MARITIME

FCCPC Signs MoU With Shippers’ Council On Fair Competition

 

The Chief Executive Officer of the Federal Competition and Consumer Protection Commission (FCCPC), Babatunde Irukera, has revealed that the Commission has signed a Memorandum of Understanding (MOU) with the Nigerian Shippers Council (NSC) to ensure fair competition among operators in the industry.

Mr. Irukera made this known at a ceremony held in Abuja on Thursday. He said the FCCPC and NSC are partners in making sure that the market operates robustly and consumers are treated fairly, according to the News Agency of Nigeria.

According to the FCCPC boss, when consumers are treated fairly, they tend to patronise over and over again due to the satisfaction derived from the products purchased.

The FCCPC boss noted that consumption is as much about pricing as it is with disposable income and with satisfaction.

“People are likely to purchase again if they are satisfied and if there is enough money to purchase again, so we are partners in making sure that consumers are treated fairly.

“We share the view that shippers are entitled to fair recompense for the work and service they provide and by the same token, they share the view that the interim payers or the ultimate payers for the service they provide are also entitled to a fair value for money proposition.

“Our work is to find that balance, make sure commerce increases and ensure there are no bottlenecks to commerce.

“We will also ensure that those in the business themselves are not bottlenecks to fairness to the citizens of this country,” the FCCPC boss said.

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The Executive Secretary of the NSC, Mr Emmanuel Jime, described the industry as a very sensitive sector of the economy.

Jime said the council was involved in costs’ modulation to the extent that ultimate benefits to the consumers were guaranteed.

“We are sector regulators, we have a common interest and we have to engender a common understanding.

“There is a need to have this kind of partnerships,” Jime said.

NewsBeatng reports that FCCPC had in 2021 executed a judicial search warrant and order of the Federal High Court, to actively investigate potential anti-competitive conducts in the shipping industry.

 

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