Jan. 9, 2024
Immediate past Executive Vice Chairman/Chief Executive Officer of the Federal Competition and Consumer Protection Commission, (FCCPC), Babatunde Irukera has said that he’s leaving behind a strong institutional advocate in the Commission.
Irukera said this via a post on the social media platform, X, formerly Twitter, in reaction to the recent sack of Chief Executive Officers of the FCCPC and the Bureau of Public Enterprises by the President, Bola Ahmed Tinubu on Monday.
Having served as the Director General in the then Consumer Protection Council, since May 2017, and later renamed as the Federal Competition and Consumer Protection Commission, Irukera said he was grateful for the opportunity to have served the Nigerian consumer.
“Grateful for the opportunity to have served the incredibly vibrant and loyal Nigerian citizens/consumers. They deserve a better deal. I leave behind a strong institutional advocate in the FCCPC and an outstanding team of soldiers who work there daily for the cause of fair markets.”
According to the FCCPC, a staff of the FCCPC who spoke with Humsimedia Online said that the Commission would greatly miss the caliber of leader that Babatunde Irukera had been, his transparency and what he achieved within the given time.
The FCCPC staff said that Irukera took bold and daring steps, made far-reaching decisions and achieved much in the Commission’s mandate to protect the consuming public from unfair practices.
Irukera’s ability to bring to their knees, the otherwise powerful local and international companies infringing on consumer rights and make them accountable was seen as a feat never achieved before him at the FCCPC.
At a strategic media engagement in Abuja in December, Babatunde Irukera enlightened his audience on how at the helm of affairs in the FCCPC, he had turned around the fortunes of the the Commission from dependent on government subvention to a self funding Agency.
In the Year 2023, the FCCPC generated over N56 billion, where 90 percent of the Internally Generated Revenue (IGR) was obtained through payment of penalties by defaulting companies in the country.
He said that the FCCPC remitted N22.4billion to the federal government.
This is what the EVC said concerning revenue generation and enforcement in the Commission:
“In 2023, our internally generated revenue is already N56bn and we have remitted to the government N22.4 billion and for me what this demonstrates is the real possibility for our country. Our possibilities are absolutely limitless.
“We don’t approve a single product, we don’t take fees for registration of anything nor support or sponsorship from companies.
“All our revenue, at least 90 percent is from penalties. We believe that the market should be unlocked and business should be allowed to operate well and should thrive.
“But we also believe in consequence and businesses must be held accountable, if we don’t hold people accountable, we can’t promote good behavior.
“Prior to 2017, the FCCPC had a budget of N1bn from the Federal Government, of this amount, N511 million was personal cost and salaries of 240 employees at the time.
“What was released was N796 million. Our internally generated revenue was N154 million.
“By 2019, the budget of the agency went back from N3.3bn down to N1.3 billion. Out of that, 518 million was personnel cost.
“In that year, when we started the reforms, the agency made a total Internally generated revenue of N377 million, which was unprecedented as the highest at the time. But we were growing the agency as best as we could.
