FCCPC warns traders against price inflation, substandard goods

July 31, 2025 by Our Reporter

The Federal Competition and Consumer Protection Commission (FCCPC) has warned traders in Lagos State to stop artificial price inflation and ensure the authenticity and safety of their goods.

The commission’s Executive Vice Chairman and Chief Executive Officer, Tunji Bello, gave the directive at a market engagement forum organised by the commission in Lagos.

Bello, who was represented by FCCPC’s Principal Consumer and Business Education Officer, Mrs. Bridget Etim, underscored the commitment of the commission to fostering fair competition and safeguarding consumer rights, as provided for in the Federal Competition and Consumer Protection Act (FCCPA) 2018.

He reminded all businesses, irrespective of their scale or operational setting, that they are subject to the provisions of this law.

Bello said findings from recent FCCPC operations included the discovery of expired rice re-bagged and sold as premium brands at Daleko Market.

He condemned such “wrong and illegal” practices, emphasising the inherent risks to public health and the damage inflicted on the reputation of honest traders.

The News Agency of Nigeria (NAN) reports that FCCPC’s intensified engagement extended to major markets in Lagos, namely Mile 12 and Alaba.

At Mile 12, Lagos’s largest food hub, the commission tackled issues of tampered scales, under-weighing, the repackaging of spoilt produce, and suspected price-fixing of essential staples like rice, pepper, and yam.

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Similarly, at Alaba International Market, a prominent electronics hub, the FCCPC addressed concerns over the sale of counterfeit appliances, misleadingly labeled “Tokunbo” (fairly used) goods.

Others include false warranty claims and coordinated price-fixing of electronics such as televisions, generators, and phones.

“These are not minor issues. They affect household income, endanger consumer safety, and erode public trust.

“They violate key provisions of the FCCPA 2018, which prohibit deceptive practices and unfair pricing,” the FCCPC boss said.

Bello stressed that such violations not only harm the integrity of the market but also disadvantage honest traders who adhere to ethical practices.

Acknowledging the pressures faced by traders, including rising operational costs, the FCCPC boss reiterated the commission’s dual mandate: consumer protection and the amplification of genuine business concerns to relevant agencies.