LCCI seeks stronger regulatory oversight to curb exploitative pricing

By Yinka KolawoleThe Lagos Chamber of Commerce and Industry (LCCI) has called for stronger regulatory oversight of Nigeria’s pricing environment, urging the Federal Competition and Consumer Protection Commission (FCCPC) and other relevant agencies to protect consumers and businesses from unfair market practices.

Leye Kupoluyi, said while the chamber does not advocate price controls, regulators should ensure that pricing reflects prevailing market realities in line with international best practices.“We call on FCCPC, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), and other relevant agencies to strengthen oversight of pricing mechanisms, ensure greater transparency, and protect consumers from exploitative market practices,” he said.