Juliet Ezeh
The Federal Competition and Consumer Protection Commission (FCCPC) has warned that the growing circulation of unsafe and substandard products in Nigeria is no longer just a consumer protection issue but a serious threat to the country’s economic stability and investor confidence.
Speaking in Abuja on Wednesday during the 2026 World Consumer Rights Day celebration, the Executive Vice Chairman of the Commission, Tunji Bello, said weak product standards are gradually eroding trust in Nigeria’s markets and discouraging legitimate business participation.
According to him, the presence of poorly regulated and unsafe goods is distorting competition and placing compliant businesses at a disadvantage, thereby weakening the overall efficiency of the economy.
Bello explained that when consumers lose confidence in product safety, market activity slows down, affecting both local enterprises and foreign investment decisions.
He noted that credible markets are built on trust, transparency, and safety—factors he described as essential for attracting sustainable investment and driving long-term economic growth.
The FCCPC boss stressed that product safety must now be viewed as a core economic priority rather than a secondary regulatory concern, warning that continued lapses could undermine ongoing efforts by the Federal Government to strengthen market institutions.
He further disclosed that the Commission has identified widespread compliance failures across multiple sectors, including manufacturing and distribution chains, where some operators either neglect safety standards or deliberately sidestep regulatory obligations.
“These challenges go beyond isolated violations. They reflect systemic weaknesses that can disrupt market balance, discourage fair competition, and weaken investor confidence,” he said.
Bello revealed that the Commission is scaling up enforcement actions, including product surveillance, testing, and sanctions against erring businesses, to restore order and credibility in the marketplace.
He added that stronger collaboration with key regulatory bodies such as the Standards Organisation of Nigeria (SON) and the National Agency for Food and Drug Administration and Control (NAFDAC) is underway to close enforcement gaps and ensure consistent standards across industries.
While clarifying that the FCCPC does not regulate prices, Bello emphasized that unfair practices linked to unsafe products would not be tolerated, especially where they harm consumers or distort market conditions.
He urged businesses to integrate safety compliance into their operations, warning that failure to meet required standards would attract strict regulatory consequences.
Industry observers say the Commission’s renewed focus signals a shift toward a more aggressive enforcement regime aimed at restoring investor trust and strengthening Nigeria’s economic framework.
With Nigeria continuing to battle the influx of counterfeit and substandard goods, analysts believe that sustained regulatory action and improved compliance culture will be critical to rebuilding confidence in the country’s markets.
