By Busari Kabirat
The Federal Competition and Consumer Protection Commission (FCCPC), has made known it’s intensions by engaging key players and market leaders in the supply chain to fight the spreading of price exploitation to consumer goods nationwide.
This was made known In a signed statement by Tunji Bello, the executive chairman and CEO of FCCPC, highlighting the effect of the exchange rate on the Naira, stating that prices for both imported and locally produced goods are often unjustifiably high.
The statement identifying that the problem is common in the retail sector, where certain market associations have implicated the price by fixing and resulting to unfair costs for consumers.
The FCCPC chairman is therefore emphasizing on the Commission working closely with the market leaders to start a fair pricing practices.
He said, the initiative is to ensure sellers and suppliers still earn their profit without exploiting consumers, as this initiative aligns with President Bola Tinubu’s renewed hope agenda for Nigerian consumers and directives given to supermarkets to clearly display prices on their product shelves, ensuring transparency and preventing consumers from being caught off with outrageous prices at checkout.
