The Federal Competitors and Shopper Safety Fee on Friday introduced that it has broadened its investigation into the pricing templates utilized by some airways on home routes, following rising public inquiries and considerations about airfare hikes.
In latest days, widespread complaints have emerged over what many passengers consider to be coordinated manipulation or exploitative ticket pricing by sure carriers, significantly on routes within the South-East and South-South as journey demand will increase in the course of the festive interval.
The FCCPC mentioned the expanded probe particularly targets operators on the affected routes.
Earlier this 12 months, main airline Air Peace filed a court docket motion geared toward stopping the Fee from reviewing its pricing mannequin after the FCCPC launched an inquiry prompted by vital public outcry.
The Fee famous that its ongoing investigation is continuing independently of the authorized case instituted by Air Peace.
Clarifying the FCCPC’s mandate, Government Vice Chairman/CEO, Tunji Bello acknowledged, “For the avoidance of doubt, we aren’t a value management board. However the FCCPA 2018 empowers us to test the exploitation of customers. After we obtain petitions or the place we discover cogent proof, we won’t stand by and watch Nigerian customers being exploited beneath any guise.”
He emphasised that the Fee will take motion every time proof exhibits client welfare or market competitiveness is being compromised.
Below Part 17(b) of the FCCPA, the FCCPC is empowered to watch {economic} actions throughout Nigeria to establish anti-competitive, anti-consumer safety, and restrictive practices which will negatively have an effect on customers. As well as, Part 17(e) permits the Fee to conduct any required investigations.
Even whereas the Fee doesn’t regulate or handle costs, the Act emphasises truthful pricing as a major objective. It affords a robust framework to guard clients in opposition to extreme, opaque, deceptive, or collusive pricing, whereas additionally encouraging market competitors to make sure truthful, market-driven costs.
With arbitrary airfare spikes now reported throughout a number of routes, the Fee mentioned it’s intensifying its assessment of pricing patterns, the premise for latest will increase, and any conduct which will compromise truthful competitors.
The place violations are confirmed, the FCCPC mentioned it’s going to implement the suitable penalties.
The Fee added that updates on the continued aviation sector investigation will probably be supplied subsequently.