Yuletide: We won’t tolerate exploitative fare hikes – FCCPC
The Federal Competition and Consumer Protection Commission (FCCPC) has clarified that increases in transport fares during the yuletide season are not unlawful, but warned that exploitative or unfair practices by road transport operators will attract regulatory sanctions. The clarification was contained in a statement on Sunday by the commission’s Director of Corporate Affairs, Ondaje Ijagwu, […]
The Federal Competition and Consumer Protection Commission (FCCPC) has clarified that increases in transport fares during the yuletide season are not unlawful, but warned that exploitative or unfair practices by road transport operators will attract regulatory sanctions.
The clarification was contained in a statement on Sunday by the commission’s Director of Corporate Affairs, Ondaje Ijagwu, amid growing complaints over arbitrary fare hikes by inter-city road transport operators across the country.
The FCCPC acknowledged that seasonal demand, operational pressures and other legitimate cost factors may influence transport pricing during festive periods.
However, it stressed that consumers are entitled to clear, accurate and timely information on fares before embarking on any journey.
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“Any fare adjustment must be transparently communicated and applied fairly,” the commission said.
It further noted that the complaints were emerging at a time when there had been reports of reductions in the pump price of premium motor spirit in parts of the country.
The Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr Tunji Bello, said the commission was closely monitoring market conduct throughout the festive season.