Stop price inflation, sale of substandard goods – FCCPC warns traders

The Federal Competition and Consumer Protection Commission, FCCPC, has issued warning to traders across Lagos State to cease artificial price inflation and ensure the authenticity and safety of their goods.

Mr Tunji Bello, the Executive Vice Chairman and Chief Executive Officer of FCCPC, gave the directive at a Market Engagement Forum organised by the commission in Lagos.

Bello, represented by Mrs Bridget Etim, Principal Consumer and Business Education Officer, FCCPC, underscored the commitment of the commission to fostering fair competition and safeguarding consumer rights, as enshrined in the Federal Competition and Consumer Protection Act, FCCPA, 2018.

He reminded all businesses, irrespective of their scale or operational setting, that they are subject to the provisions of this law.

Bello said that findings from recent FCCPC operations included the discovery of expired rice re-bagged and sold as premium brands at Daleko Market.

He condemned such “wrong and illegal” practices, emphasising the inherent risks to public health and the damage inflicted on the reputation of honest traders.

According to the News Agency of Nigeria, NAN, FCCPC’s intensified engagement also extended to major markets in Lagos, namely Mile 12 and Alaba.

At Mile 12, Lagos’s largest food hub, the commission tackled issues of tampered scales, under-weighing, the repackaging of spoilt produce, and suspected price-fixing of essential staples like rice, pepper, and yam.

Similarly, at Alaba International Market, a prominent electronics hub, the FCCPC addressed concerns related to the sale of counterfeit appliances, misleadingly labeled “Tokunbo” (fairly used) goods.

Others include false warranty claims, and coordinated price-fixing of electronics such as televisions, generators, and phones.

“These are not minor issues. They affect household income, endanger consumer safety, and erode public trust.

“They violate key provisions of the FCCPA 2018, which prohibit deceptive practices and unfair pricing,” the FCCPC boss said.

He stressed that such violations not only harm the integrity of the market but also disadvantage honest traders who adhere to ethical practices.

While acknowledging the pressures faced by traders, including rising operational costs, Bello reiterated the FCCPC’s dual mandate: consumer protection and the amplification of genuine business concerns to relevant agencies.

He called for a collaborative approach with market leaders to establish new standards of integrity, where fair competition thrives and consumers can shop with confidence.

Bello urged traders to always ensure honesty and respect in their dealings with customers, to promptly address consumer concerns and complaints.

According to him, FCCPC is optimistic that this renewed engagement will lead to a shared vision with market associations to eradicate all forms of abusive and deceptive practices.

Speaking at the forum in Mile 12, Alhaji Shehu Jibril, Chairman, Mile 12 Market, that farmer security is critical for national food security and for them to be able to cultivate and harvest without facing ransom threats.

He called for investment in Compressed Natural Gas (CNG) trucks dedicated to transporting perishable items, noting that using the same trucks for chemicals and food is unsafe and harmful.

Jibril stated that the excessive cost of over N150,000 to transport goods from Kano to Lagos, driven by multiple taxes, severely impedes the movement of goods.

He appealed for government grants to support struggling traders, especially in large markets like Mile 12 Market, noting that most traders lack capital and need funding to sustain food supply chains.

Stop price inflation, sale of substandard goods – FCCPC warns traders