LAGOS, Nigeria (VOICE OF NAIJA)-The Federal Competition and Consumer Protection Commission (FCCPC) says it is dedicated to protecting consumers, promoting fair competition, and ensuring product safety in the market.
Acting Executive Chairman, Adamu Abdullahi emphasised this commitment in an interview with journalists following a surveillance exercise at several steel companies in Lagos and Ogun States on Friday.
Abdullahi stated that intelligence and surveillance reports obtained by the commission indicated that some companies were engaged in anti-competitive behavior.
“This is why we decided to visit three of these companies to examine their operations, review their records, and analyse ten of their products.
“We aim to identify any false, misleading, and deceptive practices that could harm consumers,” he stated.
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He pointed out a significant issue with inconsistencies in product specifications.
“For instance, consumers purchasing 12mm rods often receive 10mm rods instead, which contributes to the building collapses we frequently witness.
“Ensuring the safety of our people is a core responsibility, and these deceptive practices are unacceptable,” said Mr Abdullahi.
He emphasized the importance of thorough inspections and maintaining transparency.
“We are looking at their processes to determine if any corners are being cut. If we find evidence of such practices, we will apply the full extent of the law,” he added.
Regarding collaboration with industry bodies, he mentioned that the FCCPC has been partnering with the Steel Manufacturing Association, the Manufacturing Association of Nigeria, and the Standards Organisation of Nigeria, among others.
He also noted that the Council for the Regulation of Engineering in Nigeria (COREN) has offered technical guidance to ensure the commission follows industry standards.
When asked about the timeline for the investigation, he explained, “The duration depends on the volume of information gathered. Some investigations have taken longer due to the sheer amount of data involved.”
Concerning market impact and possible penalties, he mentioned that sanctions would be determined by the nature of the offense and strictly adhere to the guidelines established in the FCCPC Act.