In a strategic move aimed at fostering fair competition and safeguarding consumer interests, the Federal Competition and Consumer Protection Commission (FCCPC) has announced a strategic alliance with the National Sugar Development Council (NSDC). The executive vice chairman of FCCPC, Mr. Babatunde Irukera, revealed this development during a Strategic Media Engagement event in Abuja, themed “Reflection On The Road So Far And Road Ahead.”
Mr. Irukera emphasized that the primary objective of the alliance is to establish a level playing field in the sugar market, ensuring more equitable pricing for consumers. The collaboration will involve the sharing of essential information derived from fieldwork feedback conducted by the Commission.
Highlighting the importance of a well-regulated competitive market, Irukera stressed the direct impact of business success and survival on such environments. He underscored the FCCPC’s commitment to ensuring consumer access to high-quality products at reasonable prices, whether imported or locally produced.
During the event, Mr. Irukera provided insights into the FCCPC’s budgetary journey since 2017, detailing government allocations, internally generated revenue (IGR), and the agency’s autonomy since January 1, 2023. Notably, he shared figures indicating the agency’s financial growth over the years, demonstrating its increasing ability to generate revenue independently.
Irukera urged companies to establish independent complaints resolution platforms, promoting responsible business practices. Emphasizing the vital role of journalists in fostering accountability, he highlighted the significance of the partnership between FCCPC and NSDC in holding companies accountable to ethical standards.
This alliance signifies a proactive step toward ensuring a competitive and transparent market environment, ultimately benefiting consumers and promoting fair business practices within the sugar industry.
