The Federal Competition and Consumer Protection Commission (FCCPC) had declared an intensified crackdown on exploitative pricing, deceptive market practices and supply manipulation across multiple sectors of Nigeria’s economy.

The commission said said the move was part of efforts to safeguard consumers and sustain emerging economic stability.

The crisis in the Middle East region has increased the cost of goods and services following the drop in the global supply of fuel and the resultant hike in transport fares across Nigeria.

Speaking at a media briefing at the Presidential Villa in Abuja, executive vice chairman and chief executive officer of FCCPC, Mr Tunjji Bello said the commission had already commenced investigations into pricing practices in sectors, including cement, pharmaceuticals, baby formula, domestic aviation, and food distribution networks.

The FCCPC chief emphasised that while Nigeria operates a free-market system where profit-making is legitimate, the Commission will not tolerate practices that exploit consumers or artificially drive inflationary pressures.

Bello clarified that the commission does not regulate prices directly but intervenes when market practices cross into exploitation.

“It is important to emphasise at the outset that the FCCPC does not control prices. Nigeria operates a free-market economy, and profit-making is legitimate.

“However, where market conduct crosses into the territory of exploitation or unfair practices, the Commission is empowered to intervene,” he said.

According to him, such intervention becomes necessary when businesses engage in conduct that artificially inflates prices or deceives consumers.

“In such cases, the FCCPC acts against conduct that artificially drives inflationary pressure, including exploitative pricing, deceptive re-packaging, supply manipulation and artificial scarcity,” Bello said.

The FCCPC boss disclosed that Nigeria’s inflation trajectory had begun to moderate significantly following months of elevated price pressures.

He cited recent data from the National Bureau of Statistics (NBS) showing a major drop in headline inflation.

“Data released by the National Bureau of Statistics indicate that headline inflation, which rose significantly through 2024 and peaked above 34 percent in 2025, has come down significantly to around 15 percent.

“This development reflects a number of macroeconomic adjustments, including relative stability in foreign exchange conditions, improved supply in certain consumer goods markets, and evolving energy price dynamics,” he added.

The CEO attributed the improving economic indicators partly to the reform programme of President Bola Ahmed Tinubu.

“Without a doubt, this positive signal is attributable to the bold economic reforms initiated by President Bola Ahmed Tinubu,” he said.

The FCCPC chief noted that the Commission’s role is to ensure that improvements in macroeconomic conditions translate into real relief for consumers.

Bello disclosed that the commission had undertaken several enforcement actions across the country, following investigations into unethical commercial practices.

According to him, some warehouses in Kano were sealed after investigators uncovered deceptive product measurements in the textile market.

“As a matter of fact, following weeks of discreet investigations, we had cause to seal off some warehouses in Kano in November 2025 for stocking and selling fabrics that fell short of the measurements on the label.

“Sanctions were imposed on the violators, and they were made to undergo a remedial process, including giving a firm undertaking never to engage in such unethical practices again,” he said.

The commission also assisted consumers in recovering significant sums through dispute resolution mechanisms.

“In championing the cause of Nigerian consumers, the Commission assisted in recovering over N10 billion between January and October 2025 alone by way of helping consumers get refunds through dispute resolution,” he said.

Bello explained that FCCPC’s nationwide network of offices enables rapid response to consumer complaints.

The FCCPC chief also disclosed that the Commission recently sealed the headquarters of an electricity distribution company over violations of consumer rights.

He said the commission had also intervened in cases involving property developers who failed to deliver houses after collecting payments from buyers.

Highlighting recent legal successes, the FCCPC chief said the Commission secured landmark judicial victories in 2025 that strengthened its regulatory authority.

“In February 2025, the Lagos Federal High Court affirmed the Commission’s authority to regulate competition and consumer protection in Nigeria.

“That singular judgment solidified the Commission’s power as the lead regulator across all sectors in Nigeria,” he said.

Bello also cited the tribunal ruling against Meta Platforms and WhatsApp.

“In April 2025, the Competition and Consumer Protection Tribunal ruled in favour of the FCCPC in the appeal filed by Meta Platforms Incorporated and WhatsApp LLC.

“The tribunal upheld the commission’s decision, including the imposition of a $220 million administrative penalty and $35,000 investigation cost,” he said.

He said the commission is currently probing airline pricing practices following widespread complaints from Nigerian travellers.

According to the interim report released two weeks ago, the difference between peak and off-peak fares was substantial.

“On certain routes, the difference between peak and post-peak fares reached approximately between ₦405,000 and ₦650,000 per ticket,” he said.

He warned that airlines could be ordered to refund passengers if exploitative pricing is confirmed.