NEWS

FCCPC Warns Wholesalers, Retailers Against Indiscriminate Hike Of Food Prices

The Federal Competition and Consumer Protection Commission (FCCPC) has issued a strong warning to those involved in the food industry regarding the unjustified increase in food prices. In a statement released by Dr. Adamu Abdullahi, the Acting Executive Vice Chairman of FCCPC, the commission emphasized its zero tolerance for price gouging and warned of swift and severe legal repercussions.

Abdullahi pointed out that the FCCPC’s surveillance revealed instances of collusion, price gouging, hoarding, and other unfair practices among participants at various levels of the food supply chain. He emphasized that such actions, which limit and distort competition, are unacceptable, unethical, exploitative, and illegal, particularly given consumers’ concerns and vulnerabilities.

”The Commission’s priority remains to address key consumer protection and competition issues in the food chain sector.

”The Commission’s surveillance efforts suggested that participants in the food chain distribution and retail level were engaging in conspiracy, price gouging, hoarding and other unfair tactics and strategies,” he said.

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