the price of good and services. Of which if only politics influence and Godfatherism could allow this people do their job, we are likely to see great results.

However, if the price of fuel, cooking gas and diesel comes down, them there is a high tendency the price of goods and services will immediately follow sort

[promise444c5]

Well, I won't  put the blame completely  on the retailers but they are part of the chain structure   rather the main blames goes to mainly the Manufacturers and the wholesalers, the middle mens have a less say in this,the government  play their games completely  in a different  view .
At the end, the least of the chain structure (Consumers) suffers everything  with nothing  done so to me I see no use of the org, agency of what ever they call themselves . Besides,I think too much of these bodies affects us generally ..

[letteredhub]

FCCPC to my to my reasoning only made a joke of itself as an agency, you can't imagine that after the parade to selected supermarkets in city's like Port Harcourt, Lagos and Abuja yet nothing of a price reduction took effect on commodities in the market which goes to say there is more that meets the eyes than what we are allowed to know about the very true cause of the rise of goods in the market that not even the government agency could make impact in forcing marketers to fall back to former price or at least to a reduced price .

Right now am buying a litre of fuel for #750, gas for #1300 per kg and I don't want to talk about how a basin of garri moved from #13k to #18k per basin in just a few days interval. Where is Naija economy actually heading to?  Is this government really responding to their responsibility as Thomos Hobbes had stated in his social contract theory?

[Stepstowealth]

FCCPC to my to my reasoning only made a joke of itself as an agency, you can't imagine that after the parade to selected supermarkets in city's like Port Harcourt, Lagos and Abuja yet nothing of a price reduction took effect on commodities in the market

Mass action would have created more effects that is if they visited a lot of supermarkets in all the states of the country almost at the same time but what they succeeded in doing is that they succeeded in creating panic in the market and forcing some supermarkets to raise the prices of their goods quickly so that they can quickly make profit before they are visited by this new agency of the government. Things cost oooo, even electricity dun cost more, prepaid meter dey turn fast fast, DSTV just dey rip us!!!

[Coyster]

E get many factors wey dey contribute to the high cost of goods/commodities in Naija, no be only value of our Naira against the dollar. The removal of fuel subsidy and resultant high cost of fuel is also a factor wey we suppose consider, businesses must transport their goods before it gets to the final consumer, so the high cost of fuel also contributes to the hike in prices of goods in the market.

Just Indomie and rice price that I know decreased in price among the consumable products. Almost all other products prices are still high.

I hear say the prices of electronic gadgets also fell too, i no know if na true because i no get need of such now, so i cannot verify.

[AVE5]

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.

[Churchillvv]

I don't know what lens you all view the country from but from my own point every single decision and actions that has to do with the Federal government of Nigeria is not a mere decision like other countries, it's all a manipulative decision, in one way or the other it's an action that will favour those who are in charge of the means of production and distribution of the country.

FCCPC from a clear perception has not really achieved any tangible thing since they began their actions in the capital state but believe it or not it's a manipulation that has made the right actions not to take place, the corruption is rooted deeply that no single staff among the FCCPC who is not interested in bribe, if they take the action in three places, the forth will be skipped either because they have settled the illegal way which we know.

Additionally, I don't know why y'all keep getting upset with the way the economy is going when we all know the the politics of Nigeria is being played to favour some people only, which is also a key factor that has made the FCCPC actions not to show because it's just a means of distraction that was strategized to remove our attention from the governing body. They try to make every thing seem not their fault but the poor masses fault, in the terms of one great philosopher this country and it's economy is in a state of crinkum-crankum. They twist every single thing that happens in the country but instead of building the economy to stability they rather die than do it.

One thing we don't perceive from a political sense is that it will require almost 80% of all the stolen national budget money to build the country back to stability which means that all politicians who stolen from the country will have to remit 80% of their self acclaimed wealth back to the economy and debts will be settled things will flow in the right sense and this will not happen because no man on earth will surrender what they have stolen from the poor masses this is where the action that was took in Ghana will have to take place in Nigeria to clean the mess.

In the end I will just have to let the country and it's economy be till when the due time is come then actions will take place against the cartels and calibers of people who derive joy the suffering of the masses.

[Cryptomultiplier]

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.

Funny enough is the fact that the price of things in this country can never be same after such a situation of price increment. Now that the pump price of PMS has increased, and the NNPC still claims that there's still enough product in store, we are seeing hoarding of product by many petrol stations and this has done nothing much to aid the current situation of the country. Instead, it has made transportation more expensive and marketers have had to increase or keeping their prices to be fixed in order to meet up.

[Charles-Tim]

E get many factors wey dey contribute to the high cost of goods/commodities in Naija, no be only value of our Naira against the dollar. The removal of fuel subsidy and resultant high cost of fuel is also a factor wey we suppose consider, businesses must transport their goods before it gets to the final consumer, so the high cost of fuel also contributes to the hike in prices of goods in the market.

Petrol did not went up in price since many months ago. Even as naira depreciation continued in the past months, no increase in petrol price. Diesel that was sold at 1900 naira per liters is now not much more than 1000 naira per liters. Read what Temitope Ashiwaju said that I quoted in the OP. Local products supposed to have fallen than this but deflation is not easy to achieve, what government did not know but manipulating prices.

I hear say the prices of electronic gadgets also fell too, i no know if na true because i no get need of such now, so i cannot verify.

That is true. Foreign products are subjected to USD/NGN price, unlike local products. That is why we are not referring to electronics and other foreign products that reduced immediately as naira value was increasing.

Also it is worth knowing that we consume local products than foreign ones. It has been long that I bought electronics but I buy food daily.

[Jaycoinz]

Fuel prices seem to vary based on which filling station you buy from. Today I just bought gas at 680 per litre and refilled gas at an average price of 1280 per kg.
 
The price of things is still getting worse every day; today you might see it come down, and the next day you will see it go up again.
 
Sometimes 2-3 weeks ago I bought the small indomitable chicken flavour at 7500 due to the price they said they had reduced, but today I bought 1 carton at 8500, which is a 1000 difference in an interval of weeks.

The price of things Is now like the cryptocurrency market where nothing is ever certain as the whole market is volatile and no one can get the correct price rate, and this is exactly what is happening to the price of commodity in Nigeria, one minute you will buy at a low price and the other minute the price has gone way up which is what have been causing crazy economic decline in the country.

[Coyster]

Petrol did not went up in price since many months ago.

I know that the price of fuel didn't increase recently, but it does not mean that the price of fuel is cheap. For my side the cost of fuel na N700/ltr and that is really high. Wetin me i dey talk be say transportation dey very important to the economy and to businesses, thus if businesses dey pay almost three times of wetin dem dey pay before in order to get their goods to the final consumer, then na normal thing say e go cause an increase in the price of commodities, so it is another factor to consider when we dey talk about the high cost of goods and services.

[Charles-Tim]

I know that the price of fuel didn't increase recently, but it does not mean that the price of fuel is cheap. For my side the cost of fuel na N700/ltr and that is really high. Wetin me i dey talk be say transportation dey very important to the economy and to businesses, thus if businesses dey pay almost three times of wetin dem dey pay before in order to get their goods to the final consumer, then na normal thing say e go cause an increase in the price of commodities, so it is another factor to consider when we dey talk about the high cost of goods and services.

When fuel subsidy was removed, the price of goods and services increased. But the recent (this year) inflation in the country is not about the price of petrol. People attributed it to naira devaluation and increase in diesel price which I see valid. They all know that the inflation caused by increase in petrol price has happened many months ago and not the cause this year. The price of naira went up and diesel price went down which are reversal of what were causing inflation. Which means local products prices supposed to have decreased.

Why is Indomie price decreased? Indomie price significantly decreased. This is what Temitope Ashiwaju, the company’s Group Corporate Communications and Event Manager said about the fall in price of Indomie:

“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.

[Igebotz]

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.

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.

[Charles-Tim]

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.