Home Business ‘Market Cartels’ Responsible for Outrageous Cost of Sachet Water – FCCPC
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‘Market Cartels’ Responsible for Outrageous Cost of Sachet Water – FCCPC

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The Federal Competition and Consumer Protection Commission (FCCPC) has strongly criticised the significant rise in sachet water prices by various associations.

Speaking at an event in Abuja, Dr. Adamu Abdullahi, Acting Executive Vice-Chairman of the FCCPC, stated:

“The astronomical increase in the price of sachet water by various associations is unacceptable and unfair to consumers.”

The Friday event, themed “Fair and Responsible Al for Consumers”, was held to commemorate the 2024 World Consumer Rights Day in Abuja,

Abdullahi emphasised that despite factors such as increased costs of power, fuel, and nylon, there is no justification for the outrageous rise in sachet water prices, especially considering that many producers already possess the necessary infrastructure.

He highlighted the emergence of cartels in various product sectors, including sachet water production and said the FCCPC was committed to dismantling such anti-competitive practices.

His words:

“Yes, power, fuel, 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.

“This has now resulted in emergence of cartels’ and cartels, anywhere in the world, are not acceptable. Our act is against price fixing, and it is not acceptable to us. We will find out these cartels and do something about their activities.”

Abdullahi also stressed the importance of consumer complaints in identifying and addressing these issues effectively. While clarifying that the FCCPC is not a price control agency, Abdullahi reaffirmed the commission’s dedication to combating rising food prices which according to him, the situation is driven by market cartels, price fixing, hoarding, and lack of pricing transparency.

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