Competition watchdog probes airline price-fixing, monitors petrol costs amid Middle East tensions, and warns firms against exploiting Nigerian consumers…..
Nigeria’s consumer protection regulator has revealed that companies in the energy, fintech, and telecommunications sectors account for the largest share of complaints filed by Nigerians each year.
The disclosure was made on Thursday by the Executive Vice Chairman of the Federal Competition and Consumer Protection Commission (FCCPC), Tunji Bello, during a media briefing with State House correspondents at the Presidential Villa in Abuja.
According to Bello, the commission has recovered more than N20 billion for consumers as of March 2026, following thousands of complaints lodged across different industries.
He explained that between March and August 2025 alone, the agency successfully resolved over 9,000 complaints, returning more than N10 billion to affected consumers.
“Let me tell you where most complaints come from mostly energy and fintech,” Bello said.
He noted that electricity supply issues dominate complaints in the energy sector, adding that such grievances recently led to enforcement action against an electricity distribution company in Lagos.
Fintech platforms also generate significant consumer disputes, particularly involving digital lending services that impose steep interest rates.
“People borrow money online and when it’s time to repay, they discover the interest rate is outrageous,” Bello said, adding that many of such cases had been investigated and resolved by the commission.
Telecoms and Banks Also Under Scrutiny
Beyond energy and fintech, Bello said the telecommunications sector and banking industry also account for a notable share of consumer grievances.
The FCCPC receives around 25,000 complaints annually through various reporting channels, he added.
The commission’s cumulative recoveries for consumers have continued to rise sharply. Bello said the figure had climbed from about N10 billion recorded in October 2025 to more than N20 billion as of March 2026.
FCCPC Monitoring Fuel Prices
The consumer watchdog also revealed it has begun monitoring petrol prices and other essential commodities nationwide following the escalating geopolitical tensions involving the United States, Israel, and Iran.
Bello said FCCPC monitoring teams have been deployed across the country to track price movements and ensure fuel suppliers and filling stations do not exploit the situation to inflate prices.
“We are presently monitoring the situation as it affects prices in Nigeria,” he said. “Petrol has supply effects on many of the things we consume daily, so we are watching developments closely.”
He added that the commission was working with regulators in the petroleum industry, including the Nigerian Upstream Petroleum Regulatory Commission, to ensure compliance with pricing regulations.
According to him, the agency will question any filling station that refuses to adjust prices despite reductions in supply costs.
“If someone reduces N100 or N200 and you’re still selling petrol at N1,500 per litre, we will ask why,” Bello said.
Airlines Face Possible Refund Orders
The FCCPC also revealed it has concluded investigations into allegations of price-fixing by several domestic airlines during the December 2025 Christmas travel period.
Bello said about five or six airlines were investigated after passengers complained about sudden spikes in ticket prices during the holiday season.
According to him, fares that typically ranged between N45,000 and N50,000 surged to as high as N400,000 to N670,000.
Preliminary findings, he said, indicate that the airlines may have engaged in collective price-fixing, an anti-competitive practice prohibited under Nigeria’s competition law.
“The preliminary report already found them wanting,” Bello stated, adding that the commission is considering ordering the airlines to refund the excess charges paid by passengers once the final report is released.
However, he declined to name the carriers involved until the investigation report is formally published.
Electricity Tariffs and Consumer Rights
During the briefing, FCCPC officials also addressed concerns about electricity tariff classifications, particularly the Band A tariff category, which requires electricity distribution companies to provide at least 20 hours of power supply daily.
The commission’s Executive Commissioner for Operations, Louis Odion, said many consumers complain about inadequate electricity supply but often fail to submit formal reports.
He explained that enforcement actions require documented evidence.
“If consumers are not receiving the number of hours promised under their tariff band, they must formally complain,” Odion said. “Our operations are evidence-based.”
Under the current system, Band A consumers should receive at least 20 hours of electricity daily, while Band B customers are entitled to around 16 hours.
FCCPC Steps Up Enforcement
On legal enforcement, the commission’s Head of Legal Services, Chizenum Nsitem, revealed that the agency has prosecuted over 25 cases since the Federal Competition and Consumer Protection Act came into force in 2019.
He said more than 30 cases are currently pending at the Federal High Court and the FCCPC Tribunal, with additional appeals before the Court of Appeal.
The FCCPC was established to protect consumer rights, promote fair competition, and ensure businesses operate within the bounds of Nigerian law.
Cement Prices Under Investigation
The commission is also investigating rising cement prices across the country after receiving complaints from Nigerians about sharp increases.
Bello said a dedicated investigative team had already begun gathering information nationwide.
“I don’t want to preempt the investigation,” he said, “but when the full report is ready, it will be made public.”
Telecom Tariff Hike Reduced
Bello also revealed that the FCCPC intervened last year when telecommunications companies proposed a 100 percent tariff increase.
Working alongside the Nigerian Communications Commission, the commission pushed back against the proposal, eventually negotiating a reduced increase of 50 percent instead.
He said the move was necessary to protect consumers already struggling with high inflation and rising living costs.
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