The acting Executive Vice Chairman and CEO of the Federal Competition and Consumer Protection Commission (FCCPC), Adamu Abdullah, discussed the rising costs of goods and services, issues with MultiChoice Nigeria’s tariff hike, and other pressing concerns in an exclusive interview Sunday.

“Due to government policies, the prices of goods have surged, making it difficult for consumers to afford basic aims to ensure fair competition among manufacturers and suppliers, despite not regulating prices directly”

Market associations are illegally fixing prices by preventing new entrants from selling unless they comply with their terms, contributing to high prices.

Price-fixing by associations is illegal. The FCCPC is working to dismantle these groups and educate them about the law.

The FCCPC plans to use local offices and youth corps members to educate consumers and monitor prices across the country.

The government’s initiative to introduce Compressed Natural Gas (CNG)-powered vehicles aims to reduce transportation costs, which will help lower prices.

Supermarkets displaying lower prices on shelves but charging higher at checkout are being investigated and penalized. Recent actions have led to better compliance among major supermarkets.

While the FCCPC doesn’t regulate prices, it ensures fair competition. MultiChoice cited increased operational costs for their tariff hike. The FCCPC is discussing improvements like account suspension options and channel selection to justify the price increase.

An investigation revealed no discriminatory practices at a Chinese supermarket but highlighted issues with displaying prices in Yuan. The FCCPC is working to resolve these matters with the Chinese embassy.

Recent hikes in cement prices prompted the FCCPC to meet with manufacturers to understand production costs. The commission is also investigating the quality issues in the iron rod market affecting construction safety.