FCCPC Urges Traders Against Price Inflation, Substandard Goods

The Federal Competition and Consumer Protection Commission (FCCPC) has issued a stern warning to traders across Lagos State to stop artificial price inflation and ensure the authenticity and safety of their products.

Mr. Tunji Bello, the Executive Vice Chairman and CEO of FCCPC, conveyed this directive during a Market Engagement Forum held in Lagos. Represented by Mrs. Bridget Etim, the Principal Consumer and Business Education Officer, Bello reaffirmed the commission’s commitment to promoting fair competition and protecting consumer rights as mandated by the Federal Competition and Consumer Protection Act (FCCPA) 2018.

He reminded all businesses, regardless of size or location, that they must comply with the provisions of the law.

Bello cited recent FCCPC investigations that uncovered expired rice being re-bagged and sold as premium brands at Daleko Market, condemning such illegal practices as harmful to public health and damaging to honest traders’ reputations.

The News Agency of Nigeria reports that FCCPC’s ongoing engagements have extended to key Lagos markets, including Mile 12 and Alaba.

At Mile 12, the largest food market in Lagos, the commission tackled issues such as tampered weighing scales, under-weighing, repackaging of spoiled produce, and suspected price-fixing of staples like rice, pepper, and yam.

At Alaba International Market, known for electronics, the FCCPC addressed concerns about counterfeit appliances falsely labelled as “Tokunbo” (fairly used), misleading warranty claims, and coordinated price-fixing on products like televisions, generators, and phones.

“These issues are serious. They threaten household budgets, consumer safety, and public confidence. They violate key sections of the FCCPA 2018 that outlaw deceptive and unfair pricing practices,” Bello said.

He emphasized that such violations harm market integrity and put honest traders at a disadvantage.

While acknowledging the rising operational costs traders face, Bello reiterated FCCPC’s dual mandate: protecting consumers and amplifying legitimate business concerns to relevant authorities. He urged market leaders to work collaboratively to establish standards of integrity that foster fair competition and consumer trust.

Bello called on traders to maintain honesty, respect customer rights, and promptly address consumer complaints. He expressed optimism that renewed engagements would align market associations and the FCCPC in eliminating abusive and deceptive practices.

At the forum, Alhaji Shehu Jibril, Chairman of Mile 12 Market, stressed the importance of farmer security for national food supply and called for investment in dedicated Compressed Natural Gas trucks for transporting perishables safely. He highlighted the burden of excessive transportation costs—over N150,000 to move goods from Kano to Lagos due to multiple taxes—and appealed for government grants to support capital-starved traders in large markets.

Chief Camilus Amajuoyi, Chairman of the Alaba International Amalgamated Council of Sections, expressed readiness to partner with the FCCPC, affirming the market’s commitment to stop the sale of substandard goods and promote honest business practices. He noted past successful collaborations with the commission.

Amajuoyi, also president-general of the Alaba Council, denied allegations of fake goods in the market, emphasizing a growing focus on locally made Nigerian brands.

“We do not sell counterfeit products. Many traders have stopped selling foreign goods and now promote indigenous brands,” he said.

He pledged full cooperation with the FCCPC to identify and sanction those selling fake items, warning that such acts tarnish Alaba’s reputation.

“We are ready to assist in rooting out illegal sellers,” Amajuoyi affirmed.