The Federal Competition and Consumer Protection Commission (FCCPC), said it is going to monitor and investigate unusual hikes in prices of goods and services.
The Commission said it was unacceptable that, despite the recent appreciation of the Naira against the Dollar, consumers continue to face escalating costs without a corresponding decrease in prices
This was disclosed by the Ag. Executive Vice Chairman/Chief Executive Officer, Dr. Adamu Abdullahi, in a statement issued on Wednesday.
It added that while it cannot directly regulate prices, the Commission would utilise its existing legal framework to enforce fair competition and consumer protection provisions.
It said: “The Federal Competition and Consumer Protection Commission (FCCPC) is aware of the concerns expressed by Nigerians regarding the continued rise in prices of goods and services.
“Despite the recent appreciation of the Naira against the dollar, consumers continue to face escalating costs without a corresponding decrease in prices.
“This situation is unacceptable, and the FCCPC is committed to protecting consumers from exploitation.
“The FCCPC understands the significant financial strain these rising prices are placing on Nigerian households. As a result, the Commission is taking proactive steps to address this issue.”
Kazeem Badmus is a graduate of Mass Communication with years of experience. A professional in journalism and media writing, Kazeem prioritses accuracy and factual reportage of issues. He is also a dexterous finder of the truth with conscious delivery of unbiased and development oriented stories.
The Osun State Government on Tuesday unveiled the new logo for the state, a week…
Reports have indicated that the Nigerian passport ranked 191 out of 199 countries, making it…
The Edo State Governor, Godwin Obaseki, has disclosed why he did not back his former…
President Bola Tinubu and all relevant stakeholders in the petroleum industry have been summoned to…
The Federal Government has declared Wednesday, May 1, 2024, as a public holiday in commemoration…
Ekiti students, under the aegis of the Federation of Ekiti State Students’ Union (FESSU), stormed…
This website uses cookies.