The Federal Competition and Consumer Protection Commission, FCCPC, has issued a strong caution to those involved in the food industry regarding unjustified increases in food prices. In a statement released by Dr. Adamu Abdullahi, the Acting Executive Vice Chairman of FCCPC, in Abuja on Friday, the Commission emphasized its intolerance towards price manipulation, warning of swift and severe legal consequences.
Abdullahi noted that the Commission’s monitoring activities indicated that entities at various levels of the food supply chain were colluding, engaging in price inflation, hoarding, and employing other unethical methods.
He further stated that players within the food industry were exploiting consumers’ concerns and vulnerability by inflating prices, describing such actions as reprehensible, dishonest, exploitative, and illegal. Abdullahi emphasized that any business found contributing to price manipulation in the food industry must cease immediately or face legal repercussions.
“The Commission’s primary focus remains on addressing critical issues of consumer protection and competition within the food sector,” Abdullahi stated, highlighting ongoing surveillance efforts revealing collusion, price inflation, hoarding, and other unfair practices among participants in the food distribution and retail sectors.
