The Federal Government launched a decisive campaign on Thursday to enforce price transparency at supermarkets across the Federal Capital Territory (FCT), targeting concerns over escalating costs of goods.
According to reports, the enforcement operation kicked off at 4U Supermarket, located in Wuse 2, Abuja, marking the beginning of a concerted effort to address price discrepancies that have been a significant issue for consumers.
Highlighting the importance of price transparency, the Federal Competition and Consumer Protection Commission (FCCPC) underscored that consumers have the fundamental right to be informed about the prices of goods they intend to purchase, without facing misleading pricing tactics.
Dr. Adamu Abdullahi, the acting Executive Vice Chairman/Chief Executive of the FCCPC, expressed firm disapproval of the situation, pledging to shield consumers from exploitation by unscrupulous businesses.
He said, “The FCCPC understands the significant financial strain these rising prices place on Nigerian households. As a result, the Commission is taking proactive steps to address this issue.
“The commission has directed its operatives to intensify monitoring of both formal and informal markets, where businesses may be taking advantage of market conditions to unfairly inflate prices, and ramp up enforcement activities.
“The operatives will work collaboratively with trade associations, farmer groups, and other stakeholders to identify and remove unnecessary barriers to entry in various sectors, combat price-fixing, and dismantle cartels. This will encourage increased competition, ultimately leading to lower prices for consumers.”
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