Nigerian Authorities Battle Cartels: FCCPC Fights Price-Fixing Schemes to Curb Exploitation of Consumers

Federal Competition and Consumer Protection Commission (FCCPC) has affirmed that traders are bunching together to form cartels in several markets, formal and informal, to subjectively fix costs of goods and services for criminal profiteering.
Acting Executive Vice Chairman of the Commission, Abdullahi Adamu, who disclosed this to journalists in Abuja, on Monday, in an enlightenment meeting with students and other youth groups on their protection and rights, said the development will not be endured.
Adamu said that such cartels are against the law, thus unacceptable to the Commission, and should be disbanded as quickly as possible.

“In the marketplace, people are not supposed to form themselves into food associations like yam sellers association, beans seller association, and several others, for the purposes of fixing costs for items. But unfortunately, they are doing that. That simply means forming cartels which is against the law.

“We have visited some of these markets and educated them that what they are doing is wrong and against the law, and we demanded that they disband such affiliations. However, we are also working with market administrators/management to teach these associations and make them understand that they are breaking some sections of FCCPC Act.
“We are still at the advocacy level, but in no distant time, we would start enforcement and sanctions. This may, maybe, awaken the awareness of others to.”
He appealed to manufacturers to stand by the rules and guidelines of engagements to maintain a strategic distance from sanctions that might affect their operations. “It’s an offense for a consumer to pick up an item in the shelve, and during payment, he or she finds that the cost is different. That’s highly misleading, and we frown at that.”
Meanwhile, the Acting Executive Vice Chairman, said the Commission is deeply committed to the cause of teaching students and other youth groups on the significance of demanding their rights at all times and empowered them not to hesitate to report to the Commission any cause of shortchange.