Lagos: The Federal Competition and Consumer Protection Commission (FCCPC) has issued a 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, conveyed this directive at a Market Engagement Forum organised by the commission in Lagos.
According to News Agency of Nigeria, Bello, represented by Mrs. Bridget Etim, Principal Consumer and Business Education Officer, FCCPC, emphasized the commission's commitment to fostering fair competition and safeguarding consumer rights, as outlined in the Federal Competition and Consumer Protection Act (FCCPA) 2018. He reminded all businesses, regardless of their size or operational setting, that they are subject to the provisions of this law.
Bello revealed that recent FCCPC operations uncovered the sale of expired rice re-bagged and marketed as premium brands at Daleko Market. He condemned these practices as 'wrong and illegal,' highlighting the risks to public health and the potential damage to the reputation of honest traders.
NAN reports that FCCPC's intensified engagement extended to major markets in Lagos, including Mile 12 and Alaba. At Mile 12, the largest food hub in Lagos, the commission addressed issues such as tampered scales, under-weighing, 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 tackled concerns related to counterfeit appliance sales, misleadingly labeled 'Tokunbo' goods, false warranty claims, and coordinated price-fixing of electronics.
Bello stressed that these violations not only harm the integrity of the market but also disadvantage traders who adhere to ethical practices. While acknowledging the challenges faced by traders, such as rising operational costs, Bello reiterated the FCCPC's dual mandate of protecting consumers and amplifying genuine business concerns to relevant agencies. He called for collaboration with market leaders to establish new standards of integrity, where fair competition thrives, and consumers can shop confidently.
In his remarks, Alhaji Shehu Jibril, Chairman of Mile 12 Market, emphasized the importance of farmer security for national food security and called for investment in Compressed Natural Gas (CNG) trucks dedicated to transporting perishable items. Jibril noted the high transportation costs from Kano to Lagos, driven by multiple taxes, severely impede the movement of goods and appealed for government grants to support struggling traders.
Chief Camilus Amajuoyi, Chairman of the Alaba International Amalgamated Council of Sections, expressed the market's readiness to cooperate with FCCPC. He stressed the association's commitment to promoting honest business practices and highlighted past successful engagements with the commission. Amajuoyi denied claims of fake goods in Alaba, noting a shift towards selling locally made Nigerian brands.