The Executive Vice Chairman/Chief Executive Officer of the Federal Competition and Consumer Protection Commission Adamu Abdullah has condemned the practices of individuals or groups to independently fix the prices of goods and services.

In a recent interview with DAILY POST Abdullah, discussed the rising prices of goods and explained that Nigeria operates a deregulated economy, which means there is competition among suppliers and manufacturers.

“FCCPC does not determine the prices of products because we don’t actually know the cost of production and whatever went in. However, we are doing everything possible to ensure that there is a level playing field for both manufacturers and consumers,” he said.

He highlighted issues such as associations fixing prices, stating “The practice is against the law. You don’t form an association and fix prices; that is illegal. Unfortunately, this has become a norm in this country.”

“If you go to a barbershop, for instance, you will discover something like the Barbers Association of Nigeria, and these persons fix prices for barbing, and it is against the law. This is because people should have different reasons for different prices,” Abdullah explained.

The FCCPC is working to disband such associations. “We are now working towards disbanding these associations. For instance, we called the Masaka market management recently, and they came here along with the chairman of the local government, and we had a very educational interaction,” he noted.

To educate the public, Abdullah mentioned plans to use FCCPC offices in all local government areas. “We are planning to use our offices in all the local government areas in the country, although we need more staff. However, if we have even a youth corps member with his laptop, you can get a lot from him,” he said.

Abdullah expressed optimism about CNG-powered vehicles reducing transportation costs. “The CNG that the government is now developing for our commercial vehicles will bring down costs by at least 60%, which is a plan for the future,” he said.

Addressing complaints about supermarkets displaying lower prices on shelves and charging higher prices at checkout, Abdullah said, “We, as a commission, have been addressing that. One of the biggest supermarkets in Abuja was recently sealed because of misleading or deceptive practices.”

On the recent tariff hikes by MultiChoice Nigeria Limited, Abdullah clarified that the FCCPC does not regulate prices but ensures a level playing field. “DSTV wrote a four-page letter explaining why their prices had to go up. They cited issues like the hike in electricity tariffs and the cost of diesel. They also complained about the forex,” he said.

Abdullah mentioned ongoing discussions with MultiChoice regarding pay-per-view and other consumer demands. “Customers have long demanded a pay-per-view. We followed up, and they agreed that people will be allowed to suspend their accounts at least four times a year,” he added.

Regarding the issue of a Chinese supermarket allegedly refusing to sell to Nigerians, Abdullah explained that the matter was more about security protocols than discrimination. “The estate has a chamber of commerce, the estate has a management at the gate, they control who comes into the estate. If you don’t have any business there, they won’t allow you in,” he said.

Lastly, Abdullah discussed the rising cost of building materials, especially cement. “Last week, all the cement companies in Nigeria were here. We sat with them for over 12 hours discussing the issue of what went into production. We brought in experts as our advisers so that when these people are talking, we can speak the same language,” he said.

The FCCPC is also investigating the iron rod market due to complaints about quality. “Instead of bending, it breaks. Even the thickness is something we have to look at. In this case, we have to work with the Standard Organization of Nigeria,” Abdullah concluded.