Business

FCCPC warns wholesalers, retailers against food price hike

The Federal Competition and Consumer Protection Commission (FCCPC) has issued a stern warning to participants in the food chain sector, cautioning against arbitrary increases in food prices.


Dr. Adamu Abdullahi, the Acting Executive Vice Chairman of FCCPC, emphasized that the commission would not tolerate price gouging, with swift and severe legal consequences awaiting violators.


FCCPC’s surveillance efforts revealed evidence of participants at distribution and retail levels engaging in conspiracies, price gouging, hoarding, and other unfair tactics. Abdullahi expressed concern that some actors in the food chain sector were exploiting consumer anxiety to inflate prices, labeling such actions as obnoxious, unscrupulous, exploitative, and illegal.