The Federal Competition and Consumer Protection Commission (FCCPC) and the Lagos State Consumer Protection Agency (LASCOPA) have stepped up efforts to address unfair practices in marketplaces, with a renewed focus on price tagging, product labelling and businesses’ obligations to honour returns and refunds where applicable.
The initiative was unveiled on Wednesday during a stakeholders’ engagement organised by both agencies in Ikeja, Lagos, as regulators sought greater compliance with consumer protection laws through dialogue with businesses.
Speaking at the event, the Executive Vice Chairman of the FCCPC, Tunji Bello, said consumer confidence remains central to a healthy marketplace, particularly in Lagos, Nigeria’s commercial hub, where millions of transactions take place daily across markets, supermarkets, shopping malls, neighbourhood stores and online platforms.
Mr Bello, represented by the FCCPC’s South-west Coordinator, Olubumi Otti, said those transactions not only drive economic growth and create jobs but also depend on trust between businesses and consumers.
“Consumers must be confident that the price they see is the price they will pay,” he said.
