The Federal Competition and Consumer Protection Commission, FCCPC has adviced Nigerians not not to engage in panic buying of fuel for the purpose of stockpiling.
The Executive Vice Chairman of FCCPC, Mr Babatunde Irukera in a statement in Abuja stated that the commission observed a significant and potentially inexplicable emerging increase and lengthening of wait-times in procuring fuel at service stations in certain locations across the country.
According to him, “this emerging hardship on motorists and other consumers invariably impedes commerce, traffic, and presents other difficulties, unintended consequences and financial constraints for citizens.”
“The Commission in triaging this emerging situation has today Bern in engagement with; Lagos State Consumer Protection Agency (LASCOPA); The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and
Major Oil Marketers Association of Nigeria (MOMAN).”
“The outcome of these engagements between the top-level Executives of the Commission and these other relevant entities, as well as key operatives, demonstrates that, there is no operational basis or sufficiently diminished/acute reduction in product availability at both supply and retail points in the value chain to justify the hardship and constraints otherwise emerging,” he said.
Mr Irukera also stressed that petroleum products are generally flammable and require transportation, dispensation, consumption and storage in strictly controlled and regulated manner, stating that any contrary approach to these strictly regulated manners constitutes danger and risk of significant losses, even fatality.
“As such, and in accordance with the assurances of the NMDPRA and MOMAN that existing supplies are not insufficient for regularly established consumption levels, the Commission encourages consumers not to modify their regular purchase and consumption patterns.
“With respect to businesses/undertakings in the supply chain, the Commission hereby reiterates their obligations under the Federal Competition and Consumer Protection Act, 2018 (FCCPA):
Section 17 (g) prohibits deceptive or unconscionable business practices.
“Section 17 (s) prohibits obnoxious practices or unscrupulous exploitation of consumers by companies, trade associations, and even individuals.
“Section 59 (1) and (2) prohibits any mutual understanding or decisions with a purpose or effect that prevents, restricts or distorts competition, specifically, and particularly including price-fixing or limiting distribution or supply.
“Section 108 (1) prohibits any arrangements that unduly limit the production, transportation, storage and or supply of products, including for the purpose of enhancing price,
Section 127 (1) prohibits supplying products at prices or on terms that are manifestly unfair, unreasonable or unjust.” The FCCPC boss stressed.
Mr Irukera disclosed that the Commission agreed with LASCOPA, on a Joint Inter-Agency Task Force to enforce the provisions of the law, ensure compliance and prevent hardship on citizens.
He said “the Commission possesses the will and desire, and is committed to the strictest enforcement of the law.”
“Product marketers have been informed that any infringement which distorts the market or enables others to exploit consumers and perpetuate inconvenience will be subject to the aggravated and highest spectrum of penalties where evidence supports violation.
“Consumers are also invited to provide credible information about any conduct or practices they experience which they perceive may be a possible violation of the law, such information may be sent through our normal channels, in particular, contact@fccpc.gov.ng.” the Executive Vice Chairman stated.
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