The Federal Competition and Consumer Protection Commission (FCCPC) has inaugurated a Joint Market Monitoring Task Force (JMMT) to enforce compliance with product standards and pricing regulations in Nigerian markets.

The inauguration, held in Abuja, was described as a strategic move by the Commission to strengthen consumer protection and improve competitiveness within the Nigerian market.

Speaking during the ceremony, Executive Vice Chairman of the Commission, Tunji Bello, represented by Mrs. Boladale Adeyinka, Director of Surveillance and Investigations, lamented the widespread circulation of counterfeit and substandard products in the country.

“It is no news that our markets are flooded with fake, counterfeit, and substandard consumer products that are either unfit for their intended purposes or outrightly unsafe for consumption. At a time when both consumers and businesses are facing economic pressures, ensuring value for money has become critically important,” Bello stated.

He explained that Section 17 of the Federal Competition and Consumer Protection Act (FCCPA) mandates the Commission to eliminate unsafe products and unethical business practices from the market. These include deceptive marketing, anti-competitive behavior, and practices that significantly hinder market fairness.

Bello emphasized that the Commission prioritizes collaboration with key stakeholders, including market unions and regulatory bodies, to ensure successful enforcement.

“Effective market monitoring cannot happen in isolation. We must work hand-in-hand with regulators, market executives, and union leaders to clean up and strengthen our markets,” he said.

As part of the initiative, the FCCPC inaugurated four JMMT teams covering Wuse, Utako, Garki International Market, and Garki Modern Market within the Federal Capital Territory. This marks Phase One of the market monitoring operations, which will eventually extend to markets nationwide.

The Commission also disclosed that the terms of reference guiding the JMMT’s operations have been clearly communicated to all members, who have pledged their commitment to the Commission’s goals.

Bello called on the public to support the initiative by reporting violations through FCCPC’s email, hotlines, complaint portal, or social media platforms.

“We solicit the cooperation of the general public in providing credible information, intelligence, or alerts on any breaches of consumer protection laws,” he added.

The move is part of FCCPC’s broader strategy to ensure a safer marketplace for Nigerian consumers and a level playing field for businesses.