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The Federal Competition and Consumer Protection Commission (FCCPC) has reiterated its dedication to protecting consumers, promoting fair competition, and ensuring product safety in the market. Acting Executive Chairman, Dr. Adamu Abdullahi, emphasized this commitment during an interview following a surveillance exercise at several steel companies in Lagos and Ogun States on Friday.
The surveillance included visits to African Foundries, Monarch Steel Mill Ltd., and Kam Steel Integrated Company, all located along the Ikorodu-Sagamu Expressway. Dr. Abdullahi revealed that intelligence and surveillance reports indicated some companies were engaging in anti-competitive behavior.
“This prompted our visit to these companies to inspect their operations, review records, and analyze ten of their products. Our goal is to identify any false, misleading, or deceptive practices that could harm consumers,” he explained.
One major concern identified was the discrepancy in product specifications. “For example, consumers purchasing 12mm rods often receive 10mm rods instead, contributing to the building collapses we frequently witness. Ensuring the safety of our people is a core responsibility, and these deceptive practices are unacceptable,” Dr. Abdullahi stated. He stressed the importance of thorough inspections and transparency.
“We are examining their processes to determine if any corners are being cut. If we find evidence of such practices, we will enforce the full extent of the law,” he added. Dr. Abdullahi noted that the companies visited were cooperative, providing the necessary information during the surveillance exercises.
“So far, they have been very cooperative. They consulted their lawyers, who advised them to comply with our investigation, and they have provided us with the required information,” he said.
Regarding collaboration with relevant industry bodies, Dr. Abdullahi highlighted that the FCCPC has been working with the Steel Manufacturing Association, the Manufacturing Association of Nigeria, and the Standards Organisation of Nigeria, among others. The Council for the Regulation of Engineering in Nigeria (COREN) has also provided technical advice, ensuring the commission is guided by industry standards.
Addressing the timeline for the investigation, Dr. Abdullahi explained, “The duration depends on the volume of information gathered. Some investigations have taken longer due to the sheer amount of data involved. We assure you that we will work diligently to conclude as quickly as possible and publish our findings.”
Regarding market impact and potential punitive measures, he noted that sanctions would depend on the nature of the offense and would strictly adhere to the guidelines set out in the FCCPC Act.
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