The Federal Competition and Consumer Protection Commission (FCCPC) has issued a regulatory guideline regarding the surge in transport costs during the festive period, stating that while price increases are not inherently illegal, the agency will move against operators who use the season to exploit Nigerians.
In a statement released on Sunday by the Commission’s Director of Corporate Affairs, Ondaje Ijagwu, the FCCPC addressed the growing public outcry over arbitrary fare hikes on inter-city routes. The commission acknowledged that “Seasonal demand, operational pressures, and other legitimate cost factors may affect transport pricing.”
However, the agency emphasized that price flexibility is not a license for lack of transparency. According to the statement, “consumers are entitled to clear, accurate, and timely information on fares before travel. Any fare adjustment must therefore be transparently communicated and applied fairly.”
The FCCPC further pointed out a contradiction in the current market, noting that “these complaints are arising at a time when there are reports of reductions in the pump price of premium motor spirit across parts of the country.”