The Federal Competition and Consumer Protection Commission (FCCPC) has issued a stern warning to businesses engaging in price fixing, emphasizing the detrimental impact such practices have on consumers’ well-being and economic stability.
The commission declared its commitment to safeguarding consumers’ interests and ensuring fair market practices.
In a statement sent to journalists, the FCCPC highlighted the rising cost of essential goods and its implications for consumers.
While acknowledging its inability to directly control prices, the commission asserted its dedication to preventing arbitrary price increases resulting from practices like price gouging and supply manipulation.
The FCCPC emphasized its readiness to enforce Section 17(s) of the Federal Competition and Consumer Protection Act (FCCPA) 2018 against perpetrators of such acts, which prohibit obnoxious trade practices and unscrupulous exploitation of consumers.
The statement urged Nigerians to remain vigilant and report any unfair trade practices they encounter, providing details such as the conduct, location of perpetrators, and relevant information for an investigation to [email protected].
Reiterating its commitment to promoting fair competition, protecting consumers, and fostering a regulated marketplace, the FCCPC expressed gratitude for citizens’ vigilance and encouraged active participation in reporting violations.
Recall that the FCCPC recently issued a stern rebuke following reports of discriminatory actions against a passenger with reduced mobility at the KFC outlet in the Murtala Muhammed International Airport, Lagos.
In response to the incident, the FCCPC pledged to collaborate with relevant authorities to ensure appropriate redress for the affected consumer and hold the KFC outlet accountable for its actions.
The commission also commended the swift action taken by the Federal Airports Authority of Nigeria in temporarily shutting down the outlet and directing it to issue a written apology to the aggrieved individual.