The Federal Competition and Consumer Protection Commission (FCCPC) has raised concerns about the presence of “cartels” in the market, alleging that these groups are artificially inflating the prices of goods and services in Nigeria. Adamu Abdullahi, the Acting Executive Vice Chairman of the commission, revealed this during an interview with Channels TV, highlighting the need for consumer protection regulations in the country.
Abdullahi pointed out that certain “small cartels” within the market are arbitrarily setting prices for various goods and services, disregarding differences in production costs across different regions.
He specifically mentioned associations formed by artisans like barbers or fish sellers as examples of groups involved in price manipulation, emphasizing that their actions do not favor consumers.
He stated, “These associations that say, for example, National Association of Nigeria Barbers have set a price for a haircut. Whenever you have a haircut, this is how much you’re going to pay. These groups are not supposed to discuss pricing.”
Additionally, Abdullahi addressed the issue of overbilling by electricity distribution companies (Discos) for unmetered customers.
He mentioned that the FCCPC is collaborating with the National Electricity Regulatory Commission (NERC) to ensure fair billing practices through regulatory frameworks and penalties for violations.
He highlighted ongoing efforts by the FCCPC to address consumer complaints and enforce regulations, including conducting complaint desks in various locations and working with NERC to cap estimated billing. Abdullahi emphasized the importance of resolving billing discrepancies promptly and ensuring compliance with regulations.
