The Federal Competition and Consumer Protection Commission (FCCPC) has said its enforcement activities are not designed to punish or unnecessarily stifle businesses but to ensure that the rights of Nigerian consumers are protected.
The agency also disclosed its intention to ensure that businesses clearly display the prices of goods and services in the nation’s currency as a means of promoting transparency.
The Commission’s Executive Vice Chairman, Dr Tunji Bello, stated this in his keynote address at the FCCPC/Lagos State Consumer Protection Agency (LASCOPA) Stakeholder Engagement held in Lagos.
The FCCPC boss, who was represented by the Commission’s South-West Zonal Coordinator, Olubunmi Dorcas Otto, said the stakeholder engagement, organised in partnership with LASCOPA, provided an opportunity to discuss three issues affecting consumers and businesses daily: price tagging, minimum labelling requirements, and return and refund obligations.
Describing price tagging as not merely a good business practice but a basic requirement of fairness, the Commission’s Executive Vice Chairman said consumers should know the cost of an item before deciding whether to purchase it.
According to him, the law requires businesses to clearly display the prices of goods and services in the currency of the Federal Republic of Nigeria, as this promotes transparency, enables consumers to compare prices, reduces disputes and strengthens confidence in the marketplace.
On labelling, Bello said consumers deserved to know what they were buying, adding that product labels should clearly identify the product, the manufacturer and, where appropriate, its contents, among other relevant information.
He explained that Lagos was chosen for the engagement because of its status as the nation’s commercial nerve centre, with millions of transactions conducted in the state daily.
Speaking at the event, the Director-General and Chief Executive Officer of LASCOPA, Afolabi Solebo, said Section 60(1)(b) made it an offence for any person to sell products without providing consumers with the required information.
According to him, consumers have the right to be informed about the quality, quantity, potency, purity, standard and price of the goods and services they purchase.
‘Section 2(b) of the Lagos State Consumer Protection Agency Law, 2025, explicitly guarantees every consumer the right to be informed about the quality, quantity, potency, purity, standard and price of goods and services, as the case may be, in order to protect consumers against unfair trade practices.
‘Clearly displaying prices on goods and shelves is the practical way to give effect to this right,’ he added.