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FCCPC vows to protect consumers from Soaring price of goods

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By Francesca Hangeior.

 

The Federal Competition and Consumer Protection Commission (FCCPC) has vowed to protect Nigerian consumers by tackling price fixing and other exploitative practices in markets across the country.

Price gouging is an unfair practice that takes advantage of crises or economic hardships to inflate prices arbitrarily, while price fixing occurs when competitors or market associations, without their own products, collude to set prices.

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The Commission, in a statement issued by Ondaje Ijagwu, Director, Special Duties (& Strategic Communication) in Abuja, this afternoon, insisted, “While promoting competition is essential for economic health, as evidenced in sectors like telecommunications, it is equally important to enforce laws against practices that undermine fair competition.

“The FCCPC remains committed to a balanced approach that respects the dynamics of a free market while ensuring that consumers are protected from harmful practices.

“We encourage all businesses to engage in ethical and lawful practices that contribute to a fair and competitive marketplace. The FCCPC does not seek to suppress private enterprise; our role is to ensure that the market operates on principles of fairness, transparency, and accountability. When businesses, as illustrated by the cement sector case, engage in practices that harm consumers, the FCCPC will take decisive action.”

The FCCPC pledged to work collaboratively with all stakeholders; businesses, consumer groups, and other government agencies, to address both the immediate and remote causes of exploitative pricing, adding, “Our approach combines enforcement with cooperation, aiming to protect consumers and maintain a healthy competitive environment.”

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According to the organisation, it has given a one-month moratorium before enforcement begins, providing businesses with the necessary time to adjust their practices and ensure full compliance with laws aimed at protecting consumers and fostering fair competition.

It added “The FCCPC stands firm in its commitment to enforcing the Federal Competition and Consumer Protection Act (FCCPA) 2018. We will continue to monitor the marketplace and take action against any business practices that violate the law.

“Consumers and businesses alike can trust that we will remain vigilant in upholding the principles of fair competition and consumer protection.”

The commission asserted that prices in a competitive marketplace are determined solely by the forces of supply and demand, adding, it did not, therefore, contemplate price control, having considered it outside the scope of its responsibilities.

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“We have never considered, nor will we ever consider, intervening in the market to regulate prices. Any claims to the contrary are baseless and unfounded. Our recent directives are not about controlling prices but are focused on curbing exploitative practices and anti-competitive behaviours that distort the marketplace and harm consumers.

“We recognise the complexities of the current economic environment, including challenges such as foreign exchange fluctuations and fuel subsidy removal. These factors certainly impact pricing, but they do not excuse or justify exploitative practices that are anti-consumer. The Commission’s proposed actions in the retail sector are targeted and evidence-based, responding to specific instances where consumers are vulnerable to such exploitation,” the commission.

The FCCPC said that the disclosure by Abdul Samad Rabiu, Chairman of BUA Cement, on how BUA Cement’s effort to sell cement at a fair price of N3,500 per bag, was undermined by dealers who inflated prices to as much as N7,000 to N8,000 per bag, exemplified the kind of exploitative conduct that it was committed to addressing.
According to the organization, such practices make it difficult for ethical businesses to thrive and should not be condoned in the country.

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Photos: We’re building infrastructure for a knowledge-driven economy – Tinubu

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President Bola Tinubu has said that his administration was building road infrastructure to lay the needed physical foundation for a knowledge-driven economy, stressing that education, justice, and innovation need roads to thrive.

Tinubu stated this in Abuja on Tuesday, while flagging off the construction of Collector Road CO1 in the Institutional Research District, from Nile University to Ring Road III.

Represented by the National Chairman of the All Progressives Congress, Prof Nentawe Yilwatda, the President said that the project included dualisation of the road from Baze University roundabout to Nile University, that is the Base University.

He noted that three years into his administration, the results were speaking out.

“From the Southern Parkway to the Institution and Research District, we are laying the physical foundation for a knowledge-driven economy.

“Today, we provide those roads that are needed to provide justice, education, and innovation to our people.

“To the university community, this road is more than a route. It is a connection between learning, law, and the future of our capital,” he said.

He pointed out that the Institution and Research District was designed to be the intellectual heart of Abuja, adding that universities, law chambers, research centers, and innovation hubs were growing in the area.

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He, however, stressed that ideas could not move if roads do not move and connect the heart and people together.

Tinubu further said: “Under the Renewed Hope Agenda, we made a choice to finish what was started and to start what we must finish.

“The first phase of this corridor connecting the Body of Benchers, Nile, and Base University is done and ready for commissioning. Today, we begin the next phase to Ring Road III to complete the loop.

“That is how we build a city—with a plan. Not a city of abandoned pieces. Infrastructure must be continuous, and it must also be useful to the people within the environment”.

He commended FCT Minister Nyesom Wike for turning FCT into a delivery agency, stressing that the transformation of Abuja under the minister’s watch is bold, visible and worthy of commendation.

He said, “Wike, your energy is unmatched. You took over a capital with many stalled projects and turned the FCTA into a delivery agency. ‘Mr. Projects’ is not a slogan, it is a record. You have revived sleeping roads, built new interchanges, and brought development to satellite towns. You have domesticated the Renewed Hope Agenda; street by street, district by district. The transformation of Abuja under your watch is bold, visible, and worthy of commendation. Well done, Minister Wike.”

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In his remarks, Wike explained that the project was considered following a plea by the Body of Benchers to provide access roads to ease the movement of people in and out of the area.

He assured FCT residents that the Tinubu administration would fulfill all the promises made to the people of FCT, adding that the project would be completed by January 2027.

The minister said that he would continue to deliver life-impacting projects to FCT residents as directed by Tinubu, stressing that the delivery would not be affected by 2027 political activities.

Earlier, acting Executive Secretary, Federal Capital Development Authority, Mr Richard Dauda, said that the Institutional Research District of the FCT is located in Phase III of the city.

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Dauda said that the area was planned to accommodate educational institutions like universities, research institutions, and other government institutions as provided in the Abuja master plan.

He added that the district was being developed in stages, with this project being a major intervention in the opening of this district.

He explained that the scope of the current stage involved the construction of Collector Road CO1, from the Nile University to Ring Road III with a total length of about six kilometres.

He added that the project also included the dualisation of the section from the Base University Junction to Nile University.

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Just in: Kidnapped APC Chairman, Another Victim Die in Abductors hideout

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Tragedy struck in northern Nigeria following reports that two abducted victims, including a former chairman of the All Progressives Congress (APC) in Koko/Besse Local Government Area of Kebbi State, have died while in captivity.

The deceased, Alhaji Muhammadu Mai Barga Besse, who previously served as APC chairman in the local government area, was reportedly held hostage by armed kidnappers for an extended period before his death. Another victim who was abducted alongside him was also confirmed dead, although his identity had not been officially disclosed at the time of filing this report.

The sad development comes months after disturbing videos emerged online showing the victims in dire conditions while being held captive in the notorious Birnin Gwari forest.

The footage sparked widespread concern among family members, political associates and members of the public who called for urgent intervention to secure their release.

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Despite efforts made during their captivity, both men were reportedly never reunited with their families before their deaths.

The incident has once again drawn attention to the persistent security challenges facing communities across northern Nigeria.

The Birnin Gwari axis, located along the Kaduna-Niger corridor, has become one of the country’s most dangerous regions, with criminal gangs and armed bandits frequently carrying out kidnappings, attacks on villages and other violent crimes.

Residents and stakeholders have repeatedly called on security agencies to intensify operations in the area and dismantle criminal hideouts within the vast forest, which has long served as a sanctuary for armed groups.

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News of the deaths has generated an outpouring of grief on social media, with many Nigerians expressing sadness over the fate of the victims and urging authorities to strengthen efforts against kidnapping and banditry.

Popular social media personality Denglishalhajii also shared the development on Instagram, mourning the victims and drawing attention to the growing insecurity affecting many parts of the region.

The deaths of the former APC chairman and his fellow captive have further underscored the human cost of the country’s security crisis, leaving families, friends and political associates in mourning while raising renewed concerns about the safety of citizens in vulnerable communities.

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Tinubu Seeks Constitutional Backing For State Police, Writes Senate

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President Bola Tinubu has asked the senate to approve a constitutional amendment bill seeking to establish state police across Nigeria as part of efforts to strengthen the country’s security architecture.

The request was contained in a letter dated June 15, 2026, and read on the floor of the senate on Tuesday by Godswill Akpabio.

In the correspondence, Tinubu said the proposed Constitution of the Federal Republic of Nigeria (Alteration) State Police Bill, 2026, seeks to amend the 1999 constitution to provide a legal framework for the creation of state police services.

The president said the bill is designed to address Nigeria’s evolving security challenges by introducing a dual policing structure that would allow both federal and state policing systems to operate within a constitutional framework.

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According to him, the proposal builds on previous legislative efforts by both chambers of the national assembly and contains additional safeguards to ensure effective implementation.

“This bill builds on the significant work already done in this regard by the House of Representatives and the Senate, and incorporates additional safeguards to ensure that the creation of a dual policing structure to address our nation’s evolving national security challenges, will be achieved quickly and effectively to the benefit of all Nigerians,” Tinubu said.

The president described the proposed legislation as a key component of his administration’s broader plan to reform Nigeria’s security system and improve the protection of lives and property.

“The proposed legislation is a critical component of our administration’s strategy to reorganize Nigeria’s security architecture to better protect our citizens, and I’m confident that the Senate will act quickly to consider and pass this bill,” he added.

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Tinubu urged lawmakers to give the proposal expeditious consideration.

Following the reading of the letter, Akpabio referred the bill to the senate committee on constitution review for further legislative action.

The committee was directed to report back to the chamber on the next legislative day.

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