In a bid to tackle exploitative pricing, the Federal Competition and Consumer Protection Commission (FCCPC) has issued a one-month deadline to traders and market stakeholders to reduce the prices of goods.
The newly appointed Executive Vice Chairman of the FCCPC, Mr. Tunji Bello, made this announcement during a stakeholders’ engagement on exploitative pricing in Abuja on Thursday.
Bello warned that the Commission would commence enforcement actions after the moratorium period, stressing that the meeting was convened to address the growing trend of unreasonable pricing of consumer goods and services, as well as unethical practices by market associations.
The move is seen as a bold step by the Tinubu administration to protect consumers from price gouging and ensure fair market practices.
Traders and market stakeholders are expected to comply with the directive to avoid facing enforcement actions from the FCCPC.
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