DAILY POST
The Federal Competition and Consumer Protection Commission has vowed to probe market leaders across the country over exploitative food prices
The Executive Vice Chairman/Chief Executive Officer disclosed this in a statement on Monday.
The commission said the move is under its establishment Act 2028 Sections 17(l) (s),116 (2),124,125,138 and 155.
The statement read, ‘This is to checkmate exploitative pricing of consumer goods in Nigeria.
“While it is recognized that the exchange rate has impacted the value of the Naira, it is, however, observed that prices charged are, in most cases, disproportionate for imported products and excessive for locally produced ones.
“This unfair practice is prevalent in the retail segment of the distribution chain where some market associations are engaged in price fixing at the expense of consumers.
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