The Federal Competition and Consumer Protection Commission (FCCPC) has issued a stern warning to businesses involved in price fixing, highlighting the detrimental effects such practices have on consumers and the economy.
In a statement addressed to journalists, the FCCPC reiterated its commitment to safeguarding consumers’ interests and ensuring fair market practices. The commission emphasized the rising costs of essential goods and the need to prevent arbitrary price increases resulting from practices like price gouging and supply manipulation.
While acknowledging its limited ability to directly control prices, the FCCPC affirmed its dedication to enforcing Section 17(s) of the Federal Competition and Consumer Protection Act (FCCPA) 2018. This section prohibits obnoxious trade practices and unscrupulous exploitation of consumers, with the commission prepared to take action against perpetrators.
Nigerians were urged to remain vigilant and report any unfair trade practices they encounter. The FCCPC encouraged citizens to provide detailed information, including the conduct, location of perpetrators, and relevant evidence for investigation, to contact@fccpc.gov.ng.
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Emphasizing its commitment to promoting fair competition and protecting consumers, the FCCPC expressed gratitude for citizens’ vigilance and encouraged active participation in reporting violations.
The warning comes in the wake of recent reports of discriminatory actions against a passenger with reduced mobility at a KFC outlet in the Murtala Muhammed International Airport, Lagos. In response, the FCCPC pledged to collaborate with relevant authorities to ensure appropriate redress for the affected consumer and hold the KFC outlet accountable. The commission commended the Federal Airports Authority of Nigeria for taking swift action by temporarily shutting down the outlet and directing it to issue a written apology to the aggrieved individual.
