The Federal Competition and Consumer Protection Commission (FCCPC) has emphasized its determination to combat price fixing by businesses.
In a statement shared on its official X handle on Sunday, April 14, the FCCPC underscored its commitment to safeguarding consumers’ interests and ensuring fair market practices, particularly regarding pricing.
“While the commission cannot directly control prices, we are committed to protecting consumers from arbitrary price increases resulting from practices like price gouging and supply manipulation,” the statement read.
The FCCPC emphasized its readiness to enforce Section 17(s) of the Federal Competition and Consumer Protection Act (FCCPA) 2018 against any entity found guilty of such practices. This section prohibits unfair trade practices and exploitation of consumers.
The agency urged Nigerians to remain vigilant and report any unfair trade practices they encounter, providing details such as the conduct, location of perpetrators, and other relevant information for investigation, through contact@fccpc.gov.ng.
“The FCCPC remains dedicated to promoting fair competition, safeguarding consumers, and fostering a regulated marketplace. We appreciate citizens’ vigilance and encourage active participation in reporting any violations,” the statement concluded.
