The Federal Government has reminded Nigerians that it cannot directly regulate prices of goods and services but has assured that it would take action on the rising price of commodities within the nation.
The Federal Competition and Consumer Protection Commission (FCCPC) disclosed this in a press statement on its X account, noting that it is already probing price surges and will take firm measures against any companies caught engaging in unfair market practices like price manipulation, excessive pricing, or cartel formation.
The Commission said its operatives will work collaboratively with trade associations, farmer groups, and other stakeholders to identify and remove unnecessary barriers to entry in various sectors, combat price-fixing, and dismantle cartels.
This statement comes as Nigerians continue to ponder on why the naira has continued to gain value without corresponding reflections in the price of goods and services.

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