FCCPC partners SON, NAFDAC, says stricter regulations coming

• Published date: 12 January 2023
• Publication title: Nigeria - The Nation

The Federal Competition and Consumer Protection Commission (FCCPC) will this year collaborate more with the Standards Organisation of Nigeria (SON) and the National Agency for Food and Drug Administration and Control (NAFDAC) to deepen its regulatory authority.

FCCPC Vice Chairman and Chief Executive Officer Babatunde Irukera said this is part of the commission's plan to sanitise the power and manufacturing sectors and the digital space in the interest of consumers.

The agency boss noted that the sectors may thus experience stricter regulations as the FCCPC plans to enforce more penalties in the public interest.

He hinted that FCCPC, towards the end of 2022, embarked on further investigation and scrutiny of the power sector, fast-moving consumer goods, and the activities of digital lenders.

Irukera said the FCCPC uncovered major irregularities that had laid the foundation for the areas the organisation would focus on this year.

According to him, the agency has started unbundling more of its regulatory tools to create room for penalties in the months ahead.

'Towards the end of last year, FCCPC...