Nigeria's FCCPC Investigates Cartels Driving Up Poultry Prices

guardian.ng

The Federal Competition and Consumer Protection Commission (FCCPC) in Nigeria has launched an investigation into the alleged cartels driving up poultry prices, which has a significant impact on consumers. The investigation aims to uncover the root causes of the price hike and identify the culprits responsible for the crisis.

According to reports, the price of poultry products has skyrocketed in recent months, leaving many consumers struggling to afford basic necessities. The situation has been exacerbated by the COVID-19 pandemic, which has disrupted global supply chains and led to a shortage of poultry products in the country.

The FCCPC has received numerous complaints from consumers and poultry farmers regarding the high prices of poultry products. The commission has vowed to take decisive action to address the issue and ensure that consumers are protected from exploitation.

In a statement, the FCCPC said, "The commission is committed to ensuring that the poultry industry operates in a fair and competitive environment. We will not tolerate any form of anti-competitive behavior that drives up prices and harms consumers."

The investigation is expected to cover various aspects of the poultry industry, including production, processing, and distribution. The FCCPC will also engage with stakeholders, including poultry farmers, processors, and distributors, to gather information and insights that will help inform its findings.

The outcome of the investigation is expected to have far-reaching implications for the poultry industry in Nigeria. If the FCCPC finds evidence of cartel activity, it may impose penalties on the guilty parties and take steps to promote competition in the industry.

In the meantime, consumers are advised to remain vigilant and report any suspicious activities or price gouging to the FCCPC. The commission is committed to protecting the interests of consumers and ensuring that they have access to affordable and quality poultry products.

**Additional details:**

* The poultry industry is a significant contributor to Nigeria's economy, with the country being one of the largest producers of poultry products in Africa.

* The price hike has been attributed to various factors, including the high cost of feed, transportation, and labour, as well as the impact of the COVID-19 pandemic on global supply chains.

* The FCCPC has the power to impose fines and penalties on companies found to be engaging in anti-competitive behaviour, as well as to order them to cease and desist from such activities.

* The investigation is expected to take several weeks to complete, and the FCCPC will provide regular updates on its findings and recommendations.