Politics News

FCCPC moves to curb price gouging

The Federal Competition and Consumer Protection Commission (FCCPC) says it has commenced investigation into price gouging with a view to protect and ensure that consumers are not shortchanged.

The FCCPC Director General, Mr Babatunde Irukera made this known when he appeared in a forum in Abuja.

Irukera said the findings would also unravel the state of products and whether companies and retailers were selling standard or substandard commodities to the consumers.

He explained that the commission was also looking into a bunch of other competition issues.

“For instance, we have got a large competition investigation going on in the flour industry to see if price manipulation is occurring there

“Flour is very stable and is the base for a lot of things. Bakers are threatened to increase the price of bread by 60 per cent.

“We had to have a meeting with the association to address the question of whether, at association level, you can coordinate and unilaterally decide on prices; if it is a violation of law or not.”

The Director General said the commission also had a meeting with market associations in Onitsha to sensitise them to basic hygiene products like hand sanitiser and face masks as well as their fair pricing.

“We will continue to do the best we can; we are encouraging Nigerians to always demand for their rights and insist.

“And when their rights are still not respected, the regulator is here and we will do whatever we can,” Irukera said.

Related posts

Fire outbreak paralyses activities of NHRC in Sokoto state

Editor

Inauguration/Democracy Day: Presidency replies Obasanjo, says he owes answer to Nigerians

By Meletus EZE

I just needed a child to call me mother, Jos baby thief confesses

By Kunle SHONUGA

UN pledges to support AfDB’s power project

By Shile GIWA

APC loses 2 House of Reps members

Editor

Otedola Bridge fire: 8 families show up for DNA testing

Editor