The Federal Competition and Consumer Protection Commission (FCCPC) has described the astronomical increase in the prices of sachet water, popularly called pure water, as unacceptable.
FCCPC’s acting executive vice-chairman, Adamu Abdullahi, stated this at an event commemorating the 2024 World Consumer Rights Day in Abuja on Friday.
Mr Abdullahi said the astronomical increase in the price of sachet water by various associations is unfair to the consumers.
He said there was no reason for the increase in the price of sachet water because most of the producers already had their machines.
”Yes, power, fuel, and the price of nylon have increased, but that cannot explain the cause for the astronomical rise in price,” he stated.
Mr Abdullahi said the commission discovered that most products, including sachet water producers, have associations.
”When you have the eggs that you brought from your farm to sell at Wuse market, the association of egg sellers will tell you that you have to sell to them at cheaper rates while they resell to consumers at higher prices.
”This has now resulted in the emergence of ‘cartels,’ and cartels, anywhere in the world, are not acceptable,” the FCCPC boss said.
Stating that FCCPC’s act was against price fixing, Mr Abdullahi vowed that the commission would find cartels and “do something about their activities.”
” Consumers International joined the efforts that gave us an inkling of how prices have rolled in Nigeria in the last three months, and it is surprising and unacceptable.
”It is simply the issue of cartels, and we have to break in, find out what is going on, and dissolve such cartels. But, the consumers are the ones who will lodge the complaint to us before we go and find out,” he said.
The executive vice-chairman said that although the commission was not a price control agency, it was deeply committed to addressing the rapid rise in food prices, affecting consumers.
”The surge in food prices can be attributed to various factors, including market cartels, price fixing, hoarding, gouging, and a lack of transparency in pricing.
”FCCPC is actively engaged in combating these challenges to ensure fair pricing and protect consumers’ interests,” he said.
He said consumers’ extortion and deceptive pricing led to the sealing of the headquarters of a popular supermarket in Abuja recently, and the supermarket had complied with 90 per cent of FCCPC’s guidelines.
Mr Abdullahi assured that the commission would continue to monitor supermarkets to ensure effective consumer protection.
(NAN)
