In a move aimed at curbing exploitative pricing practices, the Federal Competition and Consumer Protection Commission (FCCPC) will soon engage with market leaders and stakeholders across Nigeria. This initiative seeks to address concerns over disproportionate pricing of both imported and locally produced goods, exacerbated by the current exchange rate fluctuations.
The FCCPC has observed that many market associations are involved in price fixing, leading to excessive charges for consumers. To combat this, the Commission plans to collaborate with market leaders to establish fair pricing practices that balance trader margins with consumer protection.
As part of its efforts, the FCCPC has also mandated that supermarkets display product prices clearly on shelves to enhance transparency and prevent hidden costs at checkout.
This initiative aligns with President Bola Ahmed Tinubu’s renewed hope agenda, reinforcing the Commission’s commitment to protecting Nigerian consumers and fostering a fair market environment.
For further details, contact:
Mr. Tunji Bello
Executive Vice Chairman/CEO
08056002020 | 08056003030
contact@fccpc.gov.ng
www.fccpc.gov.ng
@fccpcnigeria