"Unfair and Unacceptable": FCCPC Moves Against Increase in Price of Pure Water in Nigeria
- Nigeria's consumer protection agency has condemned the nationwide increase in the prices of pure water
- The FCCPC stated that despite the economic challenges in the country, there was no genuine reason for the hike in price
- It assured Nigerian consumers that it was working towards tackling cartels responsible for the soaring food prices in the country
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Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology and the stock market.
The Federal Competition and Consumer Protection Commission (FCCPC) has insisted that the sudden increase in the price of sachet water, better known as pure water, across the country is unfair and unacceptable.
This was stated by Adamu Abdullahi, the acting executive vice-chairman/chief executive officer of the FCCPC, while speaking in Abuja at an event to commemorate the 2024 World Consumer Rights Day.
Source: UGC
The price of sachet water increased a few weeks ago, selling for N300-N500 a bag, depending on the location, from N200, which it initially sold.
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The Association of Table Water Producers (ATWAP) in Enugu said the decision to hike the price was agreed on by members at an emergency meeting held to deliberate on the challenges confronting them.
No reason for price increase
Emphasising that the price increase was "unacceptable and unfair" to consumers, Abdullahi stressed that there was no genuine reason for the astronomical upward review of prices.
Mr Abdullahi said:
“Yes, power (electricity), fuel, and the price of nylon have increased, but that cannot explain the cause of the astronomical rise in price.
“What we have discovered is that most products now have associations, even the sachet water producers. When you have your eggs that you brought from your farm to sell at Wuse Market, the association of egg sellers will tell you that you have to sell to them at cheaper rates while they resell to consumers at higher prices.”
According to Premium Times, he noted that this has now resulted in the emergence of cartels. He said the Commission is determined to dissolve cartels involved in price fixing and hopes for the public's cooperation in identifying the cartels.
Controlling rising food prices
Abdullahi also stated that FCCPC is concerned with other issues affecting consumers in Nigeria, particularly rising food prices.
He said:
“We are deeply committed to addressing the rapid rise in food prices affecting Nigerian consumers.”
He explained that various factors such as hoarding, price fixing, market cartels, and lack of transparency in pricing are responsible for the soaring food prices in the country.
He, however, assured that despite the challenges faced in the marketplace, the FCCPC remains resolute in its determination to protect Nigerian consumers and create an environment enabling businesses to compete.
Speaking on the matter, Segun Oyegoke, a social commentator, told Legit.ng that the root causes of the hikes need to be dealt with.
He said:
"I'm not sure there's much the FCCPC can do about the pricing of pure water. Even though the increase in price is pressing on Nigerians, especially given the current hardship, there's also a need to consider the cost of production for these manufacturers.
"You can't force manufacturers to operate at losses. This would eventually lead to the collapse of businesses, resulting in more people losing their jobs. The focus now should be on addressing the factors responsible for the hardship in the country and the increase in almost every commodity in the country."
Four ways to identify fake pure water
In related news, Legit.ng reported that the widely patronised and burgeoning water industry was flooded with substandard products, putting many Nigerians in danger.
The National Agency for Food and Drug Administration and Control (NAFDAC) stated that the packaged water industry is a multi-billion naira business that the agency takes seriously, not only because of the economic benefits but also due to its health importance.
According to NAFDAC, hundreds of water manufacturing factories are registered annually while it tries to curb the production of substandard packaged water.
However, there are some signs one can look out for to identify fake pure water, desist from taking it and report such products to NAFDAC.
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Source: Legit.ng
