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FCCPC to prosecute business owners increasing prices of items
The Federal Competition and Consumer Protection Commission (FCCPC) has taken measures to prevent business owners from unfairly increasing prices of items in the markets despite the naira’s appreciation against the dollar.
In response to public outcry, Adamu Abdullahi, the acting executive vice chairman of FCCPC, said rising prices of items despite the naira gaining against the dollar is unacceptable and promised to safeguard consumers.
To achieve the development, he said FCCPC operatives will work in collaboration with trade associations, farmer groups, and other stakeholders to tackle price-fixing and dismantle cartels.
READ ALSO: Rising cost of living may trigger social unrests in Nigeria, Kenya, others, AfDB warns
The initiative aims to promote healthy competition and ultimately reduce consumer prices.
Consumers are encouraged to report any suspected price gouging or unfair trade practices via contact@fccpc.gov.ng.
Abdullahi said, ”The FCCPC understands the significant financial strain these rising prices are placing on Nigerian households.
“As a result, the commission is taking proactive measures to stop such occurrences.”
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