The Federal Government has said it is committed to reducing prices of foodstuffs in the Nigerian market.The disclosure was made in a statement by the Federal Competition and Consumer Protection Commission on Tuesday.In the statement, Ondaje Ijagwu, the Director, Special Duties and Strategic Communication of FCCPC, clarified the recent directives by the commission.
The commission acknowledged external factors impacting pricing but said that these do not justify unfair practices exploiting consumers.Ijagwu highlighted a recent example in the cement industry where dealers inflated prices despite efforts to sell at a fair price.“Abdul Samad Rabiu, Chairman of BUA Cement, disclosed that despite efforts by his company to sell cement at a fair price of N3,500 per bag, dealers inflated prices to as much as N7,000 to N8,000 per bag.