Close Menu
    Facebook X (Twitter) Instagram
    Trending
    • Court Jails Banker One Year For N2.4m Cybercrime In Lagos
    • Port Harcourt Court Jails Two For Internet Fraud
    • Alleged N13.8b Fraud: EFCC Arraigns Ponzi Scheme Director In Port Harcourt
    • Killings: IGP Visits Benue, Commiserates With Govt, Residents
    • Nigeria’s HCSF Engages Industry Ministry On PMS Implementation, Reform Synergy
    • Nigeria Hosts 8th Session Of D-8 Supervisory Committee On Preferential Trade Agreement
    • Alleged $6bn Mambila Project Fraud: Obasanjo Didn’t Approve Contract To Sunrise Power Company-Witness
    • EFCC Chairman, Olukoyede Tasks Varsity Students To Be Heroes Of Anti-Graft Fight
    Facebook X (Twitter) Instagram YouTube
    HumsimediaHumsimedia
    • Home
    • News
      • News Analysis
      • Politics
      • Environment
      • Energy
      • Security
      • Defence
    • Entertainment
    • Business
      • Economy
    • Health
    • Interview
    • Lifestyle
    • Global News
    HumsimediaHumsimedia
    Home»Press Release»FCCPC Takes Action to Address Rising Prices and Protect Consumers
    Press Release

    FCCPC Takes Action to Address Rising Prices and Protect Consumers

    HumsiBy HumsiApril 18, 2024No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The Federal Competition and Consumer Protection Commission (FCCPC) is aware of the concerns expressed by Nigerians regarding the continued rise in prices of goods and services. Despite the recent appreciation of the Naira against the dollar, consumers continue to face escalating costs without a corresponding decrease in prices.

    This situation is unacceptable, and the FCCPC is committed to protecting consumers from exploitation.

    The FCCPC understands the significant financial strain these rising prices are placing on Nigerian households. As a result, the Commission is taking proactive steps to address this issue.

    While the FCCPC cannot directly regulate prices, the Commission will utilise its existing legal framework to enforce fair competition and consumer protection provisions.

    This includes monitoring and investigating unusual price hikes, addressing complaints filed by consumers, and taking action against any businesses found to be engaging in anti-competitive practices such as price-fixing, price gouging or cartel formation.

    The Commission has directed its operatives to intensify monitoring of both formal and informal markets, where businesses may be taking advantage of market conditions to unfairly inflate prices, and ramp up enforcement activities.

    The operatives will be working collaboratively with trade associations, farmer groups, and other stakeholders to identify and remove unnecessary barriers to entry in various sectors, combat price-fixing, and dismantle cartels.

    This will encourage increased competition, ultimately leading to lower prices for consumers.

    The Commission remains committed to educating consumers about their rights and empowering them to make informed choices.

    We will engage in advocacy and public awareness campaigns to raise awareness about price gouging and other unfair trade practices and provide guidance on how to identify and report such practices.

    The FCCPC recognises the importance of working alongside other government agencies to tackle this complex issue.

    We will collaborate with relevant regulatory bodies to develop a comprehensive and coordinated response to anti-competitive practices, price gouging, and other consumer protection issues.

    The FCCPC is committed to ensuring a fair and competitive marketplace for all Nigerians. We encourage consumers to continue reporting suspected price gouging and other unfair trade practices through [email protected].

    Together, we can work towards a more stable, fair, and competitive marketplace for all Nigerians.

    Dr. Adamu Abdullahi
    Ag. Executive Vice Chairman/ Chief Executive Office

    Consumer Protection Dr. Adamu Abdullahi FCCPC
    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    Humsi
    • Website

    Related Posts

    Cancelled Flights: FCCPC Summons Air Peace Over Non-Refund Of Ticket Fares

    June 16, 2025

    FCCPC Inaugurates C’ttee For National Traceability Portal To Combat Counterfeit Products

    June 5, 2025

    Between FCCPC, MultiChoice And Revisionists

    May 16, 2025
    Leave A Reply Cancel Reply

    Recent Posts
    • Court Jails Banker One Year For N2.4m Cybercrime In Lagos
    • Port Harcourt Court Jails Two For Internet Fraud
    • Alleged N13.8b Fraud: EFCC Arraigns Ponzi Scheme Director In Port Harcourt
    • Killings: IGP Visits Benue, Commiserates With Govt, Residents
    • Nigeria’s HCSF Engages Industry Ministry On PMS Implementation, Reform Synergy
    Facebook X (Twitter) Instagram Pinterest
    © 2025 Humsimedia. Designed by Humsi Media.

    Type above and press Enter to search. Press Esc to cancel.

    • americans-involvement-united-states-world-war-i-best
    • proper-hierarchy-leadership-roles-senate-lowest
    • based-turner-lizzie-say-bestconclusion-drawnthey-angered
    • words-contribute-tone-regret-robert-frosts-road-taken
    • read-excerpt-occurrence-owl-creek-bridgeas-pushes-open
    • list-describe-three-different-sleep-disorders-note
    • no-stoppingsign-means-unless-directed-todo-policeman
    • eliminate-x-terms-solve-y-fewest-steps-constants
    • read-excerpt-dark-game-true-spystories-invisible-ink-cia
    • read-excerpt-leslie-marmon-silkos-story-man-send-rain
    • workers-pythagorean-construction-company-building-new
    • probability-buying-movie-ticket-popcorn-coupon-0608-buy
    • members-socialist-party-america-believed-thegovernment
    • sum-two-complex-numbers-real-numbers-equal-zero-results
    • read-dialogue-nurse-lady-capulet-inact-i-scene-iv-romeo
    • usury-occurmultiple-choicewhen-interest-rate-exceeds
    • paris-peace-conference-france-demanded-land-border
    • read-excerpt-majors-speech-chapter-1-ofanimal-farmfix
    • addition-ensuring-transportation-people-products-workers
    • read-excerpt-act-ii-scene-vi-romeo-andjulietfriar