President Bola Tinubu has directed the consumer protection agencies to ensure that the local prices reflect the rising value of the naira.
This is contained in a statement issued by the President’s special adviser on Media and Publicity, Ajuri Ngelale.
The presidency said, “Consumer protecting regulatory agencies must step up enforcement to ensure that our people are not short-changed by enterprises that fail to reflect the prevailing exchange rates on the pricing of goods and services across the board.”
It also assured Nigerians of better days ahead, saying the benefits of the reforms will be “more evident as the administration progresses.
While responding to the charge, the Executive Secretary of the Commission of the Federal Competition and Consumer Protection Commission (FCCPC), Dr Adamu Abdullahi unfolded plans to raid some open major markets on Friday in the FCT to checkmate the arbitrary increase in prices of consumables by traders
He further stated that the exercise is targeted at reducing the high cost of food commodities nationwide adding that the exercise will be extended to Lagos, Port Harcourt, Ibadan, Kano, Kaduna and other cities in the coming weeks.
Post comments (0)