In a move geared towards promoting fair competition and ensuring consumer protection, the Federal Competition and Consumer Protection Commission (FCCPC) has entered into a strategic alliance with the National Sugar Development Council (NSDC).
This disclosure was made by the executive vice chairman of FCCPC Mr. Babatunde Irukera, during a Strategic Media Engagement event in Abuja under the theme: “Reflection On The Road So Far And Road Ahead.”
Irukera highlighted the primary goal of the alliance as establishing a level playing field in the sugar market to guarantee consumers more equitable pricing. The collaboration, he explained, would involve sharing crucial information derived from fieldwork feedback conducted by the Commission.
Underlining the importance of a well-regulated competitive market, Irukera stressed the interconnectedness of business success and survival with such environments.
He expressed the agency’s commitment to ensuring consumer access to high-quality products at reasonable prices, whether imported or locally produced.
He also provided insights into the FCCPC’s budgetary journey since 2017, detailing government allocations, IGR, and the agency’s autonomy since January 1, 2023.
Irukera explained that the agency got N1billion in 2017, as budget from the government and generated N154 million as IGR in that year.
He said the Commission got N3.3 billion, and N1.3 billion as government budget in 2018 and 2019 respectively, while it realised N377 million as IGR in 2019.
He further disclosed that in 2020, the Commission’s budget from the government was N887 million and it got an IGR of N864 million.
“By 2021, the government approved a budget of N1.8 billion to the Commission and the agency generated N4 billion and remitted N1.6 billion.
“As a matter of fact, what the government released from the treasury that year for the agency was N1.3 billion, so the agency gave the government more money than it got from it.
“In 2022, the government budget was N1.3 billion for the agency, the agency did not touch a single kobo of the operational or capital expense, the agency made N5.2 billion and remitted N2.6 billion.
“In 2023, our IGR is N56 billion and we remitted to the government N22.4 billion,” he said.
He reiterated the call for companies to establish independent complaints resolution platforms, encouraging responsible business practices.
Underscoring the crucial role of journalists in fostering accountability, Irukera emphasised the significance of the partnership in holding companies accountable.
