The Federal Competition and Consumer Pricing Commission (FCCPC) says, disproportionate pricing of imported goods mostly among retailers is mostly responsible for inflation in consumer goods in the country.
In a statement by the FCCPC’s Executive Vice Chairman/Chief Executive Officer, Tunji Bello. The commission stated its intention to engage with market leaders to check against exploitative pricing across the country.
According to the statement, the commission stated that by collaborating with market leaders, it is confident that a consensus can be reached on fair product pricing to avoid excessive profiteering at the expense of consumers during these economically challenging times. It stated,
The Commission noted that efforts to protect Nigerian consumers align with President Bola Tinubu’s renewed hope agenda.
The Commission has already directed supermarket operators to clearly display product prices on their shelves, ensuring transparency and preventing situations where shoppers only discover prices after making payment and receiving a receipt.
