FG Commences Price Enforcement In Abuja, Targets Lagos, Others

The Federal Government on Thursday began sporadic enforcement raids at several supermarkets and markets within the Federal Capital Territory to ensure adherence to price display and quantity regulations, aiming to reduce the price of food commodities nationwide.

It also added 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 ran for 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.

This move is a response to concerns raised by consumers about the rising costs of goods, which go against the recent strengthening of the naira.