In a bid to combat the production of substandard goods and curb anti-competitive practices, the Federal Competition and Consumer Protection Commission (FCCPC) undertook a series of raids at three steel manufacturing companies in Ogun State. The targeted companies were African Foundries Limited in Ogijo, Monarch Steel Mill Limited in Sagamu, and Kam Steel Integrated Company in Sagamu, according to FCCPC.
Dr. Adamu Abdullahi, the Acting Executive Vice Chairman of FCCPC, addressing journalists recently stated that the commission’s visit was based on intelligence suggesting potential anti-competitive behavior by these companies.
“Essentially, we received intelligence and surveillance reports that these companies are allegedly involved in anti-competitive behavior. That is the reason we decided to visit these three companies,” Abdullahi explained.
The FCCPC chief further elaborated that some iron manufacturers produced 10mm iron rods but labeled and marketed them as 12mm.
“We are here to take samples of their products and review their records to determine if they are engaging in false, misleading, and deceptive practices,” he said.
According to Abdullahi, this malpractice is a significant contributor to building collapses in Nigeria.
“We are concerned about the safety of Nigerians, which is the essence of consumer protection. We need to ensure the safety of our population.
“We need to examine their processes to see if they are cutting corners. If they are, we will enforce the full extent of the law. That is why we are here,” he stated.
He also commended their level of cooperation, stating that all three firms were very cooperative throughout the investigation.
“Their lawyers were involved, and our laws permit that,” he said.
However, Abdullahi emphasized that the FCCPC was still in the information-gathering stage and had not yet found any of the companies liable.
“We are still collecting information. We will return to our office and allow forensic experts to analyze the gathered materials. Their analysis will guide our findings,” he remarked.
