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Regulator shuts Abuja superstore for price gouging, consumer exploitation

FCCPC

*Dr. AdamuAbdullahi, Acting Executive Vice Chairman and CEO of the Federal Competition and Consumer Protection Commission, warns businesses engaging in activities contributing to price gouging in Nigeria’s food chain sector to desist immediately or face the full force of the law

Isola Moses | ConsumerConnect

Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) has sealed off the popular Sahad Stores Supermarket, in Abuja, FCT, for price gouging.

ConsumerConnect reports price gouging is the practice of increasing the prices of goods, services, or commodities to a level much higher than is considered reasonable or fair.

The market regulatory Commission Friday, February 16, 2024, shut the store during an enforcement exercise Friday at Garki 2, in Abuja.

Dr. AdamuAbdullahi, Acting Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the agency, who led the enforcement team.

Abdullahi, therefore, businesses engaging in activities contributing to price gouging in the food chain sector of the Nigerian economy to desist immediately or face the full force of the law.

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