The Federal Government has vowed to take stringent regulatory measures against traders “unfairly inflating prices” of goods and commodities.

The government, through its agency, the Federal Competition and Consumer Protection Commission (FCCPC), expressed worry that despite the recent appreciation of the Naira against the dollar, consumers continue to face escalating costs without a corresponding decrease in prices of goods and commodities.

The Commission’s chief Adamu Abdullahi said in a statement said the current situation is unacceptable, and it remains committed to protecting consumers from exploitation.

Abdullahi noted that while his commission cannot directly regulate prices, the Commission will utilise its existing legal framework to enforce fair competition and consumer protection provisions, just as its operatives have been directed to intensify monitoring of both formal and informal markets.