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FCCPC Sympathises With Nigerians Amid Soaring Commodity Prices

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The Acting Executive Vice Chairman and CEO of the Federal Competition and Consumer Protection Commission (FCCPC), Dr. Adamu Abdullahi, has sympathized with Nigerians following the increased surge in commodity prices and acknowledged the significant financial burden the rising prices impose on households.

In an exclusive interview with ADBN TV, Dr. Abdullahi noted that while the FCCPC cannot regulate prices, the Commission will utilize its existing legal framework to enforce fair competition and consumer protection in both the formal and informal markets.

Dr. Abdullahi also restated the Commission’s commitment to addressing complaints filed by consumers while debriefing Nigerians on the ongoing investigation as it concerns allegations of discrimination by an Abuja-Chinese Supermarket following summons issued to the owner Ms. Cindy Bei by the FCCPC.

He emphasized the significance of collaborating with other government agencies to address the intricate challenges posed by cartel formations, price gouging, and other anti-competitive practices as he noted that these practices by businesses aim to exploit market conditions unfairly and inflate prices.

He also lauded the National Assembly for the steps taken to protect Nigerians in light of its decision to suspend the electricity tariff hike.

 

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