The Federal Competition and Consumer Protection Commission (FCCPC) has launched a crackdown on market abuses in Lagos, with a focus on artificial price inflation, substandard goods, and deceptive practices.
The Executive Vice Chairman and Chief Executive Officer, Mr. Tunji Bello, announced the initiative at a Market Engagement Forum held in Lagos.
Represented by Mrs Bridget Etim, Principal Consumer and Business Education Officer, FCCPC, Mr Bello underscored the commitment of the commission to fostering fair competition and safeguarding consumer rights, as enshrined in the Federal Competition and Consumer Protection Act (FCCPA) 2018.
Mr Bello called for a collaborative approach with market leaders to establish new standards of integrity, where fair competition thrives and consumers can shop with confidence.
The FCCPC visited three iconic markets in Lagos: Mile 12, Alaba International, and Tejuosho markets. These markets are vital to Lagos’ economy and have significant consumer protection priorities as the commission through it’s surveillance identified several issues, including tampered scales, under-weighing, and the repackaging of spoilt or expired produce to appear fresh.
Mile 12, Lagos’s largest food hub, the commission tackled issues of tampered scales, under-weighing, the repackaging of spoilt produce, and suspected price-fixing of essential staples like rice, pepper, and yam.
Similarly, at Alaba International Market, a prominent electronics hub, the FCCPC addressed concerns related to the sale of counterfeit appliances, misleadingly labeled “Tokunbo” (fairly used) goods, false warranty claims, and coordinated price-fixing of electronics such as televisions, generators, and phones.
The FCCPC also visited the popular Tejuosho Market in Yaba area of Lagos popularity known for second hand wears and fabrics
“These are not minor issues. They affect household income, endanger consumer safety, and erode public trust ..“They violate key provisions of the FCCPA 2018, which prohibit deceptive practices and unfair pricing,” the FCCPC boss said.
The FCCPC boss who emphasized the need to prioritize consumer protection and fair competition in the markets said that the commission aims to commit to a new standard, where integrity is the norm, traders compete fairly, and consumers can shop with confidence.
Mr. Bello emphasized the importance of protecting the good name of markets. “Let’s show that Mile 12 is not just for food, but for fair dealings. Let Alaba be where electronics work. Let Tejuosho be known for honest textiles and true quality in every fabric.” The FCCPC’s initiative aims to promote a culture of integrity and fair competition in Lagos markets.
Market leaders expressed their readiness to work with the FCCPC to promote honest business practices and stop selling substandard goods. The Chairman of Mile 12 Market, Alhaji Shehu Jibril, highlighted the importance of farmer security and the need for investment in Compressed Natural Gas (CNG) trucks dedicated to transporting perishable items.
The Chairman of Alaba International Amalgamated Council of Sections, Chief Camilus Amajuoyi, expressed the market’s commitment to stopping the sale of bad goods and promoting honest business. He noted that most products in Alaba are indigenous and made locally, and that the market is ready to partner with the FCCPC to identify and catch those selling substandard goods.
The FCCPC’s crackdown on price inflation and substandard goods is a step in the right direction towards promoting fair competition and protecting consumers. The commission’s collaborative approach with market leaders is expected to lead to a shared vision of eradicating abusive and deceptive practices in the market.
Reporting by Chioma Ezike