The Federal Government has vowed to take stringent regulatory measures against traders “unfairly inflating prices” of goods and commodities.

The government, through its agency, the Federal Competition and Consumer Protection Commission (FCCPC), expressed worry that despite the recent appreciation of the Naira against the dollar, consumers continue to face escalating costs without a corresponding decrease in prices of goods and commodities.

The Commission’s boss, ADAMU ABDULLAHI said this situation is unacceptable, and the FCCPC is committed to protecting consumers from exploitation and is taking proactive steps to address this issue.

ABDULLAHI said the FCCPC operatives have been directed to intensify monitoring of both formal and informal markets, where businesses may be taking advantage of market conditions to unfairly inflate prices, and ramp up enforcement activities.

According to him, the operatives will be working 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.