Abuja, Dec. 14, 2023: The Federal Competition and Consumer Protection Commission (FCCPC), and the National Sugar Development Council (NSDC) are collaborating to promote competition in the sugar market for effective consumer protection.
Mr Babatunde Irukera, the Executive Vice Chairman of the FCCPC, said this when he paid a visit to Mr Kamar Barkin, the Executive Secretary of the National Sugar Development Council (NSDC) in Abuja on Wednesday.
He said the collaboration would ensure fairer sugar prices for consumers.
Irukera said the collaboration would also come through information sharing from feedback gotten from field works done by the Commission.
He said that businesses benefit and survive from a well regulated competitive market.
According to him, our own work is to ensure that whether imported or locally produced, that consumers get good quality stuff, have choices and get it at the best possible price.
”It is time for some significant constructive collaboration.
”I strongly believe that the kind of feedback we get from the work we do will be of help to you.
”This thing (sugar) is costing a lot, we must do something about it.
”One of the most staple things in food is sugar both in end product.
”Our law prohibits any coordination between businesses with respect to commercially sensitive strategies information or aspects of it.
”That type of coordination is a crime because it is a cartel. Your role is to regulate price.
”You absolutely take this economy wrong if you underestimate the role cost of
sugar,”Irukera said.
Also speaking, Barkin said the mandate of the council was to support the development of sugar projects to drive self-sufficiency.
He said that the council would collaborate with the FCCPC to ensure discipline in the market.
”There is a strong nexus between FCCPC activities and our essentially regulated and oversight activities.
”It is in this area that we will be seeing collaboration going forward in terms of ensuring discipline in the market and that the consumer gets what he deserves.
”We will work out the details of this collaboration,” Barkin said.
