By Atoyebi Nike
The Federal Competition and Consumer Protection Commission (FCCPC) has cautioned traders across Lagos State to desist from artificial price hikes and ensure the sale of genuine, safe products.
Speaking at a market engagement forum in Lagos, the FCCPC’s Executive Vice Chairman and CEO, Mr. Tunji Bello, represented by Mrs. Bridget Etim, said the agency remains committed to protecting consumers and promoting fair business practices as stipulated by the FCCPA 2018.
Bello warned that all businesses, regardless of size, are subject to the law. He cited disturbing findings during recent FCCPC inspections, including re-bagged expired rice being sold as premium brands at Daleko Market, and under-weighing and price-fixing at Mile 12 Market.
At Alaba International Market, the commission also uncovered the sale of fake electronics falsely labeled as “Tokunbo” products and fraudulent warranty claims.
“These practices not only endanger public health and erode consumer trust but also violate key provisions of the FCCPA,” Bello stated, urging traders to uphold market integrity.
Despite acknowledging the economic pressures faced by traders, Bello stressed that unethical conduct undermines honest competitors and harms the broader economy.
He called for collaboration between the FCCPC and market leaders to establish a culture of fair pricing, transparency, and customer respect.
Also speaking, Alhaji Shehu Jibril, Chairman of Mile 12 Market, urged government support to address food transport challenges, insecurity affecting farmers, and lack of capital among traders. He called for dedicated CNG trucks for perishable goods and financial grants to strengthen food distribution.
