FG to prosecute erring retailers over hike in food, comodity prices — Nigeria — The Guardian Nigeria News – Nigeria and World News

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The Federal Government said it will prosecute those caught spiking the prices of goods and commodities across Nigeria.

The Federal Competition and Consumer Protection Commission (FCCPC) said this in a statement where it addressed the issues of arbitrary price increases and dollar brouhaha.

FCCPC said it acknowledges that the rising cost of essential goods impacts consumers’ well-being and economic stability.

The commission added that while it recognises that it cannot directly control prices, it is committed to safeguarding consumers’ interests and ensuring fair market practices, necessitating fair pricing.

According to FCCPC, arbitrary price increases stemming from untoward practices like price gouging and conspiracy to manipulate supply violate existing laws.

“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…



Source: Guardian Newspaper