THE Federal Competition and Consumer Protection Commission (FCCPC) on Tuesday said it has no plans to regulate prices in the Nigerian market.
FCCPC in a statement by its spokesman, Ondaje Ijagwu, clarified that its recent directives are solely aimed at curbing exploitative practices and maintaining a competitive marketplace.
The statement came in response to feedback from the Organised Private Sector and other stakeholders who expressed concerns over the commission’s recent directive to businesses to halt practices such as price gouging and price fixing.
Ijagwu emphasised that the agency’s duty is not to control prices but to ensure that the market operates fairly.