Our reporter/ The Federal Competition and Consumer Protection Commission (FCCPC) on Friday sealed the Sahad Stores Supermarket in Abuja for price gouging.
Price gouging is the practice of increasing the prices of goods, services, or commodities to a level much higher than is considered reasonable or fair.
The store was sealed during an enforcement exercise at Garki 2 in the nation’s capital.
The enforcement team leader, Adamu Abdullahi, who is the acting Executive Vice Chairman of the agency, said businesses participating in activities contributing to price gouging in the food chain sector are now warned to desist immediately or face the full force of the law.
President Bola Tinubu had on Thursday ordered the National Security Adviser (NSA) Nuhu Ribadu, the Inspector General of Police (IGP) Kayode Egbetokun, and the Director General of the Department of State Service (DSS) Yusuf Bichi to work with governors and go after those hoarding foodstuff.
As part of moves to combat the development, the Minister of Information and National Orientation Mohammed Idris said Tinubu has mandated the heads of these security agencies and the NSA to liaise with governors to look at the issue.
“First, the National Security Adviser, Inspector General of Police; and Director General of the State Services have been directed to coordinate with the state governors to look at this issue of those hoarding commodities,” he said after a meeting between President Tinubu and state governors on Thursday.
“At this point that the nation requires food to be brought out to the people so that we can control prices and put food on the table of most Nigerians, commodity sellers are busy hoarding these commodities so that Nigerians will suffer or they will make more money as a result.
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