World consumer day: FCCPC moves to address rising food price

The acting Executive Vice Chairman/Chief Executive Officer of the Federal Competition and Consumer Protection Commission, Dr Adamu Abdullahi, said the commission is moving aggressively to tackle rising food prices which is currently affecting the living standards of consumers.

He made this assertion while addressing the media in Abuja yesterday to commemorate the World Consumer Rights Day, with the theme: ‘Fair and Responsible AI for Consumers.’

He said while the commission is not a price control agency, it is deeply concerned and committed to addressing the rapid rise in food prices affecting Nigerian consumers, adding that “The FCCPC remains resolute in its determination to protect Nigerian consumers and create an enabling environment for businesses to compete.”

Speaking on the theme, he noted that as a consumer protection agency, there are concerns that the integration of artificial intelligence, if not regulated, will result in unintended consequences such as privacy concerns, exploitative practices, limited access, and cybersecurity risks.

“Regulatory interventions in this realm will ensure that AI technologies serve as tools for empowerment rather than sources of exploitation.

“As we navigate the complexities of the digital age, permit me to state that FCCPC is also concerned with other prevailing issues bedevilling consumers in Nigeria, particularly the rapidly rising price of food, as in other nations of the world,” he said.