{"id":92505,"date":"2023-07-19T20:50:33","date_gmt":"2023-07-19T19:50:33","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/fuel-hike-fccpc-vows-to-clamp-down-on-anti-competitive-food-prices"},"modified":"2023-07-19T23:02:08","modified_gmt":"2023-07-19T22:02:08","slug":"fuel-hike-fccpc-vows-to-clamp-down-on-anti-competitive-food-prices","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/fuel-hike-fccpc-vows-to-clamp-down-on-anti-competitive-food-prices","title":{"rendered":"Fuel hike: FCCPC vows to clamp down on anti-competitive food prices"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>Amid hikes in fuel pump prices, the Federal Competition and Consumer Protection Commission (FCCPC) says it is critical to address the anti-competitive conduct by market associations that negatively impacts food prices.<\/p>\n

According to NAN, FCCPC Executive Vice-President, Mr Babatunde Irukera, disclosed this at a \u201cFair Food Prices in Nigeria, Multi-Stakeholder Workshop\u201d on Wednesday.<\/p>\n

According to him, trade associations, in many aspects, have constituted themselves into cartels which are illegal.<\/p>\n

He said that such associations\u2019 focus should be on members\u2019 standards and welfare, noting that they were not to determine prices.<\/p>\n

\u201cWe have no control over monetary policies, but the role we play is that we will continue to monitor the markets. We will intervene when we find excesses due to exploitative conduct, taking advantage of consumers.<\/p>\n

\u201cOne of the ways of intervening is unlocking whatever the bottlenecks are. Associations that come together to determine what price commodities should be sold, or those that form cartels to stop Nigerians from being part of any business, will not be allowed.<\/p>\n

\u201cWe will proceed against them as we proceed against those multinationals in their trade associations; we will proceed against even the small guys in the market, but what is important is these things, no matter how small they are, whatever those supplies are must still be available,\u201d he said.<\/p>\n

The pump price of fuel was increased from N539 to N617 per litre on Tuesday.<\/p>\n

Earlier, the National Bureau of Statistics said June\u2019s headline inflation stood at 22.79 per cent on Monday in its latest Consumer Price Index.<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. Amid hikes in fuel pump prices, the Federal Competition and Consumer Protection Commission (FCCPC) says it is critical to address the anti-competitive conduct by market associations that negatively impacts food prices. According to NAN, FCCPC Executive Vice-President, Mr Babatunde Irukera, disclosed this at a \u201cFair Food Prices in Nigeria, Multi-Stakeholder Workshop\u201d on […]<\/p>\n","protected":false},"author":84,"featured_media":92504,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1570,2140,7018,1685,254],"class_list":["post-92505","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-nigeria-2","tag-fccpc","tag-food-prices","tag-nigeria"],"yoast_head":"\nFuel hike: FCCPC vows to clamp down on anti-competitive food prices - Nigeria<\/title>\n<meta name=\"description\" content=\"Amid hikes in fuel pump prices, the Federal Competition and Consumer Protection Commission (FCCPC) says it is critical t ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/fuel-hike-fccpc-vows-to-clamp-down-on-anti-competitive-food-prices\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fuel hike: FCCPC vows to clamp down on anti-competitive food prices\" \/>\n<meta property=\"og:description\" content=\"Amid hikes in fuel pump prices, the Federal Competition and Consumer Protection Commission (FCCPC) says it is critical t ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/fuel-hike-fccpc-vows-to-clamp-down-on-anti-competitive-food-prices\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-19T19:50:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-19T22:02:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/07\/sm_1689787744.03059.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/fuel-hike-fccpc-vows-to-clamp-down-on-anti-competitive-food-prices#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/fuel-hike-fccpc-vows-to-clamp-down-on-anti-competitive-food-prices\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Fuel hike: FCCPC vows to clamp down on anti-competitive food prices\",\"datePublished\":\"2023-07-19T19:50:33+00:00\",\"dateModified\":\"2023-07-19T22:02:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/fuel-hike-fccpc-vows-to-clamp-down-on-anti-competitive-food-prices\"},\"wordCount\":278,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/fuel-hike-fccpc-vows-to-clamp-down-on-anti-competitive-food-prices#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/07\/sm_1689787744.03059.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"FCCPC\",\"Food prices\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/fuel-hike-fccpc-vows-to-clamp-down-on-anti-competitive-food-prices#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/fuel-hike-fccpc-vows-to-clamp-down-on-anti-competitive-food-prices\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/fuel-hike-fccpc-vows-to-clamp-down-on-anti-competitive-food-prices\",\"name\":\"Fuel hike: FCCPC vows to clamp down on anti-competitive food prices - 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