FCCPC Monitoring Rising Fuel Prices Amid Middle East War
•Warns against consumer exploitation
•To demand refunds from six airlines thatexploited passengers during 2025 Yuletide
•Says telecom, fintech, energy sectors generate highest complaints from Nigerians
The Federal Competition and Consumer Protection Commission (FCCPC) on Thursday reacted formally to the rising cost of fuel across the country, saying it is closely monitoring the impact of the ongoing United States-Israel war against Iran on petrol prices and other consumer goods in Nigeria.
It, therefore, warned business firms against exploiting the situation to the detriment of Nigerians.
Executive Vice-Chairman and Chief Executive Officer of the Commission, Mr Tunji Bello, who disclosed this while briefing newsmen at the State House, Abuja, said the commission had already deployed monitoring teams nationwide to track changes in fuel prices and other essential commodities affected by the global energy shock triggered by the conflict.
He explained that petrol prices have a ripple effect on many consumer goods and services and the commission will not tolerate unjustified price hikes.
His words: “We are presently monitoring the situation as it affects prices in Nigeria because petrol has supply effects on some of the things we eat or take on a daily basis.”
Bello stressed that the commission was working closely with regulators in the petroleum sector to ensure compliance with prevailing price trends.
According to him: “Our monitors are already outside monitoring developments. If suppliers reduce prices by N100 or N200 and some filling stations are still selling for N1,500 per litre or higher, we will ask questions and take the necessary steps.”
He stressed that the President Bola Tinubu-led government at the centre had recorded “massive economic gains” in the past two years, and the FCCPC would ensure that external shocks do not translate into consumer exploitation.
Bello also revealed that investigations had confirmed that no fewer than six airlines exploited Nigerians during the 2025 Yuletide travel period.
He said the commission had concluded investigations into the hike in ticket prices and would soon publish its final report.
According to him, the findings could lead to sanctions as well as refunds to affected passengers.
His words: “We have carried out a full investigation on the issue of airlines during the Yuletide period. The final report will be published soon, and where refunds are necessary, they will be demanded.”
The FCCPC boss said the move was part of the commission’s mandate to ensure fairness in the market place and protect consumers from exploitative practices.
He further disclosed that telecommunications, energy and financial technology sectors account for the highest number of consumer complaints in the country.
Bello explained that issues related to electricity supply, digital lending platforms, telecom service charges and bank transactions dominate the complaints received by the commission.
“In major cities like Lagos, Abuja, Ibadan and Kaduna, most of the complaints we receive border on fintech, energy and telecom services, and also banks.”
He said electricity-related complaints were particularly widespread, largely due to estimated billing and disputes over service quality.
According to him, FCCPC is working to ensure that electricity distribution companies deliver the promised service levels, particularly under the band-based tariff system.
“Consumers who are placed on Band A expect at least 20 hours of electricity daily. If they are paying the higher tariff, they must receive value for their money, and we are holding the companies accountable for that commitment,” he said.
Providing insight into the commission’s operations, he disclosed that between March and August 2025 alone, more than 9,000 complaints were resolved, leading to recoveries exceeding N10 billion for Nigerian consumers.
He said complaints received by the commission annually could exceed 25,000 across multiple channels including online platforms, telephone reports, petitions and social media.
Bello added that many cases end in refunds or replacement of defective goods after mediation by the commission.
He also urged Nigerians to formally report consumer rights violations rather than merely complaining informally.
The FCCPC boss noted that many Nigerians “grumble more than they complain”, stressing that effective regulatory action depends on documented complaints.
He encouraged consumers to file complaints through the commission’s digital platform or other available channels so that the agency could intervene.
Bello said the FCCPC would continue to strengthen enforcement, consumer education and market monitoring to ensure fairness in Nigeria’s marketplace.
He highlighted significant challenges in regulating Nigeria’s informal markets, where associations often fix prices and prevent non-members from trading.
“A farmer comes from the village with produce and is told he cannot sell unless he registers with the association. It’s a criminal offense to fix prices,” he noted.
The commission, he stated, is addressing this through engagement rather than immediate prohibition, utilizing radio broadcasts in regions where social media penetration is low and mandating state offices to hold regular meetings with market associations.
The FCCPC boss also criticized legislative attempts to remove the commission’s jurisdiction over banking complaints, arguing that “a bank customer is a consumer whether you like it or not”.
Bello urged the National Assembly to sustain provisions allowing the FCCPC to receive complaints against financial institutions.
