The Federal Government, through the Federal Competition and Consumer Protection Commission, will begin to roll out sanctions against members of trade associations guilty of anti-competitive practices, indiscriminate and irrational hike of food prices.
Chief Executive Officer of the FCCPC, Babatunde Irukera, said this on Tuesday during a forum organised by the commission to discuss fair food prices.
The forum was titled ‘Fair food prices in Nigeria: A high-level forum for better competition’.
He said, the agency will continue to monitor the market, and where it was discovered that prices are excessive or find exploitative conduct, or find that consumers are being taken advantage of, there will be an intervention