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FCCPC flags rising circulation of substandard goods

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The Federal Competition and Consumer Protection Commission (FCCPC) has expressed concern over the increasing prevalence of unsafe and substandard products in Nigerian markets, warning that this trend is eroding consumer trust and undermining the country’s economic integrity.

The Executive Vice Chairman and Chief Executive Officer of the FCCPC, Tunji Bello, raised the alarm on Wednesday in Abuja during the commemoration of World Consumer Rights Day 2026 and the 9th National Consumers Contest Awards.

Speaking on the theme, “Safe Products, Confident Consumers,” Bello said the rising uncertainty around product safety is already affecting market behaviour and consumer confidence.

“We are gathered at a time when product safety has become central to market integrity, consumer confidence, and public welfare. The theme for this year’s celebration, Safe Products, Confident Consumers, captures a simple but important truth: where safety is uncertain, confidence declines.

“And where confidence declines, markets become weaker, less efficient, and less trustworthy. Across several sectors, the Commission continues to encounter products that do not meet basic safety and quality standards. These include improperly labelled goods, products that fall short of essential safety requirements, and, in some cases, conduct that raises concerns about misrepresentation,” he said.

Bello, who was represented by FCCPC’s Director of Surveillance and Investigation, Bola Adeyinka, disclosed that the Commission continues to find a wide range of products failing to meet basic safety and quality standards across multiple sectors.

He noted that these include improperly labelled goods, unsafe products, and instances of misrepresentation by manufacturers and distributors, attributing the problem to weak internal controls, poor compliance culture, and, in some cases, deliberate disregard for regulatory obligations.

Linking product safety directly to economic stability and investor confidence, Bello explained that unsafe markets discourage participation, distort competition, and reduce overall economic efficiency.

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“Some of these failures arise from weak internal controls. Others reflect gaps in compliance culture. In certain instances, there are indications of deliberate disregard for legal and regulatory obligations.

“The effect is immediate and serious. Consumers are exposed to avoidable risks, trust in the market is weakened, and law-abiding businesses are placed at a disadvantage. Product safety, therefore, cannot be treated as a secondary matter. It is a core obligation, with clear public interest consequences.

“This approach aligns with the Federal Government’s ongoing economic reform programme, which focuses on strengthening market integrity, improving consumer confidence and promoting a rules-based business environment,” Bello stated.

He emphasised that consumer protection is not just a regulatory responsibility but a vital pillar for sustainable economic growth. “When markets are safe, reliable, and transparent, they support sustainable growth and give investors greater confidence to participate,” he added.

Bello warned that the Commission would enforce compliance rigorously, stressing that product safety is a legal obligation under the Federal Competition and Consumer Protection Act 2018.

He added that any product posing risks must be addressed immediately. “Consumers are entitled to goods that are safe, durable, and fit for purpose. Businesses are under a duty to ensure that the products they place on the market consistently meet these standards.”

“Where a product presents a risk, the law requires prompt corrective action, including withdrawal, recall, and proper notice to consumers. These are not optional expectations. They are statutory duties,” he said.

The FCCPC has expanded market surveillance and strengthened product testing in key sectors. “Where conduct raises concerns about consumer safety, such matters are investigated. Where breaches are established, appropriate enforcement action is taken in line with our mandate,” Bello added.

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To tackle systemic issues, the Commission is deepening collaboration with other regulators, including the Standards Organisation of Nigeria and the National Agency for Food and Drug Administration and Control.

He explained that these partnerships focus on information sharing, coordinated enforcement, and joint interventions to close regulatory gaps. “Consumer protection is most effective when institutions work in concert. Effective outcomes depend on alignment in standards, consistency in enforcement, and clarity in institutional responsibilities.

“We are pleased to be joined today by the Competition and Consumer Protection Tribunal, the Standards Organisation of Nigeria, the National Agency for Food and Drug Administration and Control, and the Manufacturers Association of Nigeria. Each plays an important role in ensuring that products meet acceptable standards before and after they enter the market. Effective outcomes depend on alignment in standards, consistency in enforcement, and clarity in institutional responsibilities,” Bello said.

Addressing concerns over rising prices, Bello clarified that the FCCPC does not regulate prices but remains committed to tackling unfair practices. “The commission does not control prices. However, fair pricing is an essential part of a well-functioning market. We will continue to act where conduct undermines fairness, transparency, or safety, or otherwise harms consumers in breach of the law.”

He urged manufacturers, importers, and service providers to integrate product safety at every stage of operations.

“Product safety must be built into every stage of your operations, from sourcing and production to distribution and retail. It cannot be treated as an afterthought or as a matter to be addressed only after harm has occurred. Where defects or safety risks are identified, timely corrective action is required. Delay increases exposure, deepens consumer harm, and erodes trust.

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“Failure to act responsibly will attract regulatory response. Compliance is not a favour to the regulator. It is a basic condition for participating in the market. To Nigerian consumers, remain informed, vigilant, and engaged. Ask questions. Examine products before purchase. Pay attention to labelling, quality, and safety information. Report concerns where they arise,” he said.

He also called on consumers to play a more active role in safeguarding the market. “To Nigerian consumers, remain informed, vigilant, and engaged. Ask questions. Examine products before purchase. Pay attention to labelling, quality and safety information,” Bello said.

“Consumer protection is stronger when consumers are informed and active participants in the market.”

Highlighting the role of education, Bello commended participants in the National Consumers Contest, describing them as future advocates of responsible consumption. “Consumer protection is not only about enforcement. It is also about education, awareness, critical thinking, and responsible engagement,” he said.

Nigeria has long struggled with the influx of substandard and counterfeit goods, particularly in food, pharmaceuticals, electronics, and household items. Regulators have repeatedly pointed to porous borders, weak enforcement, and low compliance as key contributors to the problem.

The FCCPC’s renewed efforts signal a tougher regulatory stance, especially as the government seeks to strengthen market institutions under its broader economic reform agenda.

For both consumers and businesses, the commission’s message is clear: restoring trust in Nigeria’s markets requires stricter compliance, stronger enforcement, and more active participation from all stakeholders.

“Safe and reliable markets depend on responsible business conduct, effective regulation, and informed consumer participation. That standard must be upheld consistently,” Bello concluded.

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Tax revenue hits N27tn after 113% surge – Report

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Nigeria’s tax collections have surged by 113 per cent in less than three years, rising from N12.3tn in 2023 to N27.1tn as of July 2026, the Nigeria Revenue Service has said.

The revenue authority attributed the sharp increase to the digitisation of the tax system, the enactment of four new tax reform laws, the transformation of the revenue service and an executive order aimed at closing loopholes in the tax system.

The NRS, in an internal report on the state of the Nigerian economy obtained by The PUNCH on Sunday, insisted that the country was moving from a period of severe macroeconomic distress towards a more stable and resilient economy following the implementation of a series of difficult reforms by the President Bola Tinubu administration.

“Tax collections more than doubled from N12.3tn in 2023 to N27.1tn as of July 2026 with the “digitisation of tax systems, four new tax reform laws, the transformation of the revenue service and an executive order that closed loopholes in the system.

“The Nigerian economy has moved decisively from acute macroeconomic distress toward a more stable and increasingly resilient footing,” the revenue service said.

The NRS attributed the development to what it described as Tinubu’s economic management acumen and determination to implement reforms under his administration’s Renewed Hope Agenda.

According to the report, the administration inherited four major economic distortions which had continued to undermine government revenue and economic growth.

It identified the challenges as “a fiscally unsustainable fuel subsidy regime, an opaque forex system that discouraged investment, a non-performing oil sector, and a tax base ‘far below its potential’.”

The revenue authority said the initial impact of the reforms created significant economic difficulties but maintained that the country’s major economic indicators had subsequently begun to improve.

It cited falling inflation, a turnaround in the balance of payments, increased crude oil production, the emergence of Nigeria as a net exporter of petroleum products and the more than doubling of tax collections as evidence of the recovery.

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The report also highlighted an increase in the minimum wage, saying it had doubled between 2023 and 2026.

It further cited estimates by the United Nations Children’s Fund showing that the number of out-of-school children had declined from 20 million to 18.3 million following government policies and incentives.

The NRS said the government’s naira-for-crude arrangement with the Dangote Petroleum Refinery and other domestic refineries had contributed to a major shift in Nigeria’s petroleum trade position.

According to the report, the arrangement had helped Nigeria move from being a net importer of petroleum products to becoming a net exporter after decades of dependence on imports.

It noted that Ghana had recently decided to pursue a similar policy in its petroleum sector. The report also said crude oil production had increased from about 1.2 million-1.3 million barrels per day in 2023 to 1.73 million barrels per day by July 2026.

It said the latest output was equivalent to 104 per cent of Nigeria’s OPEC quota. The increase in production is significant for government revenue because crude oil remains the country’s largest source of foreign exchange and a major contributor to public finances.

The NRS also pointed to developments in the capital market as another indication of improving economic confidence. It said the market capitalisation of the Nigerian Exchange had risen from N30.36tn in 2023 to N161tn in 2026, describing the increase as a source of wealth creation for millions of Nigerians who invest in the stock market.

The report attributed the market rally partly to improved macroeconomic credibility, the recapitalisation of banks and a growing pool of domestic institutional investment.

Nigeria’s external reserves also rose sharply during the period under review. According to the NRS report, reserves increased from an unrestricted $3.99bn in 2023 to $51.9bn as of July 2026, which it described as a 17-year high.

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The country’s balance of payments also moved from a $3.34bn deficit to a $2.38bn surplus in the first quarter of 2026, the report stated. Nigeria’s trade position similarly recorded a significant improvement, moving from a marginal surplus of N44.7bn to N7.55tn in the first quarter of 2026.

The composition of exports also showed some changes, with exports of other oil products, excluding crude, rising by 51 per cent year-on-year to N6.78tn during the first quarter.

The revenue service said improved investor confidence was also reflected in capital importation. Annual capital importation rose from $3.9bn in 2023 to $23.22bn in 2025, while inflows reached $10.37bn in the first quarter of 2026 alone.

The report said foreign portfolio investment had been particularly strong, while foreign direct investment had also improved. The increase in capital inflows, according to the NRS, reflected stronger investor confidence as economic reforms reshaped the operating environment.

The revenue service further highlighted the expansion of the compressed natural gas programme as part of the government’s response to the removal of the petrol subsidy.

According to the report, Nigeria had no large-scale CNG programme three years ago and depended heavily on imported petrol and diesel. By 2026, however, more than 100,000 vehicles had reportedly been converted to CNG, with more than $2bn in investment mobilised and over 10,000 jobs created.

The NRS estimated that CNG could reduce running costs by between 40 and 60 per cent compared with petrol. It said some commercial drivers had seen their monthly fuel bills fall from about N50,000 to N18,000 after converting their vehicles.

On agriculture and food security, it recalled that the administration declared a state of emergency on food security in July 2023 and subsequently introduced measures including the release of strategic grain reserves, the establishment of a N100bn National Agricultural Development Fund, fertiliser distribution and an agricultural mechanisation programme.

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Federal agricultural allocation rose from N228.4bn in 2023 to N826.5bn in the 2025 budget, according to the report. The NRS said food prices had fallen by about 50 per cent by March 2026, citing the Ministry of Agriculture.

However, it acknowledged that agriculture would require several planting seasons before increased government support could translate fully into higher production.

On public debt, the NRS acknowledged that Nigeria’s total debt stock had increased substantially, from N87.4tn in 2023 to N159.28tn in late 2025. However, it argued that the more important measure was the country’s debt relative to the size of its economy.

According to the report, the debt-to-GDP ratio declined from 38 per cent in 2023 to 35.5 per cent in 2025 and 32.3 per cent in 2026. The revenue service described the decline as the first sustained reduction in the ratio in more than a decade.

It also said debt servicing as a proportion of government revenue had declined from 68 per cent to an International Monetary Fund-projected 53 per cent.

The NRS said the combination of higher tax collections, increased oil production, stronger capital inflows, rising reserves and improved trade and balance of payments positions pointed to an economy that was gradually emerging from the severe pressures that followed the government’s early reforms.

The report nevertheless acknowledged that the gains came after what it described as “painful” adjustments and stressed that continued implementation of the reforms would be required to consolidate the recovery.

Source: punchng.com

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NLC demands N500k minimum wage, says current N70k minimum wage is no longer sustainable

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The Nigeria Labour Congress (NLC) says it will soon begin negotiations with the Federal Government for a new national minimum wage, insisting that the current N70,000 wage is no longer sustainable.

Speaking at the Rights of Workers Summit in Birnin Kebbi on Thursday, NLC President Joe Ajaero, represented by Deputy President Audu Titus Amba, said workers should prepare for fresh negotiations.

He argued that the current minimum wage could no longer meet workers’ basic needs amid rising inflation and the increasing cost of living.

“Anything less than N500,000 cannot cater for workers. The current minimum wage is due for review, and we will soon begin negotiations with the government,” he said.

Also speaking, Trade Union Congress (TUC) President Festus Osifo, represented by Secretary-General Nuhu Toro, said worsening economic conditions had eroded workers’ purchasing power.

He cited rising food prices, transport fares, rent and inflation as factors making the current wage inadequate.

President Tinubu signed the current national minimum wage bill into law on July 29, 2024, raising it from N30,000 to N70,000 per month. The legislation followed negotiations with organized labor and included a provision to review the wage structure every three years.

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Ondo artisans beg FG for inclusion in empowerment programmes

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Artisans and skilled workers in Ondo State have appealed to the Federal Government to include them in various empowerment programmes under President Bola Tinubu’s Renewed Hope Agenda.

The artisans, under the aegis of the Artisan Defender and Empowerment Foundation, said over 25,000 members of the group had been neglected despite their support for the re-election of the President.

This was contained in a statement issued on Friday by the Chairman and General Secretary of the association, Engr. Ogundipe James and Adebayo Olugbenga, respectively.

According to the statement, the group was founded and registered with the Federal Government to promote the interests of Niger Delta artisans and skilled workers, adding that its members needed government support through empowerment initiatives.

The statement read, “It was evident, the neglect of the welfare and empowerment of over 25,000 artisans that this organisation controls, for which we are advocating better welfare, skills and vocational training, empowerment, workshops and recognition of political strength and weight the coalition commands in the voting structure.

“The deteriorating situation of artisan welfare, particularly in Ondo State, is why the body is seeking immediate attention, mostly empowerment and skills upgrading from the primary concerned government agencies—the Federal Ministry of Trade and Investment, Directorate of the Office of Humanitarian Affairs and Poverty Reduction, Small and Medium Enterprises Development Agency of Nigeria, Presidential Amnesty Programme, among others.

“The neglect of this very important organisation, which plays a vital role in employment and the growth of the national economy, will cause disagreement and affect political support that comes from this coalition group.”

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The statement urged the concerned Federal Government agencies to consider the proposals earlier submitted by the group to enhance the support of its members for the President’s administration.

The group stated, “We call on the agencies mentioned above, demanding immediate attention to the proposals that have earlier been sent to this parastatal.

“This is a public warning and general awareness that failure to listen to Niger Delta Artisan Forum’s demands will lead to a national protest and have huge political support consequences for the continuation of the Renewed Hope Agenda of President Bola Ahmed Tinubu come the 2027 election, if attention is not immediately given to the demands.”

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