Indiscriminate Hikes in Sachet Water Price Unacceptable – FCCPC
Comment
Today’s News – The high price of sachet water prices has become unacceptable by the Federal Competition and Consumer Protection Commission (FCCPC).
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This was said by Dr. Adamu Abdullahi, the FCCPC’s acting executive vice-chairman, on Friday during an event in honor of World Consumer Rights Day (2024) in Abuja.
The theme of this year’s celebration is “Fair and Responsible Al for Consumers,” according to the News Agency of Nigeria (NAN).
Abdullahi claims that the numerous associations’ outrageous price increases for sachet water are unjust to customers and are unacceptable.
Given that the majority of producers already owned their equipment, he claimed there was no justification for the price increase of sachet water.
“Yes, the cost of fuel, electricity, and nylon has gone up, but that doesn’t explain why the price has increased so dramatically.”
We’ve found that most products, including those that produce sachet water, now have associations.
“The association of egg sellers will tell you that you have to sell to them at lower rates while they resell to consumers at higher prices when you bring your eggs from your farm to sell at Wuse Market.
“We oppose price fixing, and we will not tolerate it in our act. We are going to investigate these cartels and take action against their operations.
“Consumers International participated in the initiatives that offered us a glimpse of the shocking and intolerable price spiral that has occurred in Nigeria over the past three months.
“It’s just a cartel problem; we need to infiltrate, investigate, and dismantle these cartels. However, before we go and find out, it will be the customers who file the complaint with us,” he stated.
Despite not being a body that sets prices, the commission was firmly committed to tackling the sharp increase in food costs that was having an impact on consumers, stated the acting executive vice chairman.
Several factors, such as market cartels, price fixing, hoarding and gouging, and a lack of pricing transparency, are to blame for the increase in food prices.
“The FCCPC is proactively addressing these issues to guarantee equitable pricing and safeguard the welfare of consumers,” he declared.
Regarding the coercion of customers and misleading pricing, which resulted in the commission recently closing a well-known supermarket’s Abuja headquarters, he stated that the store had complied with 90% of their regulations.
Abdullahi gave his word that the commission would keep an eye on supermarkets to make sure that customers were effectively protected.
