FCCPC, Lagos consumer agency warn businesses on price tags, refunds, product labelling

The Federal Competition and Consumer Protection Commission (FCCPC) and the Lagos State Consumer Protection Agency (LASCOPA) have stepped up efforts to address unfair practices in marketplaces, with a renewed focus on price tagging, product labelling and businesses’ obligations to honour returns and refunds where applicable.

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The initiative was unveiled on Wednesday during a stakeholders’ engagement organised by both agencies in Ikeja, Lagos, as regulators sought greater compliance with consumer protection laws through dialogue with businesses.

Speaking at the event, the Executive Vice Chairman of the FCCPC, Tunji Bello, said consumer confidence remains central to a healthy marketplace, particularly in Lagos, Nigeria’s commercial hub, where millions of transactions take place daily across markets, supermarkets, shopping malls, neighbourhood stores and online platforms.

Mr Bello, represented by the FCCPC’s South-west Coordinator, Olubumi Otti, said those transactions not only drive economic growth and create jobs but also depend on trust between businesses and consumers.

“Consumers must be confident that the price they see is the price they will pay,” he said.

He added, “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.”

According to him, transparent business practices encourage consumer spending, build customer loyalty and promote fair competition.

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He said the engagement focused on three recurring issues affecting consumers and businesses: price tagging, minimum product 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,” Mr Bello said.

Engagement before enforcement

Mr Bello said the commission’s objective was not merely to remind businesses of their legal obligations but to explain why compliance benefits both consumers and businesses.

According to him, the FCCPC believes engagement is often more effective than confrontation because businesses are more likely to comply when regulatory expectations are clearly understood.

“We expect businesses to deal with us honestly and transparently,” he said.

He noted, however, that the commission continues to receive complaints from consumers over avoidable marketplace practices.

Highlighting one of the issues, Mr Bello said displaying prices 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.”

Partnership

Also speaking, the General Manager of LASCOPA, Afolabi Sholebo, said the engagement reflected a shared commitment to making the marketplace fair, transparent and deserving of consumers’ trust.

He said businesses had recently faced regulatory sanctions over practices such as failing to display prices, selling expired products, inadequate product labelling and refusing legitimate requests for returns or refunds.

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Mr Sholebo said compliance with pricing regulations, labelling standards and consumer redress mechanisms is a legal obligation under the Federal Competition and Consumer Protection Act, 2018, as well as the Lagos State Consumer Protection Law.

The engagement comes amid increased consumer protection enforcement by the FCCPC.

In recent months, the commission has intensified actions against businesses over alleged exploitative pricing, misleading trade practices and violations of consumer rights. It has also repeatedly urged businesses to comply with provisions of the Federal Competition and Consumer Protection Act by displaying prices clearly, providing accurate product information and respecting consumers’ rights to appropriate remedies where provided by law.

The FCCPC has consistently maintained that strengthening compliance with consumer protection laws is aimed at promoting transparency, encouraging fair competition and improving confidence in Nigeria’s marketplace.