The Federal Competition and Consumer Protection Commission (FCCPC) has strongly criticized the alarming increase in the price of sachet water, branding it as unjustifiable. Adamu Abdullahi, the Acting Executive Vice-Chairman of FCCPC, conveyed this stance during the commemoration of the 2024 World Consumer Rights Day in Abuja on Friday, shedding light on the theme for this year’s event, “Fair and Responsible Al for Consumers,” as reported by the News Agency of Nigeria (NAN).
Abdullahi expressed deep concern over the significant surge in sachet water prices attributed to various associations, asserting that such hikes unfairly burden consumers. He argued that despite escalating costs of power, fuel, and nylon, there was no valid rationale behind the exorbitant price increments, especially considering that many producers already possess necessary equipment.
The FCCPC official pointed to the formation of product associations, including those representing sachet water producers, as contributors to the price surge, condemning the emergence of “cartels” manipulating prices for their benefit. He stressed that such practices contradict the FCCPC’s mandate against price fixing and are detrimental to consumers.
Abdullahi highlighted the collaboration with Consumers International, providing valuable insights into Nigeria’s escalating prices over the past three months. He reaffirmed FCCPC’s commitment to investigating and dismantling these cartels upon receiving consumer complaints.
While clarifying that FCCPC isn’t a price control agency, Abdullahi underscored the commission’s dedication to addressing the alarming rise in food prices, caused by various factors such as market cartels, price fixing, hoarding, and lack of pricing transparency. He emphasized FCCPC’s proactive stance in combating these challenges to ensure fair pricing and protect consumers’ interests.
Addressing recent incidents of consumer exploitation and deceptive pricing, which led to the sealing of a prominent supermarket in Abuja by the commission, Abdullahi noted the supermarket’s compliance with 90% of FCCPC guidelines. He assured continued monitoring of supermarkets to uphold effective consumer protection standards.
The FCCPC’s condemnation of skyrocketing sachet water prices underscores the commission’s commitment to safeguarding consumer interests and promoting fair market practices in Nigeria.
Credit: News Agency of Nigeria (NAN)
I do not even know how I ended up here but I thought this post was great I dont know who you are but definitely youre going to a famous blogger if you arent already Cheers.