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FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers - Health (3) - Nairaland

Nairaland Forum / Nairaland / General / Health / FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers (10653 Views)

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Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by KaptainAfrika: 12:37pm On Jun 10, 2020
They would have to show evidence that they bought those goods during the pandemic, and not before. There's no moral justification for increasing prices during a pandemic. The lust for huge profits is responsible for this disgusting act.

GboyegaD:
Whilst it is unfair to hike prices and exploit customers, it night be difficult to find them guilty because they could have bought same product for very high prices since the middlemen in Nigeria is a long one.

More so, it is a case of the market determining prices and for a country with no regulations, do we blame people who take advantage of the failed system?

Rather than waste time, they should appeal to government to put proper regulations in place that would rule both the rich and the poor.
Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by fkj950ax(m): 12:37pm On Jun 10, 2020
sexyking1:
They should also arraign Lie Muhammad and NCDC for saying dey spent 3Billion naira on SMS awareness for corvid19.

Scenario 1
If the networks charge N2/SMS and NCDC sends SMS to 50m phone lines, 5 times in one week over a 4 week period.
That is 2 x 50,000,000 x 5 x 4 = N2,000,000,000 (N2bn)
Scenario 2
If the networks charge N1/SMS and NCDC sends SMS to 50m phone lines, 2 times a day, 7 days a week over a 4 week period.
That is 1 x 50,000,000 x 2 x 7 x 4 = N2,800,000,000 (N2.8bn)

NCC data show that there are 190m active phone lines in Nigeria in April 2020.
The number of phone lines with data subscription is less than the 190m active lines. Hence the choice to use SMS.
The Nigerians in the Rural Areas and the least income-earning brackets don't use smartphones, they don't have social media. These people CALL and send SMS.

We all know they sent more than 5 SMS a week to the phone lines.
We all know they sent to more than 50m phone lines.

The question is couldn't ALL the networks provide the service free?
Would it have been better if NCDC did not send SMS at all?

1 Like

Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by Phayod777: 12:40pm On Jun 10, 2020
As much as I detest this act of 'opportunistic price hiking', I also feel pained that our govt is using a wrong approach.

It is just so disheartening that our govt keeps channeling right actions and positive energies towards the 'wrong' people and not the system they feed from. When are we gonna stop repeating the same mistake? This action doesn't and will not curb future price hiking.

Assuming we have a coordinated central warehouse or store where pharmacies go to purchase or buy their drugs, it will have been the best. Such that, from the central warehouse/store/system, govt regulates price, check for fake and sub standard drugs, easy withdrawal of certain drug in circulation, etc.

But we are actually in a case where nobody cares where and how u get your drugs. Instead, we care so much on how much you sell it. Forgetting that the open, porous and disorder drug distribution system made rooms for everyone and anyone to bring in their drugs to the market and sell at any price or quality they want.

If you gonna kill a tree, u don't kill it by cutting down the branches only. U kill it by destroying d root.

I hope after this court case, the same agency will go to govt and private hospitals that bill drugs exorbitantly.
Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by vanunu: 12:40pm On Jun 10, 2020
Seun:
Is the government now in charge of setting the price of face-masks and sanitizers? If so, what is the price range that they deem acceptable?

It is important for lawmakers and other government officials to understand Economics so they won't be making laws that are totally unreasonable.

This exactly what Buhari did in 1984, introducing price control that destroyed the economy then .

2 Likes

Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by Openbusiness: 12:41pm On Jun 10, 2020
KaptainAfrika:
A man was taken to court in the US for this same action, is the US now a socialist country ?

That can only be a lie! Where's your proof abeg. No time for fake stories here. And another thing is, taken to court doesn't equate to being guilty. Even the US President Trump, as president, has been taken to court many times since he became President. You can never be charged guilty in a USA court for selling goods at your price. Did you force anyone to buy, did you put gun on their head to buy? No! Unless you commit a crime like selling a product prohibited by govt or selling goods on false claims, misrepresentation or fake goods, mehn forgerrit, all business is business for America

1 Like

Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by fkj950ax(m): 12:44pm On Jun 10, 2020
Xisnin:

Because there is a concept and a law against it that makes people feel good doesn't mean it is wrong.
There is business and there is emotion.

So it is right for Commercial Buses to hike the fare when it rains or when traffic is gangster?


You can define anything into existence.

The definition is from Wikipedia and most economic textbook



It is natural that price changes according to demand and supply.
"Fair price" is a meaningless concept unless it is clearly defined which takes us back to communist principles
of setting prices of goods and services. You can't eat your cake and have it.

If there was enough supply, there won't be "price gouging" in the first place.

Suppose I was able to secure a few mask supplies when everyone has run out of them.
If the price during the normal time is #100.
What is the unfair and unreasonable price cut-off point?
#110, #150, #250, #300, #500?

The defendant lawyers would have to be very dumb to lose this case.
Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by KaptainAfrika: 12:51pm On Jun 10, 2020
THANK YOU LORD FOR GOOGLE!. PLEASE CHECK OUT THESE LINKS.

Man sued for price gouging:
1. https://www.bbc.com/news/world-us-canada-51909045
2. https://www.cleveland.com/coronavirus/2020/04/ohio-ag-files-price-gouging-lawsuit-against-chagrin-falls-man-accused-of-hoarding-n95-masks-needed-for-coronavirus-response.html
3. https://www.nytimes.com/2020/03/15/technology/matt-colvin-hand-sanitizer-donation.html

Relevant US Laws concerning Price Gouging:
1. https://en.wikipedia.org/wiki/Price_gouging#:~:text=United%20States,have%20laws%20against%20price%2Dgouging.
2. https://uspirg.org/feature/usf/how-identify-and-report-price-gouging
3. https://www.jdsupra.com/legalnews/united-states-issues-in-price-gouging-52059/

Openbusiness:

That can only be a lie! Where's your proof abeg. No time for fake stories here. And another thing is, taken to court doesn't equate to being guilty. Even the US President Trump, as president, has been taken to court many times since he became President. You can never be charged guilty in a USA court for selling goods at your price. Did you force anyone to buy, did you put gun on their head to buy? No! Unless you commit a crime like selling a product prohibited by govt or selling goods on false claims, misrepresentation or fake goods, mehn forgerrit, all business is business for America
Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by Xisnin(m): 12:55pm On Jun 10, 2020
fkj950ax:

So it is right for Commercial Buses to hike the fare when it rains or when traffic is gangster?

Yes, it is.
It is even more ridiculous that some people want the government to reduce cable TV subscription
because the "price is too high".
People who wants price-fixing should set-up their own company or move to North Korea.


The definition is from Wikipedia and most economic textbook
The source does not matter.
Defining a concept doesn't impose a moralistic value upon it.

The market should be allowed to regulate itself.
Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by feejay70: 1:24pm On Jun 10, 2020
This is nigeria
Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by LabDNA: 1:33pm On Jun 10, 2020
If their lawyers actually earned their law degrees, this matter is not matter that should last more than 6 months in court.

Demand and supply drive prices in a capitalist economy. The prices of these goods were inflated everywhere in the world, what some governments did was to incentivize people to manufacture these goods and then sell to the public at subsidized rate.

That's what a working government does. Not using canes, horsewhips to threaten people to sell products and services at the cost that you want like buhari did in his 1984 military regime.

I have the right to determine the worth of my goods and services after expending physical and intellectual resources to produce same.

Afterall some lawyers charge N200,000 for a court case while another lawyer will charge you 2 billion naira for the same court matter, who regulates the prices of the services of these lawyers?

Why haven't the courts jailed these lawyers for inflating prices of their service consumed by litigants.

FCCPC or whatever they are called should go and arrest lawyers and charge them for inflation of price for legal services if they are not clout-seeking charlatans.

If I were the accused I won't appear in court, let FCCPC go and keep wasting state resources chasing shadows.
Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by Openbusiness: 1:39pm On Jun 10, 2020
KaptainAfrika:
THANK YOU LORD FOR GOOGLE!. PLEASE CHECK OUT THESE LINKS.

Man sued for price gouging:
1. https://www.bbc.com/news/world-us-canada-51909045
2. https://www.cleveland.com/coronavirus/2020/04/ohio-ag-files-price-gouging-lawsuit-against-chagrin-falls-man-accused-of-hoarding-n95-masks-needed-for-coronavirus-response.html
3. https://www.nytimes.com/2020/03/15/technology/matt-colvin-hand-sanitizer-donation.html

Relevant US Laws concerning Price Gouging:
1. https://en.wikipedia.org/wiki/Price_gouging#:~:text=United%20States,have%20laws%20against%20price%2Dgouging.
2. https://uspirg.org/feature/usf/how-identify-and-report-price-gouging
3. https://www.jdsupra.com/legalnews/united-states-issues-in-price-gouging-52059/

Oga in America anybody can sue anybody for anything at any time to court. Abeg show me proof of conviction by the court. There can never be a conviction. And the reason why this man's case was taken up is because he bought all the sanitizers in all the supermarkets in Tennessee, so he was the only person left that had sanitizer to sell. So indirectly or directly people in his area didn't have a choice or alternative, so he created a monopoly of sales for himself with unfair advantage, and this will be where his fault lies, not the price of his goods, and US Govt always has laws against monopoly, because capitalism is against monopoly, socialism favors monopoly.
Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by khen10: 1:42pm On Jun 10, 2020
God bless your wisdom bro, you are smart!
Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by ionsman: 1:48pm On Jun 10, 2020
Before reading I already said H-medix in my mind and immediately I opened, I saw H-medix. Those people are criminals!
Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by KaptainAfrika: 1:54pm On Jun 10, 2020
Look at how you are shifting the goal post mid-match.

1. You can't take a person to court, out of thin air without a law backing the lawsuit. The lawsuit is based on the law.

2. Looking at your initial post, you call the government "bloody terrorist government", yet you are supporting the businesses that are taking advantage of a pandemic to increase their prices ?! (Wonderful !) You will be the first to call for their heads when your favorite brand's prices are suddenly hiked up to price levels that you can't afford because there is a monopoly in the selling of such a brand. You will love capitalism until you when you suddenly can't afford things and that is why the Government steps in to regulate the market, to prevent monopolies and price gouging.

3. Monopoly encourages price gouging, and for the US to have laws against Monopolies, it means that the US does not view price gouging favorably, hence the lawsuits - THE US MAN IS NOT BEING SUED FOR BEING A MONOPOLY BUT FOR PRICE GOUGING.

4. The End.

Openbusiness:

Oga in America anybody can sue anybody for anything at any time to court. Abeg show me proof of conviction by the court. There can never be a conviction. And the reason why this man's case was taken up is because he bought all the sanitizers in all the supermarkets in Tennessee, so he was the only person left that had sanitizer to sell. So indirectly or directly people in his area didn't have a choice or alternative, so he created a monopoly of sales for himself with unfair advantage, and this will be where his fault lies, not the price of his goods, and US Govt always has laws against monopoly, because capitalism is against monopoly, socialism favors monopoly.
Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by madamori9: 2:20pm On Jun 10, 2020
Openbusiness:

Crime how? It can never be a crime in a capitalist economy, which is what Nigeria is. It can only be a crime to a terrorist socialist government which this wicked government behaves like. That's 50 Cent hand sanitizer below, just 163ml only, costs about N3,200. So if I buy and import it, pay shipping, pay clearing, and this same useless government will still collect duty tax on it, and then I put it for sale at N12k, so this useless agency will now say they want to prosecute kwa? Thunder fire all una

Price gouging is a crime all over the world. About a month ago, some men were arrested in United States. Note: US is a better capitalist system than Nigeria. Nigeria is a mix of capitalism and socialism. Well, if only you read the way you type, you would be more informed.
Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by Seun(m): 2:49pm On Jun 10, 2020
Price gouging laws are mostly stupid. If something is really expensive and you try to restrict the price, it will disappear from the market. I want to be able to buy face-masks anytime I need them even if they are expensive. I don't want to die of Coronavirus because the FCCPC is flexing.

madamori9:
Price gouging is a crime all over the world. About a month ago, some men were arrested in United States
Cynical officials do things that make no sense to win the support of the uninformed everywhere. How do you determine the acceptable price?

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Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by dammy222(f): 2:54pm On Jun 10, 2020
Xisnin:
Frivolous suit.
Businesses are free to set whatever price they want.

We are not in a communist state.
Prices should be regulated as is being seen in other countries. Some businesses charge very high prices, they need to be checkmated.
Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by Xisnin(m): 3:14pm On Jun 10, 2020
dammy222:

Prices should be regulated as is being seen in other countries. Some businesses charge very high prices, they need to be checkmated.
Prices should never be regulated.
Countries that regulate the prices of goods and services will end up in poverty in the long-run.


There is no such thing as "very high prices".
If you don't like it, don't buy it.
Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by edoairways: 3:35pm On Jun 10, 2020
Futuragetty:
Haha. thought we have a free market economy. Did the supermarket force anybody to buy their products?
Whoever instituted this law suit is Wasting the time of the court and resources of the state and should pat for cost.
There was never a free market,it only exist on textbooks.
Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by GboyegaD(m): 4:10pm On Jun 10, 2020
KaptainAfrika:
They would have to show evidence that they bought those goods during the pandemic, and not before. There's no moral justification for increasing prices during a pandemic. The lust for huge profits is responsible for this disgusting act.


My brother, when the head is not functional, do you think the other parts of the body would function properly?
Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by Kaycee9242(m): 4:19pm On Jun 10, 2020
Slawormir:
Damnnnnn niggarrr
Perfect
Nigerians always take advantage and capitalize on a situation to enrich themselves
We always criticize our leaders for embezzlement whereas we are the worse

Let me tell you all a secret
We are not actually angry about corruption in Nigeria
We are just angry because we are not the one carrying out the corruption

u nailed it bro, ur comments are always straight like cigar
Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by jayne8585yahoo(f): 8:01am On Jun 11, 2020
airminem:
sad Everyone poops. Its simply a fact of life.
One day the bush meat go catch the hunter. grin Igbo amaka is always their nightmare. Names check..... No fulani listed
You are a fool! A dullard H medix and Bakangizo are own by Hausas
Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by Seun(m): 10:09am On Jun 11, 2020
KaptainAfrika:
THANK YOU LORD FOR GOOGLE!. PLEASE CHECK OUT THESE LINKS.

Man sued for price gouging:
1. https://www.bbc.com/news/world-us-canada-51909045
2. https://www.cleveland.com/coronavirus/2020/04/ohio-ag-files-price-gouging-lawsuit-against-chagrin-falls-man-accused-of-hoarding-n95-masks-needed-for-coronavirus-response.html
3. https://www.nytimes.com/2020/03/15/technology/matt-colvin-hand-sanitizer-donation.html

Relevant US Laws concerning Price Gouging:
1. https://en.wikipedia.org/wiki/Price_gouging#:~:text=United%20States,have%20laws%20against%20price%2Dgouging.
2. https://uspirg.org/feature/usf/how-identify-and-report-price-gouging
3. https://www.jdsupra.com/legalnews/united-states-issues-in-price-gouging-52059/
One of the lessons of the COVID-19 crisis is the understanding that the US government does many stupid things too; so this means nothing.

2 Likes 6 Shares

Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by CodeTemplar: 10:18am On Jun 11, 2020
Seun:

One of the lessons of the COVID-19 crisis is the understanding that the US government does many stupid things too; so this means nothing.
Price gouging is bad o.

Garri has gone up more than 100%, yet cassava flour didn't move a inch but both use cassava as raw material. That alone has doubled the harshness of the pandemic on a garri-dependent poor man.

Even market people aren't left out, just few days ago we saw a thread about how onion sellers regulate prices in the market. That's a form of gouging too and bad. It is a little bit like OPEC and oil.
Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by SaintBeehot(m): 12:02pm On Jun 11, 2020
Seun:

One of the lessons of the COVID-19 crisis is the understanding that the US government does many stupid things too; so this means nothing.
can you mention few please, and before say i'd you like to let you know your country is nothing to write home about.
Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by airminem(f): 6:28pm On Jun 11, 2020
If you were a lip gloss flavour, what would you be and why? Give yourself a flavalicious name! Instead of acting like a female dog farm tool grin
jayne8585yahoo:

You are a fool! A dullard H medix and Bakangizo are own by Hausas
Re: FCCPC To Arraign Supermarkets, Pharmacies For Inflating Prices Of Sanitisers by madamori9: 9:26pm On Jun 11, 2020
Seun:
... How do you determine the acceptable price?

Normally, demand and supply determines the prices of goods. Demand pull inflation isn’t unethical.

But deliberately hoarding products to create scarcity is simply inhuman, especially when these products are necessity goods and not luxury items.

Putting a price ceiling would only lead to product extinction if producers can’t break even. But this isn’t the case. The cost of producing these items cannot justify the sporadic increase.

There’s a difference between profiting from a disaster and profiting in a disaster.

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