In a bid to tackle the escalating prices of essential commodities, the Federal Competition and Consumer Protection Commission (FCCPC) conducted an enforcement raid on two supermarkets in the Federal Capital Territory, Abuja, on Thursday.
Led by the Executive Secretary of the Commission, Dr. Adamu Abdullahi, the operation aimed to ensure compliance with regulations on price display and quantity.
Dr. Abdullahi announced plans to extend the enforcement exercise to major cities like Lagos, Port Harcourt, Ibadan, Kano, Kaduna, and others in the coming weeks.
He emphasized the need to curb abnormal price surges, which have persisted despite recent improvements in the value of the naira.
During the raid, which lasted several hours, the FCCPC sealed a supermarket and seized 33 bags of suspected fake rice infested with weevils.
The discovery underscored the extent of the challenge posed by deceptive practices in the market.
The Commission’s crackdown comes in response to consumer complaints about rising costs, which defy the strengthening of the naira.
Food inflation, in particular, has contributed to Nigeria’s headline inflation rate of 33.2 percent, with food inflation reaching an unprecedented 40 percent in March 2024.
Despite assurances from the Presidency regarding efforts to combat inflation and bolster the naira’s value, tangible improvements in the cost of living have remained elusive.
Special Adviser to the President on Media and Publicity, Ajuri Ngelale, reiterated the government’s commitment to protecting consumers and ensuring fair pricing.
However, challenges persist, as evidenced by the discovery of misleading pricing practices and the absence of price tags on some products during the FCCPC raid.
Dr. Abdullahi expressed concern over supermarkets selling rice from companies that ceased production years ago, highlighting the deceptive tactics employed to exploit consumers.
The FCCPC boss pledged to investigate the supermarkets involved and impose appropriate sanctions on those found guilty of violating consumer protection laws.
Notably, this enforcement action builds on previous measures, such as the sealing of Sahad Stores in Abuja for misleading pricing practices.
Dr. Abdullahi emphasized the importance of ensuring transparency and fairness in pricing, condemning practices that deceive consumers and erode trust in the market.
He reaffirmed the Commission’s commitment to holding accountable businesses engaged in price manipulation or other unfair practices.
As the FCCPC continues its efforts to enforce consumer protection laws and promote market integrity, consumers can expect greater scrutiny of pricing practices and increased accountability among businesses.
The Commission’s actions aim to restore confidence in the marketplace and safeguard the interests of Nigerian consumers.
