The Federal Competition and Consumer Protection Commission (FCCPC) is not a Price Control Board, the Executive Vice Chairman, Mr. Tunji Bello, has said.
He spoke at the 2025 World Consumer Rights Day celebration today, in Abuja.
According to him, there has been a misconception among some members of the public who expect the FCCPC to act as a Price Control Board, insisting that the commission had no such mandate.
His words, “Permit me to briefly respond to a very concerning trend. Which is what I consider the misconception of the role of FCCPC in some quarters. I observe this tendency among some of our commentators in the media space who misunderstand the provisions of the law and inadvertently mislead the public.
“To be sure, Sections 17 and 18 of the Federal Competition and Consumer Protection Act (FCCPA) 2018 expressly vest the Commission with the statutory authority to regulate competition and consumer protection across all sectors in our national life which is consistent global best practices.
“This notion was, in fact, recently affirmed by the court of competent jurisdiction. In one word, the law charges the FCCPC to champion the rights of consumers of goods and services in Nigeria.
“It is, therefore, very disturbing to hear or read parochial arguments of those who, out of ignorance of the law, seek to erect walls of sophistry against FCCPC in its discharge of this clear mandate.
“The Commission has never claimed or pretended to be a price control board. Rather, we get involved when the rights of consumers are breached or when the market is being manipulated in a manner that impedes fair competition.”
He said that the celebration was an opportunity for the FCCPC officials to rededicate themselves to championing the interests of the Nigerian Consumers.
He said, “By the FCCP Act of 2018, our mandate is clear. Which is the promotion and protection of the interests and welfare of consumers by ensuring fair competition and ethical business practices. In the context of a just transition, this means.
Ensuring affordability and accessibility. That is, sustainable choices should not be expensive or difficult to access; they should be within the reach of all consumers.
Empowering consumers. That is, providing accurate information and raising awareness about the impact of their choices, so that they can make informed decisions.
Holding businesses accountable. That is, ensuring that industries comply with environmental and ethical standards while preventing deceptive marketing of so-called ‘green’ products.
Driving innovation and fair competition. That is, encouraging businesses to develop sustainable products and services while ensuring a competitive market that benefits consumers.
Protecting vulnerable communities. That is, ensuring that low-income groups are not disproportionately burdened by the costs of the transition to sustainability.”
Mr. Bello said the theme for this year’s celebration “A Just Transition to Sustainable Lifestyles” was apt considering the existential challenges facing humanity across the world at the moment.
He observed that most countries were contending with inflationary trend which has been traced to the economic disruption occasioned by COVID 19 of 2020 and Russian-Ukrainian war which brought fresh disruption to the global food supply chain, thus worsening the plight of consumers of goods and services.
According to him, “Against this backdrop, it is therefore a matter of necessity that we rethink our choices and fashion new coping strategies to adapt to new realities.
“Looking ahead, the world is undoubtedly moving towards a greener, more sustainable ways of living. The overarching challenge is ensuring that no one is left behind. Sustainability should not be a privilege for a few, but a right for all.
“A just transition means making sustainable products and services affordable, accessible, and fair to consumers while ensuring that businesses and industries uphold responsible practices.”
