Report Traders Arbitrarily Increasing Prices Of Commodities

The Federal Competition and Consumer Protection Commission (FCCPC) has called on Nigerians to report any instances of arbitrary price hikes by businesses.

Naija News reports that the Commission made the call in a statement released on its official X (formerly Twitter) handle on Sunday, amid rising concerns over the impact of escalating prices on consumer welfare and economic stability.

The FCCPC emphasized that while it does not have the authority to control prices directly, it remains committed to enforcing fair market practices and ensuring that consumers are not exploited by unscrupulous business tactics such as price gouging or conspiracies to manipulate supply.

“Arbitrary price increases stemming from untoward practices like price gouging and conspiracy to manipulate supply violate existing laws,” the commission stated.

Further detailing their readiness to combat these violations, the FCCPC declared, “The commission will not hesitate to invoke Section 17(s) of the Federal Competition and Consumer Protection Act (FCCPA) 2018 against any perpetrator of such acts.”

This section of the law specifically prohibits obnoxious trade practices and the unscrupulous exploitation of consumers.

In addition to their warning, the FCCPC encouraged Nigerians to remain vigilant and proactive in reporting any unfair trade practices they encounter.

“Consumers are urged to provide comprehensive details for any report, including the nature of the conduct, location of the perpetrators, and other relevant information that could aid in investigations, through the commission’s contact email: [email protected],” the statement read further.

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