By Ibrahim Muhammad The Federal Competition and Consumer Protection Commission (FCCPC) recently organized a one-day stakeholde...
By Ibrahim Muhammad
The Federal Competition and Consumer Protection Commission (FCCPC) recently organized a one-day stakeholders engagement in Kano to address the pressing issue of exploitative pricing in Nigeria ¹. This event brought together key stakeholders to discuss challenges and potential solutions to the problem.
Dr. Abdullahi Adamu, Executive Commissioner Operations, emphasized Kano's importance as a commerce center and the need to address man-made problems leading to exploitative pricing ¹. He noted that most farmers prefer cash crops, as revealed by the FCCPC survey in Dawanau market ¹. The commission is committed to finding lasting solutions.
Executive Chairman/CEO Tunji Bello stressed the urgency of addressing exploitative pricing, citing price fixing as an unethical practice across state markets ¹. The FCCPC is empowered by law to address exploitative pricing decisively.
The stakeholders engagement aimed to promote dialogue between market forces and regulatory bodies ¹. Bello encouraged open discussions to understand challenges faced by market stakeholders and find mutually beneficial solutions ¹. President Bola Tinubu's administration is committed to addressing problems, including tax removal and price issue mitigation measures.
A question-and-answer session allowed stakeholders to raise concerns and provide insights ¹. The FCCPC provided answers and clarifications, demonstrating its commitment to transparency and cooperation.
The commission's efforts aim to ensure fair pricing, protect consumers, and promote a healthy market environment ¹. By tackling exploitative pricing, the FCCPC promotes choice, ensures fairness, and alleviates hardships faced by Nigerian consumers.
The FCCPC's proactive approach, coupled with stakeholder engagement, is a crucial step towards achieving a more equitable and sustainable market ecosystem in Nigeria.
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