The Federal Competition and Consumer Protection Commission has partnered with the Lagos State Consumer Protection Agency to tackle challenges faced by consumers at marketplaces, such as price tagging, minimum labelling requirements, and return and refund obligations.

Speaking during a stakeholders’ engagement on Wednesday in Ikeja, organised by the FCCPC in partnership with LASCOPA, the Executive Vice Chairman of the FCCPC, Mr Tunji Bello, said that in Lagos, which is the commercial centre of Nigeria, millions of transactions take place across its markets, supermarkets, shopping malls, neighbourhood stores, and online platforms daily.

Bello, represented at the event by the South West Coordinator of the FCCPC, Olubumi Otti, added that those transactions drive economic growth, create jobs, and support livelihoods, stressing that they also depend on one essential ingredient: trust.

“Consumers must be confident that the price they see is the price they will pay. They must be able to rely on the information provided about the products they buy. They must also know that where the law gives them the right to a refund, replacement, or repair, that right will be respected,” Bello said.

He stressed that when consumers have confidence in the marketplace, they are more willing to spend, businesses attract loyal customers, and fair competition thrives.

“That is why today’s engagement is so important. We are here to discuss three issues that affect consumers and businesses every single day: price tagging, minimum labelling requirements, and return and refund obligations. These may seem like ordinary aspects of doing business, but they play a vital role in building confidence in the marketplace. They help consumers make informed decisions, encourage fair competition, and create a level playing field for businesses that choose to operate responsibly,” he added.

The FCCPC boss reiterated that the purpose of the meeting is not simply to remind businesses of their legal obligations but rather to have an honest conversation about why these obligations matter, how they protect both consumers and businesses, and what could be done to improve compliance.

According to him, the FCCPC has always believed that engagement is more effective than confrontation, adding that businesses are far more likely to comply when the law is clearly explained and expectations are well understood.

“That is why stakeholder engagements such as this remain an important part of our regulatory approach. We expect businesses to deal with us honestly and transparently. Those expectations are not unreasonable. They are recognised and protected by law. Yet, every day, the commission receives complaints that show many consumers still face avoidable problems in the marketplace,” he stressed.

“Bello explained that displaying prices is not simply good business practice; “it is a basic requirement of fairness. A consumer should know what an item costs before deciding whether to buy it. No one should have to take a product to the checkout before learning its price. Neither should two customers be quoted different prices for the same product simply because a seller believes one can afford to pay more than the other.”

He emphasised that the essence of the gathering is for businesses to understand their responsibilities before problems arise, not after enforcement action becomes necessary.

“Today’s engagement also reflects something else that is essential to effective consumer protection and partnership. No single institution can protect consumers on its own. The marketplace is too large, too dynamic, and too interconnected for any regulator to work in isolation. Success depends on cooperation between government institutions, businesses, trade associations, consumer groups, and the public.

“The partnership between the FCCPC and LASCOPA reflects that understanding. Although we operate under different mandates, we are united by a common purpose. We want consumers to enjoy effective protection while ensuring that businesses operate in a fair, transparent, and predictable regulatory environment,” he said.

Earlier, the General Manager of LASCOPA, Afolabi Sholebo, maintained that the gathering signalled a shared conviction that the marketplace must be fair, transparent, and worthy of consumers’ trust.

“Today is not merely a meeting. It is a deliberate act of partnership between regulators and the regulated, an opportunity to align enforcement with education and compliance with sustainable enterprise. We meet at a pivotal moment. Across Nigeria, regulatory agencies have escalated enforcement against unfair trade practices.

“Businesses have been sanctioned for displaying goods without price tags, for selling expired products, for misleading consumers with inefficient labelling, and for refusing legitimate requests for returns and refunds,” he said.

He pointed out that compliance with pricing regulations, product labelling standards, and consumer redress mechanisms is not a matter of discretion; rather, it is a legal obligation under the Federal Competition and Consumer Protection Act 2018 and the Lagos State Consumer Protection Law 2025, as amended. More than that, it is a hallmark of responsible business practice.