FCCPC MONITORS FUEL, COMMODITY PRICES AMID MIDDLE EAST TENSIONS, PROBES AIRLINES OVER YULETIDE FARE HIKE

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By Aishat Momoh. O.

The Federal Competition and Consumer Protection Commission (FCCPC) says it has begun nationwide monitoring of petrol and other commodity prices following the escalating tensions involving the United States, Israel and Iran in the Middle East.

The Executive Vice Chairman of the Commission, Tunji Bello, disclosed this on Thursday while briefing State House correspondents at the Aso Rock Presidential Villa in Abuja.

Bello said the commission was treating the development as a temporary situation but would not allow external factors to erode the economic progress recorded by the Federal Government of Nigeria in the past two years.

According to him, FCCPC officials have already been deployed across the country to track price movements and ensure that fuel suppliers and petrol stations do not exploit consumers.

“Petrol has supply effects on many things we consume daily. We are monitoring developments closely to ensure that suppliers or stations do not take advantage of Nigerians,” Bello said.

He explained that the commission would question operators who refuse to adjust prices where reductions are expected, warning that unjustified price disparities could attract regulatory scrutiny.

The FCCPC chief added that the commission is working closely with the Nigerian Midstream and Downstream Petroleum Regulatory Authority to enforce compliance with pricing regulations.

Bello also revealed that the commission resolved more than 9,000 consumer complaints and recovered over ₦10bn for consumers between March and August 2025, with total recoveries exceeding ₦20bn as of March 2026.

He noted that the energy, fintech and telecommunications sectors generate the highest number of complaints in Nigeria.

According to him, the FCCPC receives about 25,000 complaints annually from consumers through different channels.

The FCCPC boss further disclosed that the commission has concluded investigations into price-fixing allegations against about five or six airlines over the sharp rise in ticket prices during the December 2025 Christmas period.

He said the investigation was launched after numerous complaints from passengers who were forced to pay excessively high fares for domestic flights.

According to Bello, tickets that normally sold for between ₦145,000 and ₦150,000 rose to as high as ₦400,000 to ₦670,000 during the Yuletide season.

The commission’s preliminary findings suggest that some airlines may have engaged in collective price-fixing, an anti-competitive practice prohibited under the Federal Competition and Consumer Protection Act.

Bello said the final report would soon be released and may include penalties and refunds to passengers who were overcharged.

However, he declined to disclose the names of the airlines involved, stating that about five or six carriers were under investigation.

Also speaking at the briefing, the FCCPC’s Executive Commissioner of Operations, Louis Odion, said electricity-related complaints account for the largest share of consumer grievances.

He explained that while the commission does not control prices, it ensures that consumers are not exploited.

Odion noted that Band A electricity consumers, who pay higher tariffs, are entitled to at least 20 hours of daily electricity supply, while Band B customers should receive about 16 hours.

He urged consumers to formally report cases where electricity distributors fail to deliver the promised hours of supply.

Meanwhile, the commission’s Head of Legal Services, Chizenum Nsitem, disclosed that the FCCPC has prosecuted more than 25 cases since the operationalisation of the Federal Competition and Consumer Protection Act in 2019.

He added that the commission currently has over 30 cases pending at the Federal High Court and the FCCPC Tribunal, including five cases at the Court of Appeal.

Bello also revealed that the commission has launched an investigation into cement prices nationwide following complaints from consumers.

According to him, an investigative team has already been deployed across the federation to examine pricing patterns in the sector.

On telecommunications tariffs, Bello said the commission worked with the Nigerian Communications Commission last year to reduce a proposed 100 per cent tariff increase by telecom companies to 50 per cent after negotiations with operators.

He said the intervention was necessary to protect consumers amid rising inflation and economic pressures.