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Counterfeit empire: Lagos electronics market where fake products sustain luxury

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Beneath the bustling chaos of Alaba International Market lies a hidden economy built on counterfeit goods. Refurbished televisions masquerade as brand-new, logos deceive the eye, and receipts vanish without a trace. For traders, it is a lifeline, a way to support families and even sustain luxury lifestyles; for unsuspecting buyers, it often means disappointment and significant financial loss. In this investigation, CHIJIOKE IREMEKA not only exposes the underdogs behind this imitation business but also draws parallels with similar trade hubs worldwide, offering potential solutions to curb this thriving culture

“I  didn’t know a television could be refurbished and painted the way a vehicle could be panel-beaten and sprayed,” said 31-year-old Dumebi Asika, recalling how he was shortchanged at Alaba International Market, Lagos, while trying to buy a 65-inch smart TV for his home.

The newlywed had recently rented a two-bedroom flat in Okota, Amuwo-Odofin, in the heart of Ojo Local Government Area, Lagos State, for N1.8m. After furnishing his living room with sofas, he set out to buy a fashionable smart television as a gift for his wife.

However, with the prices of new televisions rising across brands, the 65-inch TV he wanted was beyond his budget.

A new model was going for N620,000, while a tokunbo (used) television sold for N242,000. Reluctantly, he opted for a used set, but that decision would later lead to disappointment.

“Everything went wrong when I settled for tokunbo instead of my original choice. I went for a fairly used TV, but I was given a refurbished one instead,” he said.

How it began

What the smooth-talking seller, known only as Joe, actually handed Asika was an old TV set cleverly passed off as tokunbo.

“The TV worked perfectly for a couple of weeks, but after a month, it started overheating and randomly shutting down. Within a week, lines appeared across the screen. I was shocked,” he recalled.

Attempts to reach Joe through the contact on the receipt proved futile. Frustrated, Asika took the television to a local electrician, who delivered the unwelcome news: the set was not a genuine Samsung.

While the casing bore Samsung branding, the internal components: panel, motherboard, and power unit, were cheap, mismatched parts from unknown manufacturers.

Essentially, it was an assembled TV masquerading as a branded product.

“It was a screen problem, but repairing it would cost almost as much as the TV itself, with no guarantee it would last. I was advised to return it to the seller,” Asika explained.

Finding the seller, Joe, was complicated by ongoing demolition and rebuilding projects in the market, which had displaced many traders. When they finally met, Joe argued the television had been in perfect condition when it was sold, claiming Asika damaged it and should bear the responsibility.

“It was a heated argument. People gathered to intervene, but Joe insisted he had done nothing wrong, saying he sold the product two months earlier and couldn’t accommodate returns beyond that period.

“Eventually, I had to drop the faulty set, pay an additional N49,500, and accept a 55-inch LG TV instead of the 65-inch I wanted. I wish I had gone for my initial choice, a brand-new TV. But it was an experience that changed my perception of tokunbo items,” Asika lamented.

‘I paid for a 55-inch TV but 45-inch was given’

In a similar case, 48-year-old civil servant, Sunday Chinwike, fell victim to brand counterfeiters at Alaba Market. After saving for months to upgrade his living room TV, he was led to believe he could get a high-quality 55-inch LG smart television at a lower price.

Guided by local hustlers known as Osoafia boys, who posed as market insiders, Chinwike was led into a shop lined with neatly stacked LG-branded television cartons.

The shop assistants, later discovered to be impostors, showcased the television’s features, displayed an LG-branded remote control, and produced a seemingly convincing warranty card.

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“The price was N320,000, lower than elsewhere, but not suspiciously cheap. I trusted them. I didn’t understand the meaning of being careful until I was shortchanged,” Chinwike recalled.

Trader packing a counterfeited LG television into a carton after manually stamping LG logo on it

He said he was drawn in by claims of a promotional price and LG’s excess stock.

“After a brief test in the shop, the television came on, showed bright colours and looked genuine. Unfortunately, I did not pay attention to the software or the size,” the man said.

It was only after returning home that his son, Marcel, began navigating the settings and noticed anomalies.

“Some of the apps and software in the menu weren’t customised. After a series of checks, we discovered it wasn’t an LG product at all; it was a clone. We also realised it wasn’t as large as my neighbour’s television. Yet, surprisingly, most features worked, including Bluetooth and Wi-Fi,” Chinwike explained.

Shocked by the discovery, father and son returned to the shop seeking a replacement, only to encounter the real shop owner, who delivered an unexpected revelation.

“By the time we arrived, the seller had disappeared. The shop owner examined the television and said it was not his product. He said he did not even stock 55-inch LG televisions. The receipt I had did not come from his store. Apparently, Osoafia hustlers had sourced the set from another vendor and sold it as genuine,” Chinwike said.

The owner advised him to exercise more caution, clarifying that the product itself was not faulty, just that it was simply not authentic.

“The original model sells for about N750,000 and is roughly 10 inches larger than the one I bought. I had to return home with the fake television, wasting my transport fare. Still, it wasn’t entirely useless, and I learnt my lesson,” he added.

Chinwike’s experience, like that of many others, highlights a fractured system in which counterfeit global brands sustain livelihoods while ordinary Nigerians bear the brunt.

The menace of counterfeiting

Across Alaba International Market, counterfeit products, including telephones, cables, electronics, and televisions, are sold daily.

LG, Samsung, and Hisense are among the global brands most commonly imitated. Investigations by Sunday PUNCH revealed that traders import generic or substandard TV panels, assemble them locally, and brand them with popular logos. To the untrained eye, the products appear authentic, with carefully fabricated cartons, substandard remote controls, start-up screens, and serial numbers.

Experts warn that until regulatory agencies, brand owners, and policymakers enforce stricter measures, Alaba’s counterfeit economy will continue to thrive, ensnaring unsuspecting buyers behind familiar logos.

Regulatory agencies, including the Standards Organisation of Nigeria, have occasionally carried out raids in the market, seizing counterfeit goods and shutting down shops engaged in illegal activities.

However, enforcement has remained inconsistent. The market’s vast size, dense population, and political sensitivity mean that business often resumes almost immediately after raids. Brand owners have also faced criticism for weak local oversight and limited consumer education.

Millions lost to counterfeiting

The World Bank estimates that Nigeria loses around 15 per cent of potential GDP growth annually due to counterfeit products and related illegal trade.

Experts note that the Information and Communications Technology and electronics sectors are particularly vulnerable, with counterfeit devices contributing to poor service quality and financial losses for both consumers and original manufacturers.

Even international watchdogs have taken notice. In 2014, the Trademark Working Group, an informal collaboration of US companies facing challenges protecting their trademarks abroad, listed Alaba as one of Nigeria’s most notorious markets for counterfeit goods.

In 2018, SON revealed that Nigeria lost N15bn annually to counterfeiters.

A former SON director, John Achukwu, made this known at a stakeholders’ workshop on “Reduction of Substandard Products in Nigeria” for the South-East zone.

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Today, counterfeit goods are noted to make up 40 per cent of products in the Nigerian market, causing annual economic losses exceeding $20bn.

Many of these products, particularly electronics, are imported, and according to SON, the body had previously destroyed counterfeit items worth up to N500m in single operations.

Recent accounts from buyers highlight the persistence and severity of these scams.

A banker, Wilson Ebo, for instance, said he went to Alaba to buy a second-hand Samsung home theatre, only to realise it was counterfeit.

“After testing the sets and negotiating a price of N25,000, I paid and signed the receipt without scrutiny. Later, a shop assistant told me the DVD engine worked only on a generator and suggested a swap. When I asked for a refund, the seller refused. An elderly man posing as a mediator later revealed that the receipt excluded the subwoofer and speakers. It became clear that the mediator was part of the scam. I had no choice but to pay an extra N6,000, and even then, the so-called Samsung was fake, as the logo was simply glued on it,” he said.

Fake products, cheap alternatives

Sunday PUNCH’s investigation revealed a system sustained by economic hardship and weak regulation, even as some traders defended the sale of low-quality goods as affordable alternatives for the masses.

“The goods you call fake are actually cheap alternatives for the masses. If we sold only originals, what would the poor do? How many people can afford them? Customers want affordable products because of the country’s economic situation. Everyone is just trying to survive, and you cannot blame anyone for that. Those who cannot afford the original will go for an alternative and still enjoy their lives,” argued a trader, Joshua Chidozie.

He acknowledged that alternatives are not necessarily bad but warned that some hustlers do not provide buyers with true, full details.

Osoafia boys at Alaba

“If you are not careful, they will sell that same alternative to you as the original. In the market, there are always two products: original and copy. You can get the one you want, but if you don’t know and seek a cheaper product, they will sell you a copy in place of the original,” he added.

In contrast, an electronics engineer, Kenneth Ikwo, warned that the normalisation of counterfeiting has created a dangerous marketplace where deception has become routine. He noted that while consumers are often blamed for being ‘careless,’ the sophistication of counterfeit products makes it nearly impossible for the average buyer to identify a fake.

“You can’t be more careful than the criminals. Some counterfeit TVs pass basic on-the-spot tests but fail weeks or months later, long after the seller has disappeared. Beyond financial loss, the risks are serious. Substandard electronics can cause electrical faults, fires, and health hazards. Many fake TVs lack proper insulation and voltage regulation, which can burn sockets and damage entire apartments,” Ikwo warned.

He alleged that traders often source low-quality television sets from foreign manufacturers, particularly in China, without brand logos. Once in Nigeria, he noted, local printing shops produce counterfeit brand cartons to package the products as originals—a practice recently highlighted in a viral video circulating online.

Fake LG logo syndicate exposed

Recently, a suspected syndicate was exposed inside Alaba International Market for printing LG logos on cartons for 45-inch and 55-inch televisions. A viral video obtained by Sunday PUNCH showed the suspects stamping LG logos on cartons as they prepared the televisions for sale to unsuspecting customers.

Stack_of fake television inside of fake LG cartorns at Alaba Internationa Market, Ojo. Lagos

A voiceover in the video said, “Yesterday, I was in Alaba… and I came across this guy printing the LG logo on these new TVs.”

According to the narrator, over 3,000 cartons of counterfeit televisions were discovered inside the shop, raising fresh concerns about the scale of fake electronics flooding Lagos.

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Prospective buyers were urged to exercise caution, as branded packaging alone does not guarantee authenticity.

Why the menace persists

An electronics dealer in Festac town, Osita Udegbunam,  attributed the persistence of counterfeiting to poverty and the struggle for survival.

“As a first-time visitor to the market, you’ll encounter Osofia hustlers who direct you to shops or claim they have exactly what you are looking for. These are mostly unemployed young men with no capital to start trading, but with extensive knowledge of the market.

“They guide buyers to sellers, earning small tokens from both parties to survive. Even married men rely on these crumbs to support their families. This system exists in major markets – electronics, foodstuffs, and more,” he said.

Udegbunam noted that similar practices are common in Alaba Rago, the livestock market, where local boys guide buyers, as well as in cattle markets.

“However, due to hunger and desperation, some have turned to crime as a faster way to survive. No authority can solve this without addressing the root causes. Create jobs, reduce hunger, and make life meaningful for the masses, and these problems will diminish. Even graduates are involved. The hungrier the population, the more people drift into scams and crime,” Udegbunam added.

Supporting this, a trader in Oshodi, Jonathan Isibor, explained that while some hustlers are genuinely trying to make a living, others deliberately prey on unsuspecting buyers.

“The bad ones usually exploit greed. They may offer an LG 42-inch LED TV for N100,000 or quote other unrealistic prices. If you fall for it, you return the next day claiming you were scammed at Alaba. These scammers operate in organised rings, and once you fall into one, escaping their trap is difficult. The best protection is to remain alert and wary of their tricks,” he advised.

Isibor added that these hustlers cut across ethnic lines, Yoruba, Igbo, and Hausa, but are united by a single motive: defrauding unsuspecting buyers.

“Hunger knows no tribe, and crime has no colour. A Yoruba hustler may discourage you from buying from an Igbo trader, and vice versa, but they often belong to the same ring. Their sole aim is to defraud you,” he explained.

The trader also noted that task forces oversee different sections of the market. “Once you identify where you made a transaction, report it immediately to the task force, and it will be addressed. Alaba has many genuine, hardworking traders, but in a market of this size, bad actors will always exist. Buyers must stay observant, avoid shady deals, and carefully read receipts before signing or making payment,” he added.

 ‘We are hustlers, not criminals’

One of the Osoafia hustlers, Peter Balogun, rejected the criminal label often attached to them, insisting that most are simply trying to survive.

“We are not criminals,” he insisted. “We hustle to feed our homes. What we do is guide customers to traders who sell the products they are looking for. When a customer buys, we get a small commission from the trader or a token from the customer.”

Balogun acknowledged that some individuals exploit the system to commit scams, but emphasised that they do not represent the majority. “Bad people are spoiling the work for us, but many of us are genuine. Unemployment and hardship have pushed many young men into Osoafia hustling. There are no jobs. This market is how we survive,” he added.

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Forum dismisses claims of N210tn missing in NNPC accounts

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A coalition of professionals under the Ajiyya Solidarity Forum has dismissed allegations that about N210tn is missing from the accounts of the Nigerian National Petroleum Company Limited (NNPC).

Addressing journalists on Thursday, ASF National Coordinator, Usman Hamza, described the claim as “mathematically impossible” and politically motivated.

The group’s position is in response to a recent claim by the Chairman of the Senate Public Accounts Committee, Ahmed Wadada, that the NNPC Limited could not account for about N210tn.
Hamza said such a figure was misleading.

“Senator Wadada’s claim of N210tn ‘unaccounted for’ funds is a mathematical impossibility designed to shock the public,” Hamza said.

He argued that the claim did not align with Nigeria’s fiscal reality, noting that the country’s entire 2024 national budget stood at about N28.7tn.

“To suggest that a single entity ‘lost’ nearly eight times the national budget is an insult to the intelligence of Nigerians,” he added.

The forum also condemned threats of arrest warrants against former officials of NNPCL, including former Chief Financial Officer, Umar Ajiya, describing the move as part of a coordinated campaign of political blackmail.

According to the group, the Senate committee may have misinterpreted financial figures by combining accrued expenses and receivables in a way that falsely suggests missing funds.

“We consider that the committee has erroneously ‘netted’ N103tn in accrued expenses, largely joint venture liabilities, with N107tn in receivables owed to NNPCL. Labelling money owed to a company as ‘missing funds’ is a professional travesty,” Hamza stated.

During the ongoing review of the financial records of Nigerian National Petroleum Company Limited, the Senate Public Accounts Committee, chaired by Wadada, had raised concerns over alleged discrepancies running into trillions of naira.

The ASF maintained that the allegations ignored the broader financial and structural reforms undertaken by the national oil company in recent years.

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Furthermore, Hamza mentioned that the tenure of former CFO Ajiya coincided with the transition of the national oil firm into a commercial entity under the Petroleum Industry Act, a reform that ended decades of opaque financial reporting.

“Mr Ajiya’s tenure saw the transition of NNPC into a commercially driven entity and the publication of the first audited financial statements in 43 years,” the forum stated.

ASF defended the N5.9bn cost incurred during the transition process of NNPC to NNPC Limited, saying it covered complex legal and structural reforms required to transform the former state corporation into a limited liability company.

The forum warned that politicising the Senate’s oversight role could damage Nigeria’s credibility in the eyes of international investors.

“Using the Senate’s hallowed chambers to pursue personal vendettas damages Nigeria’s reputation with international investors,” Hamza said.

The forum further called on the leadership of the Senate to institute an independent ethics investigation into what it described as an alleged demand for bribes linked to the ongoing oversight process.

“We call on the Senate leadership and its Ethics Committee to investigate the alleged bribe demand connected to this oversight exercise,” he said.

He urged lawmakers to stop what he described as the harassment of officials who have already submitted several technical responses to the committee.

“Public accountability should be pursued through a sober forensic review of facts, not through sensational claims and phantom numbers,” he added.

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Poverty rate jumps to 63% after subsidy removal – Report

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About 63 per cent of Nigerians fell below the poverty line after the removal of petrol subsidy, according to a new study that examined the welfare impact of the country’s recent economic reforms.

The research, presented at a stakeholders’ dialogue organised by Agora Policy in Abuja on Thursday, showed that the national poverty headcount rose sharply from a baseline of about 49.8 per cent to roughly 63 per cent following the subsidy removal before moderating slightly after the introduction of social protection measures.

The dialogue, themed “Sustaining and Deepening Economic Reforms in Nigeria,” brought together policymakers, economists, civil society leaders, and private sector representatives to examine the effects of the Federal Government’s reform agenda.

Among those present were the Deputy Governor for Economic Policy at the Central Bank of Nigeria, Dr Muhammad Abdullahi; the Special Adviser to the President on Finance and Economy, Ms Sanyade Okoli; the World Bank Senior Economist for Nigeria, Dr Samer Matta; the Country Director of CARE International, Dr Hussaini Abdu; and the Executive Director of Agora Policy, Waziri Adio, among others.

The study, presented by a Senior Lecturer at the  Department of Economics, University of Abuja, Dr Mohammed Shuaibu, analysed the economic and social consequences of key reforms introduced by the Federal Government, including the removal of petrol subsidy and adjustments in electricity tariffs.

President Bola Tinubu had announced the end of petrol subsidy during his inaugural address on May 29, 2023. According to the study, the policy triggered broad price increases across the economy and significantly affected household welfare. “After the subsidy removal, poverty increased from a baseline of about 50 per cent to 63 per cent,” Shuaibu said.

He added that the introduction of social protection measures helped moderate the impact but did not fully reverse the deterioration in welfare conditions. “However, when social protection measures such as cash transfers were introduced, the poverty rate moderated to around 56.2 per cent,” he said.

The findings indicated that the immediate effects of the reform were unevenly distributed across different income groups. While high-income households remained largely insulated from the shocks, low-income households experienced the most severe erosion of purchasing power.

Data from the study showed that poverty among low-income households rose sharply from about 50 per cent before subsidy removal to roughly 63 per cent afterwards, while the national poverty gap widened significantly.

The poverty gap at the national level increased from 31.6 per cent to more than 45 per cent following the policy change, indicating a deeper level of deprivation among poor households.

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Although social transfers slightly reduced the gap, the improvement remained limited due to delays in the rollout of intervention programmes and the relatively small scale of support provided.

The study also assessed how the reforms affected household consumption patterns. According to the findings, consumption levels declined across income groups following the removal of the subsidy and the adjustment of electricity tariffs.

“Across the board, household consumption declined following both the subsidy removal and electricity tariff adjustments. However, social transfers helped cushion the impact, especially for low-income households,” Shuaibu said.

The analysis showed that the effect on consumption was particularly pronounced among rural and low-income households, where rising energy and transport costs significantly reduced spending capacity.

Households in urban low-income groups also experienced declines in consumption, although the impact was somewhat moderated where social transfers were introduced.

Beyond household welfare, the research also examined the broader macroeconomic consequences of electricity tariff reforms.

The study found that electricity tariff adjustments resulted in a modest increase in consumer prices, initially raising prices by about 0.26 per cent, which later rose to roughly 0.52 per cent after the inclusion of social protection measures.

However, the electricity reform produced a small positive impact on economic output. According to the analysis, real Gross Domestic Product increased by about 0.42 per cent under the reform scenario before moderating to around 0.21 per cent when social protection programmes were factored into the model.

Firm-level investment also recorded slight gains following electricity tariff adjustments, although these improvements were partly offset by the cost of implementing social protection measures.

In contrast, the removal of the petrol subsidy had a contractionary effect on economic activity. The study showed that rising fuel prices and transport costs triggered inflationary pressures that weighed on business activity and investment.

Beyond the quantitative modelling, the research incorporated insights from focus group discussions conducted across Nigeria’s six geopolitical zones. These discussions involved households and businesses and provided qualitative evidence on how Nigerians were coping with the economic changes.

Participants generally acknowledged the need for reforms given the country’s fiscal and macroeconomic challenges, but many criticised the speed at which the policies were introduced.

Households reported that the reforms rapidly eroded purchasing power and forced many families to adopt survival strategies. “Households adjusted to the shocks not through recovery but through sacrifice,” Shuaibu said.

According to the study, many households responded by cutting consumption, reducing transport use, rationing electricity, and borrowing money to meet basic needs. Several respondents also said they had received little or no assistance from government support programmes designed to mitigate the effects of the reforms.

Businesses reported similar difficulties, noting that rising fuel and electricity costs significantly increased operating expenses. Some firms said they had been forced to raise prices, reduce staff strength, or shut down operations entirely.

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Others reported switching to alternative energy sources to cope with rising electricity tariffs and fuel costs. However, many business owners said that promised government support programmes had either not reached them or were insufficient to offset rising costs.

The study concluded that while the reforms were necessary to correct structural distortions in the Nigerian economy, their implementation created severe short-term shocks.

Providing a monetary policy perspective at the dialogue, the Deputy Governor of the CBN for Economic Policy, Muhammad Abdullahi, said the reforms became unavoidable because the Nigerian economy had been weakened by deep structural distortions.

“Nigeria faced severe macroeconomic imbalances, economic distortions, and collapsing revenues before major reforms began,” he said.

According to Abdullahi, the country had suffered a dramatic decline in oil revenue over the past decade.

He disclosed that earnings from crude oil fell from about $92bn in 2012 to less than $2bn in 2023, representing a decline of nearly 98 per cent in expected revenue during the period.

The situation, he said, contributed to severe fiscal pressure and made policy reforms unavoidable. The CBN official also noted that Nigeria inherited major distortions in the foreign exchange market, including multiple exchange rate windows that encouraged arbitrage.

According to him, the subsidy regime and exchange rate distortions together were estimated to have cost the Nigerian economy about six per cent of its Gross Domestic Product.

Abdullahi also disclosed that the CBN inherited a backlog of about $7bn in foreign exchange obligations owed to businesses and investors. He said the apex bank had already cleared about $4.5bn of the backlog in an effort to restore confidence in the financial system.

He added that restoring confidence in the foreign exchange market and improving oil sector performance were critical to stabilising the economy. Abdullahi also said Nigeria’s foreign reserve position was weaker than it appeared before the reforms.

Although official reserves were reported to be about $32bn, he explained that much of the funds consisted of borrowed resources and swaps, leaving the country with net reserves of only about $800m.

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Despite the difficult transition, he said the reforms were beginning to produce early results. According to him, inflation has been declining steadily for about 19 months, while food inflation is currently at its lowest level in about 13 years.

He added that Nigeria was gradually moving towards single-digit inflation, something the country has not achieved in more than a decade. Abdullahi further stated that net foreign reserves had improved significantly, rising from about $800m to roughly $32bn, a development he said had strengthened international investor confidence.

He also pointed to rising non-oil exports, which reached about $6bn last year, with the government targeting $12bn in the near future.

Also speaking at the dialogue, the Director-General of the Lagos Chamber of Commerce and Industry, Dr Chinyere Almona, said the reforms had corrected several long-standing distortions but had also placed heavy pressure on businesses.

Almona noted that the removal of petrol subsidy alone could save the government about $7.5bn annually, which should be invested in infrastructure and human capital development. “For the private sector, what we want to see is that the savings from the fuel subsidy removal are actually being used to fund infrastructure,” she said.

She explained that rising fuel prices had significantly increased electricity generation costs for businesses. Almona added that while macroeconomic indicators such as reserves and the balance of payments had improved, many Nigerians had yet to experience the benefits.

“The economy is improving at the macro level, but that improvement has not trickled down to the common man and many small businesses,” she said.

She therefore urged the government to introduce complementary policies that would support businesses, including improved access to credit and targeted assistance for small and medium-sized enterprises.

The Chair of Agora Policy, Ojobo Ode Atuluku, said the dialogue was organised to promote evidence-based discussion on Nigeria’s reform agenda. He explained that the initiative was supported by the Nigeria Economic Stability and Transformation programme and the United Kingdom’s Foreign, Commonwealth and Development Office.

World Bank economist Samer Matta urged the government to expand social protection programmes and strengthen the National Social Register to ensure that assistance reaches vulnerable populations quickly.

He added that sustained dialogue and stronger safety nets would be critical to maintaining public support for Nigeria’s economic reforms and ensuring that growth becomes more inclusive.

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Nigerians most exploited by telecom, energy firms – FCCPC

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Energy, fintech, and telecommunications companies generate the highest number of consumer complaints in Nigeria, the Federal Competition and Consumer Protection Commission (FCCPC) has declared.

The agency’s Executive Vice Chairman, Tunji Bello, made this known on Thursday while briefing State House correspondents at the Aso Rock Presidential Villa, Abuja. Bello said the commission had received thousands of complaints from Nigerians across these sectors and had recovered over N20bn for consumers as of March 2026.

According to him, the commission resolved more than 9,000 complaints and recovered over N10bn for consumers between March and August 2025 alone.

“Let me tell you where most complaints come from. Mostly on energy, fintech. For energy, people complain about the electricity supply, and so on. That’s where we get most complaints. And that led to recent action in Lagos against a disco. Also fintech. You know, people do a lot of transactions online, and most of them are either given unfair terms.

“Somebody has borrowed money, and then you discover that when they ask to pay back, the interest rate is outrageous. Most of them we have interrogated, and we’ve been able to resolve as many as possible,” Bello stated.

He added that the telecommunications sector and banks also account for significant complaints, noting that the commission receives about 25,000 complaints annually through various platforms. Bello said cumulative recoveries for consumers had exceeded N20bn as of March 2026, up from N10bn recorded in October 2025.

The FCCPC boss also revealed that the commission had begun monitoring petrol prices and other commodities across the country following the escalating United States-Israeli-Iran conflict in the Middle East. He said the agency deployed monitors nationwide to track price movements and prevent fuel suppliers and petrol stations from exploiting Nigerians.

“We are presently monitoring the situation as it affects prices in Nigeria and various prices. Because it’s not just petrol. Petrol has supply effects on some of the things we eat or we take on a daily basis.

“So we are monitoring. I will still want to see it as a temporary measure. But you know, the federal government under the leadership of our president has recorded massive gains in the last two years, and we don’t want to see this as something that will now begin to offset that progress,” Bello said.

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He explained that the commission was working with regulators in the petroleum sector to ensure compliance with pricing regulations.

“Whatever the fuel suppliers dictate, if the petrol stations are not complying, those are the things we are trying to monitor. If somebody has reduced N100 or N200 from it and you are still selling your own for N1,500 per litre, we should be able to ask you, ‘ Why are you doing that? So those are the things that our monitors are outside already monitoring developments,” he stated.

Bello also disclosed that the commission was collaborating with the Nigerian Upstream Petroleum Regulatory Commission to strengthen compliance oversight.

In the aviation sector, Bello said the commission would compel airlines that hiked ticket prices during the December 2025 Yuletide period to refund excess charges to passengers who were exploited.

He disclosed that investigations into price-fixing allegations involving about five or six airlines had been concluded and that the commission would soon release its final report with penalties.

“We investigated following the complaints that they fixed prices during the Christmas period. Prices of airline tickets were around N45,000 to N50,000, and suddenly became N400,000 to N500,000, from N400,000 to N670,000 during the Christmas period. So we followed up through our investigation, and we were able to conclude that it was a kind of price-fixing mechanism,” Bello said.

He added that the preliminary report had already found the airlines culpable of price exploitation. “The preliminary report already found them wanting in that regard, so the final report is going to be issued very soon.

“And what we are also considering is to look at a situation where we have to ask them to refund the excess to the passengers, which they exploited. So those are some things we are considering. By the time we come up with the final report, you will see that,” he stated.

When pressed to name the airlines involved, Bello declined but confirmed that about five or six carriers were under investigation. “I know about five or six, but I don’t want to mention names,” he said.

The commission’s action followed complaints from Nigerians who travelled during the Christmas and New Year period and were forced to pay exorbitant fares for domestic flights due to high demand and limited seat availability.

See also  Nigerians most exploited by telecom, energy firms – FCCPC

Many travellers had taken to social media to protest the sudden spike in ticket prices, describing them as exploitative given the prevailing economic hardship. Bello said preliminary findings suggested that the airlines might have engaged in collective price-fixing, a practice prohibited under the Federal Competition and Consumer Protection Act.

Price-fixing occurs when competing businesses agree to set prices at a certain level rather than allowing market forces to determine pricing, and it is considered anti-competitive behaviour punishable under Nigerian law. Previous enforcement actions by the FCCPC have typically focused on fines and penalties payable to the government.

During the briefing, the FCCPC also addressed concerns about electricity tariff bands, with officials defending the Band A classification while acknowledging that consumers are not always receiving the promised 20 hours of daily power supply.

The Commission’s Executive Commissioner of Operations, Louis Odion, explained that the commission’s role was not price control but ensuring that consumers were not exploited through the pricing of products or services.

“We are not a price control agency, but what we try to do is to ensure that consumers are not exploited, either by way of the pricing of products or services. In the electricity sector, that is where we have most of the challenges that consumers contend with in this country,” he said.

Odion disclosed that Band A consumers, who pay higher tariffs, are entitled to at least 20 hours of electricity supply daily, while Band B consumers should receive 16 hours. He urged consumers to formally complain when they do not receive the promised hours of supply, noting that the commission operates an evidence-based system.

“A lot of times, if you go ask them, they will tell you this estate is actually on Band A, but we haven’t received any formal complaint from the estate as to the fact that this is the number of hours of electricity we are receiving. Our operational work is evidence-based. If we do not have evidence of a particular issue, we are not able to actually act on it,” he explained.

On prosecution powers, the commission’s Head of Legal Services, Chizenum Nsitem, revealed that the FCCPC had prosecuted over 25 cases since the operationalisation of the Federal Competition and Consumer Protection Act in 2019.

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“At the last count, we have over 25 cases that we have been able to prosecute, given the infractions of the provisions of the FCCPA. For the fear of being prosecuted, undertakings have complied relatively with provisions of the FCCPA,” Nsitem said.

He disclosed that the commission currently has over 30 cases pending at the Federal High Court and the FCCPC Tribunal, including five cases at the Court of Appeal where undertakings have appealed tribunal decisions.

The legal chief cited Section 20(2) of the FCCPA, which empowers legal officers to prosecute on behalf of the commission, and Section 113, which allows referral of cases to the Attorney-General of the Federation.

The FCCPC was established to protect and promote the interests and welfare of consumers, ensure that consumers’ rights are respected, and provide them with access to information to make informed choices.

Nigeria’s aviation sector has faced criticism over fluctuating ticket prices, with airlines attributing high fares to rising aviation fuel costs, foreign exchange challenges, and operational expenses.

On cement prices, Bello said the commission had set up an investigative team to probe pricing across the federation following complaints from Nigerians.

“We are already investigating the cement prices across the Federation. I don’t want to preempt that investigation. We have set up an investigative team already. They are going around at the moment. And I’m sure by the time we come out with our full report, it will be published, and everybody will see,” Bello said.

On telecommunications tariffs, Bello revealed that the FCCPC worked with the Nigerian Communications Commission last year to reduce a proposed 100 per cent tariff increase by telecom companies to 50 per cent.

“Last year, when they were going to increase the rates telecoms were charging, through our MOU with them, they consulted us. The telecom companies were going to increase by 100 per cent. We persuaded through that negotiation that no, you cannot, because of the inflation rate at that time. We were able to manage them to come down to 50 per cent,” Bello said.

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