Tag: Price Bands

FG gives traders one month deadline to crash prices of goods nationwide

Aminu Imam
FG deadline

The Federal Government, through the Federal Competition and Consumer Protection Commission (FCCPC), has issued a one-month ultimatum to traders and market stakeholders to slash prices of goods and services nationwide. Executive Vice-Chairman of the Commission, Tunji Bello, made the announcement at a stakeholders’ engagement in Abuja, warning that enforcement actions will follow after the moratorium. Bello cited examples of exorbitant pricing, including a fruit blender priced at $89 in the US but sold for N944,999 in Lagos. According to him, such practices threaten the economy and urged stakeholders to cooperate,…

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Petrol: FG officially begins full deregulation, as PPPRA jettison price bands

Ishaku Yohanna

…Says price to be determined by forces of demand and supply The Muhammadu Buhari-led Federal Government is no more going to be releasing guiding price bands for the sale of Premium Motor Spirit, popularly called petrol, at filling stations. It disclosed this in Abuja through the Petroleum Products Pricing Regulatory Agency, adding that based on this, the downstream arm of the oil and gas sector had been fully deregulated. Responding to questions from journalists during a briefing at the headquarters of PPPRA, the agency’s Executive Secretary, Abdulkadir Saidu, stated that…

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