GOVERANCE

Notify Authorities About Unjustified Price Hikes- FCCPC Tells Nigerians

 

 

The Federal Competition and Consumer Protection Commission (FCCPC) has emphasized its firm stance against businesses involved in price fixing, urging citizens to report instances of price fixing and related misconduct.

In a statement released on its official X platform on Sunday, the FCCPC highlighted the adverse impact such practices have on consumers’ well-being and economic stability.

Recognizing the strain that rising prices of essential goods place on consumers, the FCCPC emphasized its commitment to safeguarding consumers’ interests and promoting fair market practices.

It highlighted the prohibition of arbitrary price increases resulting from practices such as price gouging and supply manipulation under Section 17(s) of the Federal Competition and Consumer Protection Act (FCCPA) 2018.

The commission further urged Nigerians to remain vigilant and report any unfair trade practices they encounter, encouraging consumers to provide detailed information for investigation through contact@fccpc.gov.ng.

FCCPC also reiterated its dedication to fostering fair competition, protecting consumers, and maintaining a regulated marketplace, urging citizens to actively participate in reporting violations.

Furthermore, the FCCPC called upon electricity consumers to report distribution companies that failed to adhere to the capping of estimated bills for unmetered customers, reinforcing its commitment to upholding consumer rights and ensuring accountability within the market.

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