The Federal Competition and Consumer Protection Commission, FCCPC, has urged organisations dedicated to consumer welfare and business-to-customer relationships to promote fair business practices.
The Executive Secretary of FCCPC, Dr Adamu Abdullahi, made the appeal during an engagement between the commission and the National Association of Supermarket Operators of Nigeria and Retail Council of Nigeria on Thursday in Lagos.
Abdullahi noted that the commission had identified concerns in the retail sector, especially regarding the inconsistent display of prices, which had led to discrepancies between shelf prices and the final amount charged at the till.
To address this, the executive vice chairman urged supermarkets to maintain price transparency and consistency, recognising that trust and market integrity hinge on this critical aspect.
He explained that, while the FCCPC does not regulate prices, it has a mandate to promote fair competition and discourage price gouging and unfair pricing practices.
Abdullahi said: “We don’t control prices. But we ensure that there is a level playing field so that the market is open and people can come in, display their wares, and sell at their own prices.
“The price dictates whether you sell your products or not, as far as we’re concerned.
“We feel that it’s only fair that if the government is trying its very best to bring down the Naira exchange value, then those efforts should also be rewarded by retailers by bringing down the cost of items.”
By upholding consumer rights and fostering a competitive marketplace, the FCCPC boss added that the commission aimed to create a conducive environment for both businesses and consumers to thrive.
According to him, the commission is dedicated to enforcing compliance with the law, particularly the Standards Organisation of Nigeria Act, to eradicate deceptive and misleading marketing practices that undermine competition.
