The Federal Competition and Consumer Protection Council (FCCPC) has pledged to target participants in the informal sector to prevent consumer exploitation through price fixing.
Alhaji Adamu Abdullahi, the acting Executive Vice Chairman of the commission, highlighted the government’s recent interventions, which have decreased commodity prices. He cited rice as an example, noting that it now sells for less than N60,000.
Abdullahi, speaking on NTA’s Good Morning Nigeria show, emphasized that the FCCPC has jurisdiction over all sectors of the economy as the government’s statutory agency responsible for safeguarding consumer rights.
He revealed that the commission recently visited various markets nationwide to urge traders to reduce the prices of their goods. Additionally, Abdullahi mentioned that the FCCPC has entered into a Memorandum of Understanding with the Lagos Consumer Protection Agency (LASCOPA) to combat price fixing in major markets within the state.
