Arbitrary Increase in Prices of Protective and Hygiene Products on Account of Coronavirus Concerns

Proshare - Facebook Proshare - Twitter Proshare - Linked In Proshare - WhatsApp

Sunday, March 01, 2020 09:40 AM / by Federal Competition and Consumer Protection Commission/ Header Image Credit: @fccpcnigeria                     


Pursuant to Sections 17(h) (s), 18 (1) (c), 108 (1) (b) (c) & (d), 115 (3) and 124(1) of the Federal Competition and Consumer Protection Commission Act (FCCPA)


It has come to the attention of the Federal Competition and Consumer Protection Commission (FCCPC) that certain suppliers and retailers are taking undue advantage of citizens and engaging in unconscionable trade practices with respect to basic safety and protective apparel such as face masks and latex gloves, as well as personal hygiene products like sanitizers and anti-bacterial wipes, because these products are relevant and necessary in preventing infection or spread of COVID-19 (Coronavirus).


This unusual and inordinate practice of unreasonably increasing the price of these products in an indiscriminate manner, on account of the national public health concern (Coronavirus) violates both moral codes and extant law. Abusing citizens' sensitivity, apprehension, anxiety and vulnerability, especially during emergencies that could adversely affect national security is a violation of law. Specifically, S. 17(s) of the Federal Competition and Consumer Protection Act (FCCPA) prohibits "obnoxious trade practices", or the "unscrupulous exploitation of consumers".


The Commission's surveillance efforts have revealed that some otherwise reputable pharmacies and department stores are engaging in price gouging and manipulating supplies in a manner that distorts the market, or temporarily restricts availability in order to unreasonably/unfairly increase prices. Any conspiracy, combination, agreement or arrangement to unduly limit or manipulate supply, in order to unreasonably enhance price or otherwise restrain competition is a criminal offence under S.108(1)(b) and (c), FCCPA.


Any exercise or exploitation of undue pressure in selling or the sale of goods or services, or price manipulation between displayed, and selling price are also serious violations of the FCCPA under Sections 115(3) and 124(1). Taking advantage of the possibility of infection by a dangerous communicable disease to control supply, or unilaterally increase prices is predatory as It preys on the desperation of citizens.


Considering the circumstances and the vital national interest/security this illegal conduct undermines, the Commission intends to strongly enforce the full letter of the law, including the fullest extent of penalties associated with this conduct. The FCCPC encourages consumers to be vigilant, and report such unreasonable or arbitrary exploitative price increase or trade practices to the Commission by telephone on 08056002020 or 08056003030, or by email at


Meanwhile, the Commission is in continuing communication with the Nigeria Centre For Disease Control NCDC) and understands that Nigeria's readiness to address this discovery of COVID-19 and prevent wide-spread infection is sufficient and effective.


Consumers should however proceed in abundance of caution and follow all respiratory and hand-washing hygiene practices that have been published by NCDC, W.H.O, U.S. CDC, LASG, FCCPC and other official and authoritative sources. Where described symptoms or adverse events are observed in self or others, please follow the instructions provided and notify the authorities and the telephone numbers also provided in the published materials previously identified.

 Proshare Nigeria Pvt. Ltd.

Related News - Health

  1. Is Nigeria Ready for a Health Epidemic?
  2. NSE Celebrates World Cancer Day, Launches Fundraiser for 2020 NSE Corporate Challenge
  3. Does Smiling Help with Depression?
  4. 10 Awesome Lessons You Can Learn from Studying The CBD Industry
  5. NSE Partners Sebeccly Cancer Care to Provide Free Cancer Screening at 2019 NSE Corporate Challenge
  6. NSE Hosts 6th Corporate Challenge, Donates N20million to Tackling Cancer in Nigeria
  7. NSE Corporate Challenge Receives Boost from Beta Glass, FCMB
  8. NSE Sets to "eRace" Cancer at 2019 NSE Corporate Challenge


Proshare Nigeria Pvt. Ltd.

Related to Coronavirus

1.      Coronanomics: Understanding The Darker Side of A Virus's Economic Downside

2.     Coronavirus: Establishing The Nexus Between A Bug and Global Equity Markets

3.     WHO Director-General's Opening Remarks at the Media Briefing on COVID-19

4.     First Case Of Coronavirus Confirmed In Lagos

5.     COVID-19 Refinancing Risk Elevated for 6% of Rated China Corps

6.     Global Ports Vulnerable to Coronavirus-Related Volume Declines

7.     The First Innovative Corporate Bond Supporting Anti-Epidemic Is Given The Green Light To Issue

8.     Coronavirus May Add to Liquidity Strain for Some APAC Corporates

9.     Coronavirus Set to Dampen China's Economic Growth

10.  What Coronavirus Means for Investors

11.   Coronavirus Raises Risks for China Toll Road Operators

12.  Coronavirus Could Push Global Oil Market into Surplus

13.  Airlines Face Growing Pressure From The Coronavirus

14.  Coronavirus' Severity Will Frame Effect on Corps, Sovereigns

15.  China Government Suspend Equity Market Trading to Prevent Sell-Off


Proshare Nigeria Pvt. Ltd.

Related to Federal Competition and Consumer Protection Commission (FCCPC)

  1. Merchants Prohibited From Assessing Any Duty or Costs Characterised As Stamp Duty On Consumers
  2. Improving Electricity Supply For Consumers in Nigeria - Babatunde Irukera, CEO FCCPC
  3. FCCPC Engages Electricity Consumers in Maiden TownHall Meeting in Ikeja, Lagos
  4. FCCPC To Host Town Hall Meetings With Electricity Consumers in Lagos
  5. Mergers And Acquisitions Now Under The Joint Purview Of SEC and FCCPC, Till Further Notice
  6. SEC, FCCPC Issue Joint Advisory And Guidance On Mergers,Acquisitions and Other Business Combinations



 Proshare Nigeria Pvt. Ltd.

Related News