…Launches Interactive Portal For Complaints
The Federal Competition and Consumers Protection Commission (FCCPC) ably led by Mr. Tunji Bello, has passionately appealed to stakeholders in the production and distribution value chain of the economy to join the crusade to sustainably curb price fixing and other unethical practices.
Mr. Ikechukwu Agu – Commercial Director Pernod Ricard Nigeria
Bello made the appeal in Lagos on Wednesday while addressing a hall pack full of captains of large/small-scale industries, leaders of market associations, transport operators and service providers at a town-hall meeting hosted by the commission.
According to him, the meeting was necessitated by startling discoveries made by the commission during a survey conducted nationwide.
“We discovered that some traders form cartels in the markets and put barriers in form of ridiculous membership fees intended to ensure price fixing in the market. Without joining them, they won’t allow anyone to sell goods in the market or provide services.
Such practices are against the law and constitute some of the offenses the Commission is against,” said the FCCPC boss.
He added: “The purpose of the town-hall meeting initiative is to engage you the stakeholders in the production and retail segment of the market as well as service providers, to hear your own stories, with a view to achieving a consensus for the benefit of all of us.”
The Lagos stakeholders’ meeting is a sequel to the one held in Abuja two weeks ago.
The FCCPC initiative is coming at a time Nigerians are experiencing sharp increases in the prices of food items and transportation costs across the country.
While acknowledging that the exchange rate and the increase in petrol price make the old prices unsustainable, Bello however frowned at disproportionate increases in the prices of food items which he said are often perpetrated by “cartels” to exploit consumers.
Even though sections of the law empower the commission to deal decisively with offenders, Bello said FCCPC chose to first explore the option of dialogue with a view to arriving at a consensus to deal with the growing trend.
Section 17 of the FCCP Act empowers the Commission to eliminate anti-competitive practices, misleading, unfair, deceptive or unconscionable marketing, trading, and business practices. It prescribes sanctions including a fine of up to N10m and a jail term of three years for anyone found guilty by the court.
To facilitate a better engagement, Bello disclosed that the FCCPC has upgraded its portal through which aggrieved consumers could lodge a complaint and their grievances would be addressed promptly.
On the economic outlook, Bello stated that the removal of taxes on imported food items, pharmaceutical products and transportation was part of measures being taken by the Tinubu administration to cushion the effects of the reforms introduced to reposition the Nigerian economy.
He sought the cooperation of the traders to ensure that the consumers get the benefits through reduced prices.
“Such laudable measures by President Tinubu would however be in vain if the benefits are not passed down to the consumers,” said Bello.
