The Federal Competition and Consumer Protection Commission (FCCPC) has stated that it will not hesitate to take action against businesses engaging in price fixing.

The FCCPC disclosed this in a statement posted on its official X handle.

The statement highlighted the strain this act places on consumers’ well-being and economic stability and urged citizens to report such practices.

According to the Commission, arbitrary price increases stemming from unpleasant practices like price extorting and conspiracy to manipulate supply violate existing laws.

The statement urged Nigerians to stay vigilant and report any unfair trade practices they encounter.

The FCCPC stated that it remains committed to promoting fair competition, protecting consumers, and fostering a regulated marketplace.