The Centre for the Promotion of Private Enterprise has warned the Federal Competition and Consumer Protection Commission – against what it describes as the “intimidation” of retailers across Nigeria.
In a statement released on Sunday by the Director/CEO of the CPPE, Dr. Muda Yusuf, the organization expressed concerns over the Commission’s recent actions, which it believes are veering dangerously close to price control rather than focusing on its primary mandate of protecting consumers’ rights.
Yusuf argued that the FCCPC appears to be transforming into a “price control agency” instead of upholding its duty as a consumer protection body.
He emphasized that consumer protection should not involve direct price control at the retail level; describing the recent threats to market leaders, traders and supermarket owners by the Commission – as misplaced.
According to the CPPE, the retail sector, characterized by millions of players, is one of the least vulnerable to price gouging.
He further explained that the multitude of players in the retail sector ensures a competitive environment where exploitation was difficult to sustain.
Yusuf highlighted that the best way to protect consumers from exploitation was to promote competition across sectors, as seen in the telecoms industry and not through price control
.