The Federal Government on Thursday initiated sporadic enforcement raids at multiple supermarkets and markets within the Federal Capital Territory to ensure adherence to price display and quantity regulations, aiming to reduce the cost of food commodities nationwide.
It also said it would continue unannounced inspections at super and open markets in Lagos, Port Harcourt, Kaduna, and Ibadan in the coming weeks to probe the abnormal price surges and take firm measures against any companies caught engaging in unfair market practices like price manipulation, excessive pricing, or cartel formation.
The Executive Secretary of The Federal Competition and Consumer Protection Commission, Dr. Adamu Abdullahi, said this when he conducted an enforcement exercise to eliminate grocery store price gouging and illegal pricing schemes.
During the exercise that lasted several hours, the FCCPC sealed 4U Supermarket and evacuated 33 bags of fake stallion and caprice rice filled with weevils from one of the branches of the same supermarket located at 58 Adetokunbo Ademola Crescent, Wuse II.
Earlier on Wednesday, the commission had ordered its operatives to intensify monitoring of both formal and informal markets to identify businesses engaged in unnecessary inflation of prices for required enforcement action.
