• Says FCCPC recovered N10b through consumer complaints
• Urges citizens to stop grumbling, report violations

The Federal Government yesterday said it was closely monitoring commodity prices across the country following the ongoing crisis in the Middle East.

It said the action aimed at ensuring that businesses did not exploit the situation to impose unjustified price increases on Nigerian consumers.

The Executive Vice Chairman and Chief Executive Officer of the Federal Competition and Consumer Protection Commission (FCCPC), Tunji Bello, who stated this, said the commission had activated a nationwide monitoring process to track pricing patterns across critical sectors of the economy.

According to him, the commission is keeping a close watch on developments in the domestic market to ensure that the international crisis does not become an excuse for arbitrary or coordinated price hikes.

The FCCPC chief disclosed this during a media interaction with journalists at the Presidential Villa in Abuja, where he appeared alongside senior officials of the commission.

According to him, the FCCPC currently considers the emerging pricing adjustments as temporary market reactions but warned that the commission would not tolerate any deliberate attempt by businesses to take advantage of the situation.

“Our monitors are already out there monitoring developments. We are observing the situation closely to ensure that no one takes undue advantage of the circumstances,” he added.

Bello further disclosed that the commission is collaborating with the Nigerian Upstream Petroleum Regulatory Commission and other relevant regulatory agencies to closely track developments in the petroleum sector and maintain market discipline.

He assured Nigerians that the commission would take decisive action against any individual or organisation found manipulating prices or engaging in anti-competitive practices under the guise of the global crisis.

Bello also revealed that Nigerian consumers have recovered more than N10 billion through complaints formally lodged with the commission, urging citizens to channel their grievances through official consumer protection platforms rather than merely expressing frustration.

According to him, the recoveries resulted from the resolution of more than 9,000 consumer complaints handled by the commission between March and August 2025.
He stressed that many Nigerians still preferred to complain informally rather than utilise the structured mechanisms provided by the commission for consumer protection.

He urged Nigerians to formally report service failures, exploitative practices and unfair market behaviour through the FCCPC complaint system.

He noted that the commission often mediates between consumers and service providers, compelling companies to refund customers, repair faulty products or rectify service failures.

Bello cited a case involving a consumer who purchased a luxury vehicle that later developed mechanical faults.

He also disclosed that the commission engaged telecommunications companies to prevent excessive tariff increases and protect subscribers from unfair pricing practices.