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FCCPC urges retailers to promote fair business practices, price transparency
The Federal Competition and Consumer Protection Commission (FCCPC) has urged organisations dedicated to consumer welfare and business-to-customer relationships to promote fair business practices.
Its Executive Secretary, Dr Adamu Abdullahi, made the appeal during an engagement between the FCCPC and the National Association of Supermarket Operators of Nigeria/Retail Council of Nigeria on Thursday in Lagos.
Abdullahi noted that the commission had identified concerns in the retail sector, especially regarding the inconsistent display of prices, which had led to discrepancies between shelf prices and the final amount charged at the till.
To address this, the executive vice chairman urged supermarkets to maintain price transparency and consistency, recognising that trust and market integrity hinge on this critical aspect.
He explained that while the FCCPC does not regulate prices, it has a mandate to promote fair competition and discourage price gouging and unfair pricing practices.
Abdullahi said, “We don’t control prices. But we ensure that there is a level playing field so that the market is open and people can come in, display their wares, and sell at their own prices.
“The price dictates whether you sell your products or not, as far as we’re concerned.
“We feel that it’s only fair that if the government is trying its very best to bring down the Naira exchange value, then those efforts should also be rewarded by retailers by bringing down the cost of items.”
By upholding consumer rights and fostering a competitive marketplace, the FCCPC boss added that the commission aimed to create a conducive environment for both businesses and consumers to thrive.
According to him, the commission is dedicated to enforcing compliance with the law, particularly the Standards Organisation of Nigeria (SON) Act, to eradicate deceptive and misleading marketing practices that undermine competition.
“That’s why we’re here today. The concerns we have in the retail business, especially the formal sector, is this issue of price display on products.
“This has been a major concern for us because it is what has already led to the ceding of a major supermarket in Abuja.
“This is because the price displayed at the counter is different from the one you pay at the till. And that’s misleading and deceptive as far as the regulations are concerned.”
Abdullahi hinted that the FCCPC had agreed to form a small technical committee that would look at a Memorandum of Understanding, its draft, and how to work together henceforth.
“We are going to have a lot of capacity building amongst ourselves so that we understand each other, we understand them from the side of businesses.
“They understand us from the side of regulators. That way, we would have a lot of mileage, ” he added.
Dr Haresh Keswani, Chairman of the National Association of Supermarket Operators of Nigeria/Retail Council of Nigeria, commended the FCCPC boss for his time and open-mindedness in understanding the importance of retail in Nigeria.
Keswani, also the Managing Director of Atee Industies, known as SPAR, said his members were law-abiding companies and they continued to be focused on the consumer, just like the FCCPC.
“As you know, the current retail is the second generation. The first generation died many years ago in the brands of Kingsway, UTC, and all that.
“And the second-generation retails, which are several brands, have been built over many years and are also currently struggling to stay in business. And you all know the reason why they are struggling. Because being compliant in Nigeria is expensive.
“To pay salaries on time, to make sure you pay your taxes, you pay your power energy bills, and you follow the rules is an expensive proposition,” he said.
To this end, he noted that the essence of the engagement with the FCCPC was to work on the value chain.
Keswani added, “In this value chain, all four pillars are stakeholders. And we all equally have to do our own bit. I cannot be a midfielder, a defender, a striker, and a goalkeeper.
“We all have a role to play. So this is team play. This is teamwork.
“And we are clearly focused on wanting the retail business to grow. And we want the consumer to get the best value. But equally, not without everyone stepping onto the ground and playing the game.”
The National Council for Women Societies (NCWS) has warned students against the dangers of drug abuse and urged schools to prioritise prevention initiatives to combat the growing trend.
The council made the call at an awareness campaign held at Federal Science and Technical College, Orozo, Abuja, to commemorate World Drug Day.
Acting National President, Geraldine Etuk, emphasised the crucial role schools play in shaping students’ attitudes and behaviours towards substance abuse.
She stressed the importance of investing in prevention programs within educational institutions to raise awareness, provide support, and foster a drug-free environment for students.
The campaign’s theme, ‘The Evidence is Clear, Invest in Prevention,’ highlighted the need for proactive measures to address drug abuse among young individuals.
“As a society, we cannot afford to overlook the devastating consequences of drug abuse, especially among our youth.
“It is important that we take proactive measures to prevent and address this issue effectively,” she said.
Ms Etuk also appealed to school administrators to collaborate with local authorities, healthcare professionals and community organisations to create a network of resources to address the multifaceted aspects of drug abuse.
Superintendent of narcotics at the National Drug Law Enforcement Agency, FCT Command, Nduka Augustine, utilised visual aids to showcase the adverse effects of various drugs.
Augustine said the visuals aimed to dissuade students from engaging in such harmful practices.
He advocated for the implementation of comprehensive drug prevention programmes encompassing education, counselling and support services for students at risk of substance abuse.
The Lagos State Government on Monday has announced plans to unveil a Labour Management Information System aimed at tackling unemployment in the state.
The system, which has been in production for a year, will be launched at the Lagos Employment Summit scheduled for July 3 at Victoria Island, Lagos.
According to the Acting Executive Secretary of Lagos State Employment Trust Fund (LSETF), Feyisara Alayande, the initiative is designed to provide a platform for job seekers and employers to access employment data and connect with each other.
“We are launching a labour management information system.
“It’s a system that has been in production for a year. Our focal point is making sure that anybody who needs data around employment has a place to go.
“As a job seeker or employer, we call on everyone who wants a job or who wants to hire somebody to look out for us or go to the platform -labour management information system.”
Alayande also reiterated Gov. Babajide Sanwo-Olu’s commitment towards empowering the Small and Medium Scale Enterprise (SME) community.
“The agency had disbursed N10 billion to SMEs, trained 220,000 people in various entrepreneurial skills, and supported 500,000 businesses across various sectors in the state,” she said.
The Special Adviser to the Governor on Media and Publicity, Mr Gboyega Akosile, said the summit was in line with the developmental agenda of the government to create value and wealth.
He said it was also to scale up businesses in the state and urged residents to key into the programme.
Lagos State Government has called for more support from Tertiary Education Trust Fund (TETFUND) to state-owned universities.
It also emphasised the need to make the intervention fund more accessible.
Gov. Babajide Sanwo-Olu made the appeal while receiving some members of the Federal House of Representatives Committee on TEDFUND, at the Lagos House, Ikeja.
The committee was led by the Chairman, Mrs Miriam Onuoha.
Recall that TETFUND was established as Education Trust Fund by the Act No. 7 of 1993 as amended by Act No. 40 of 1998 (now repealed and replaced with Tertiary Education Trust Fund Act 2011).
The governor commended the committee for its commitment to identifying and resolving gaps and issues regarding over N4.5 billion intervention fund for Lagos State tertiary institutions.
“Our Lagos State Polytechnic which is now, by the approval of the NUC, Lagos State University of Science and Technology, has since metamorphosed into a university and our college of education, is now Lagos State University Education.
“Because the two of them are now full university, we need additional funding for them.
“By the time you come next year, we will have an additional institution, university of medicine. We need to produce more doctors and nurses,” Sanwo-Olu said.
The Chairman of House Committee on TETFUND, Onuoha, said that over N200 billion from 2017-2023 was unaccessed by tertiary institutions in Nigeria.
She said that the development informed the oversight visit to resolve impediments to enable the affected institutions to access the funds to bridge infrastructure gap and guard against education tourism.
“We need to inform tertiary institutions about the accumulated unaccessed TETTFUND intervention.
”The committee embarked on its annual oversight to the TETTFUND agency.
“In the cause of our job, we found out that some institutions were behind in accesssing TETTFUND intervention.
“We have resolved to make the process of accessing this funds less cumbersome.”
Lagos State Commissioner for Tertiary Education, Mr Tolani Sule, commended the committee for making the process of accessing the funds less difficult.
“We are grateful to the TETFUND committee chairman and her colleagues for coming to our state and going round our nation to see why most of our institutions are not accessing the funds fully.
“From the conversation we have had here today, we have seen that there are some regulations, TETFUND law, that made the access a bit difficult, and they have assured us that we will go back and have a meeting and see how the regulations can be relaxed.
“There is no institutions that will not want to take advantage of assistance, but where regulations are making it difficult, they won’t be able to meet up,” Sule said.
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NCWS warns students against drug abuse, urges schools to prioritise prevention
