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• Says airlines may refund passengers over price fixing ν Electricity, Fintech top consumer complaints
From Juliana Taiwo-Obalonye, Abuja
Federal Competition and Consumer Protection Commission (FCCPC) has begun nationwide monitoring of petrol prices to prevent marketers from manipulating costs to the detriment of consumers.
Executive Vice Chairman and Chief Executive Officer of the commission, Mr. Tunji Bello, disclosed this during the Meet the Press briefing at the Presidential Villa, Abuja, yesterday.
He said the commission was paying close attention to developments in the petroleum market, noting that the ongoing conflict involving the United States, Israel, and Iran could have ripple effects on fuel prices in Nigeria.
Bello said: “We are presently monitoring the situation, the effect of the US, Israeli, Iran war as it affects prices in Nigeria. Petrol has far-reaching effects on some of the things we eat or take on a daily basis.”
According to him, the FCCPC has deployed monitoring teams nationwide to ensure marketers do not exploit consumers through arbitrary pricing.
“If somebody has reduced ₦100 or ₦200 from the price and you are still selling your own for ₦1,500 per litre or ₦1,100 per litre, we should be able to ask you why you are doing that,” he explained, adding that the commission was working closely with the Department of Petroleum Resources (DPR) to strengthen oversight.
The FCCPC boss also revealed that some airlines may be directed to refund passengers after investigations revealed evidence of price fixing during the 2025 Christmas period.
“We investigated the airlines during the Christmas period because what we found was that they colluded to fix prices at that time,” he said.
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Bello explained that ticket prices, which were typically between N145,000 and N150,000, skyrocketed to between N500,000 and N700,000 during the festive season.
“What we are also considering is to look at a situation where we ask them to refund the excess to the passengers, which we assume that they exploited,” he added, noting that penalties were also being reviewed.
He, however, declined to name the affected airlines, stating that the final report would be released soon.
On consumer complaints, Bello disclosed that electricity supply and financial technology services recorded the highest number of consumer grievances in the past year.
He said complaints from electricity consumers mostly revolved around metering, estimated billing, and poor power supply despite being billed under Band A tariffs that promise up to 20 hours of electricity daily.
“Many of those on Band A complain they are not getting the promised supply,” he said, emphasizing that the Commission was committed to ensuring that distribution companies deliver the level of service tied to their respective tariffs.
Bello also revealed that fintech-related complaints were frequent, involving digital transactions and lending services. He noted that between March and August 2025, the Commission resolved over 9,000 consumer complaints, recovering more than N10 billion for affected individuals.
Urging Nigerians to report grievances through formal channels, Bello said, “Nigerians sometimes grumble more than they complain. Once you complain, the system generates a code for the complaint, and we can begin to act on it.”
The FCCPC reiterated its commitment to collaborating with consumers, market associations, and regulatory bodies to check unfair market practices and safeguard consumer rights across all sectors of the economy.
