Federal Competition and Consumer Protection Commission (FCCPC) said it will conduct more raids to stop unfair trade practices across Nigeria.
The commission made this known on Saturday in a statement following the recent raids it conducted in Abuja and a few states.
Despite the naira appreciating against the dollar, prices of food items and commodities kept on increasing, bringing untold hardship on Nigerians.
Aside the exorbitant prices of goods, some retailers were also found culpable of manipulating weight scales, and tampering with the actual measure of the quantities of the goods they sell to customers at certain prices.
This has necessitated FCCPC to make several interventions in some states across the country.
On Wednesday March 24 in a targeted enforcement operation at Garki Modern Market in Abuja, it was discovered that the weight scales were deceptive and the quantities in a 25kg or 50kg of rice were much lesser than those on the bags.
In another enforcement operation at 4U Supermarket in Abuja, FCCPC operatives discovered discrepancies between displayed prices and checkout prices.
Some of their food items were also said to have been infested by pests, but that did not deter them from selling to the public.
The commission also discovered and evacuated about 97 bags of rice made by Stallion and Caprice, which had not been produced in Nigeria since 2018.
Another enforcement drive by the commission at the Woji area in Port-Harcourt revealed that the supermarkets were selling under-weight and rebagged rice.
Following these discoveries, FCCPC’S Chief Executive Officer, Dr. Adamu Abdullahi has explained that such raids will be conducted in both formal and informal markets across Nigeria
“This will help to eliminate unfair trade practices such as collusion, price gouging, price fixing and the running of cartels,” the statement read.
“The commission cannot directly regulate prices, but Abdullahi reassured consumers that FCCPC will use its existing legal framework to enforce fair competition and provide consumer protection.”
He also stated that the commission will collaborate with trade associations, farmer groups and others, to remove and eradicate unnecessary barriers to entry in various sectors to combat price fixing and dismantle cartels.
Abdullahi added that unusual price hikes will be investigated and dealt with appropriately.
The commission has also urged consumers to report suspected price gouging and other sharp trade practices.
