• Business
  • Updated: June 11, 2024

Price fixing: FCCPC sensitises traders, stores

Price fixing: FCCPC sensitises traders, stores

The Federal Consumer Competition and Protection Commission, FCCPC, has revealed that it has started sensitisation to open markets and supermarkets to educate operators and traders on consumer rights and price fixing procedures.

The disclosure was made by Dr. Adamu Abdullahi, the Acting Executive Vice Chairman of the Commission, on Monday in Abuja at a one-day sensitization workshop for students in Nigerian tertiary institutions organized by the FCCPC.

He said it is crucial to educate the traders and supermarket operators, so that they will acquaint themselves with the law before sanction comes in.

“We have embarked on an advocacy visit to open markets across the country and supermarkets to educate the operators and traders on what the consumer protection law stipulates. For instance, you can’t go to the market and see a particular price tag on an item and when you go to pick it, they will tell you the price is higher, it is misleading and deceptive and the law does not allow that.

“Also, those traders in the open markets form associations on different food items like yam, egg, rice and others and sit down to fix prices of such items. They become a cartel of price fixing and we at FCCPC are going there to tell them the law is against that.

“What we are doing now is sensitization, and after that, sanction will follow for those defaulting,” Abdullahi explained.

Speaking further on the essence of the engagement with students, he added that “The FCCPC has set up a committee and have given them three months to draw up a curriculum to be rolled out in schools to start teaching Nigerian students more about consumer rights as part of the Commission’s mandate.”

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