Logo
* Advices consumers not to engage in panic purchase
*Reiterates obligations
* Warns marketers against exploiting consumers
* Commences enforcement to prevent hardship on citizens
By Jon Egie
The Federal Competition and Consumer Protection Commission (FCCPC) says it has noted a significant and potentially inexplicable emerging increase and lengthening of wait-times (queues) in procuring fuel at filling stations across the country.
In a release issued by the Commission yesterday, Tuesday, May 30; it said the emerging hardship on motorists and other consumers invariably impedes commerce, traffic and presents other difficulties, unintended consequences and financial constraints for citizens.
Consequently, the Commission in triaging the emerging situation, engaged with stakeholders: Lagos State Consumer Protection Agency (LASCOPA), Nigeria Midstream and Downstream Regulatory Authority (NMDPRA) and Major Oil Marketers Association of Nigeria (MOMAN).
The outcomes of the engagement demonstrates there is no operational basis or sufficiently diminished/acute reduction in product availability at both supply and retail points in the value chain to justify the hardship and constraints otherwise emerging.
The Commission adopted the advise given by NMDPRA that consumers should not engage in panic purchase or stockpiling products in a manner inconsistent with regular periodic purchases and consumption.
FCCPC warned that petroleum products are generally flammable and require transportation, dispensation, consumption and storage in strictly controlled and regulated manner. Any contrary approach to these strictly regulated manners constitute dangers and risk of significant losses and even fatality.
“As such, and in accordance with the assurances of NIMDPRA and MOMAN, that existing supplies are not insufficient for regularly established consumption levels, the Commission advises consumers not to modify their regular purchase and consumption patterns”.
Speaking directly to businesses and undertakings in the supply chain, the Commission reiterated it’s obligations under the Federal Competition and Consumer Protection Act, 2018 (FCCPA) to wit: prohibit deceptive or unconscionable business practices (Section 17(g); prohibit obnoxious practices or unscrupulous exploitation of consumers by companies, trade associations and even individuals (Section 17(s); prohibit any mutual understanding or decisions with a purpose or effect that prevents, restricts or distorts competition, specifically, and particularly including price-fixing or listing distribution or supply (Section 59(1)(2); prohibit any arrangements that unduly limit the production, transportation, storage and or supply of products, including for the purpose of enhancing price (Section 108(1); and prohibit supplying products at prices or terms that are manifestly unfair, unreasonable or unjust. (Section 127(1).
The Commission has begun to carry out a joint inter agency task force with the relevant stakeholders to enforce the provisions of the law, ensure compliance and prevent hardship on citizens.
The release said Marketers have been informed that any infringement which distorts the market or enables others to exploit consumers and perpetuate inconveniences will be subject to agravated and highest spectrum of penalties where evidence support violation.
“Organized marketing or trading aaaociatons such as MOMAN and IPMAN are in particular invited to this and their collective and individual possible exposure in the event of evidence supported violations.”
The Commission restated President Bola Tinubu’s position noting the unsustainability of subsidy and assurance that the resources associated with subsidy will support more meaningful and continued efforts towards improved lives and living condition of citizens.
About Author
