{"id":136222,"date":"2024-10-30T22:20:38","date_gmt":"2024-10-30T21:20:38","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/fccpc-uncovers-cartels-inflating-food-prices-in-nigeria"},"modified":"2024-10-31T00:14:32","modified_gmt":"2024-10-30T23:14:32","slug":"fccpc-uncovers-cartels-inflating-food-prices-in-nigeria","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/fccpc-uncovers-cartels-inflating-food-prices-in-nigeria","title":{"rendered":"FCCPC uncovers cartels inflating food prices in Nigeria"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>The Federal Competition and Consumer Protection Commission, FCCPC, claimed it has uncovered cartels responsible for prices of goods and food manipulation in Nigeria.<\/p>\n<p>The commission\u2019s Executive Vice Chairman, Tunji Bello, disclosed this recently while addressing stakeholders during a one-day engagement on exploitative pricing in Uyo, Akwa Ibom State.<\/p>\n<p>This comes as Bello highlighted how in the poultry sector, influential players are dictating prices, severely impacting smaller producers.<\/p>\n<p>\u201cSmall poultry owners previously sold a day-old chick for between N480 and N590 and still made a profit. However, the entry of two major market players changed that,\u201d he stated, choosing to withhold their names.<\/p>\n<p>\u201cThey operate in a mafia-like manner. If you attempt to negotiate with one, they tip off the others, ensuring uniform pricing,\u201d Bello lamented.<\/p>\n<p>According to him, President Bola Ahmed Tinubu\u2019s administration\u2019s economic interventions, including the removal of tariffs on food imports, value-added tax on pharmaceuticals and medical devices, tax waivers for businesses and public transport, and facilitating easy credit for converting vehicles from petrol to CNG, should have impacted the prices of goods and services.<\/p>\n<p>\u201cIt is only fair that our businessmen and traders share the benefits of these measures with consumers through reduced prices,\u201d Bello stated.<\/p>\n<p>This comes as Nigeria\u2019s inflation increased to 32.70 percent in September, resulting in high cost of living among Nigerians.<\/p>\n<p><strong>For More News And Analysis About Nigeria Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The Federal Competition and Consumer Protection Commission, FCCPC, claimed it has uncovered cartels responsible for prices of goods and food manipulation in Nigeria. The commission\u2019s Executive Vice Chairman, Tunji Bello, disclosed this recently while addressing stakeholders during a one-day engagement on exploitative pricing in Uyo, Akwa Ibom State. This comes as Bello [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":136221,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[7018,254],"class_list":["post-136222","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-fccpc","tag-nigeria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>FCCPC uncovers cartels inflating food prices in Nigeria - Nigeria<\/title>\n<meta name=\"description\" content=\"The Federal Competition and Consumer Protection Commission, FCCPC, claimed it has uncovered cartels responsible for pric ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/fccpc-uncovers-cartels-inflating-food-prices-in-nigeria\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FCCPC uncovers cartels inflating food prices in Nigeria\" \/>\n<meta property=\"og:description\" content=\"The Federal Competition and Consumer Protection Commission, FCCPC, claimed it has uncovered cartels responsible for pric ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/fccpc-uncovers-cartels-inflating-food-prices-in-nigeria\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-30T21:20:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-30T23:14:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/10\/sm_1730314632.032699.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/fccpc-uncovers-cartels-inflating-food-prices-in-nigeria#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/fccpc-uncovers-cartels-inflating-food-prices-in-nigeria\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"FCCPC uncovers cartels inflating food prices in Nigeria\",\"datePublished\":\"2024-10-30T21:20:38+00:00\",\"dateModified\":\"2024-10-30T23:14:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/fccpc-uncovers-cartels-inflating-food-prices-in-nigeria\"},\"wordCount\":241,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/fccpc-uncovers-cartels-inflating-food-prices-in-nigeria#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/10\/sm_1730314632.032699.jpg\",\"keywords\":[\"FCCPC\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/fccpc-uncovers-cartels-inflating-food-prices-in-nigeria#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/fccpc-uncovers-cartels-inflating-food-prices-in-nigeria\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/fccpc-uncovers-cartels-inflating-food-prices-in-nigeria\",\"name\":\"FCCPC uncovers cartels inflating food prices in Nigeria - 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