FCCPC
Vows To Monitor, Investigate Price Hike.
Federal Competition and Consumer Protection Commission
has resolved to monitor and investigate unusual hikes in prices of goods and
services.
Ag. Executive Vice Chairman/Chief Executive Officer, Dr.
Adamu Abdullahi in a statement issued on Wednesday said it was unacceptable that
despite the recent appreciation of the Naira against the Dollar, consumers
continue to face escalating costs without a corresponding decrease in prices.
It added that while it cannot directly regulate prices,
the Commission would utilise its existing legal framework to enforce fair
competition and consumer protection provisions.
He maintained that the FCCPC understands the significant
financial strain these rising prices are placing on Nigerian households. As a
result, the Commission is taking proactive steps to address this issue.
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