In an interview with the Executive Vice-Chairman/CEO of the Federal Competition and Consumer Protection Commission (FCCPC), Babatunde Irukera, several key points were discussed, including the evolution of the FCCPC from the former CPC, its broad mandate covering various sectors, challenges faced, success in handling consumer complaints, and the agency’s future projections. Irukera highlighted the FCCPC’s autonomy, self-funding model, and efforts to prioritize and allocate resources based on sector challenges. The interview also touched on the challenges of overlaps with other regulatory agencies, success factors, and the need for continuous improvement in legislation to address evolving market dynamics.
- Evolution of FCCPC:
- FCCPC has evolved from the former CPC, with a more elaborate mandate and increased autonomy.
- The agency has developed internal capacity, credibility, and respect over the years.
- Mandate Coverage:
- FCCPC’s mandate covers various sectors, and resource allocation is based on prioritization and national challenges.
- The agency engages in investigations and interventions in areas such as education, healthcare, and food safety.
- Patient’s Bill of Rights:
- FCCPC advocates for a patient’s bill of rights, aiming to strengthen the responsiveness and sensitivity of medical facilities to patients.
- Efforts are made to address lapses in the judicial system, acknowledging the time-consuming nature of cases.
- Legislation and Operational Maturity:
- While acknowledging the quality of existing legislation, Irukera emphasized the need for continuous improvement and addressing operational gaps.
- Changes in society, such as digital markets, may require legislative updates to cope with evolving dynamics.
- Challenges and Success Factors:
- Challenges include capacity issues, both in terms of knowledge and the number of personnel.
- Success is measured in part by increased consumer complaints, indicating growing confidence in the enforcement mechanism.
- FCCPC’s revenue comes primarily from penalizing infractions rather than levying fees on consumers or licensing companies.
- Future Projections:
- FCCPC envisions becoming critical for the Nigerian economy.
- The agency aligns with the government’s roadmap for economic development, emphasizing shared prosperity and preventing wealth concentration.
The interview provides insights into the transformation of the FCCPC, its advocacy efforts, challenges faced, and its role in Nigeria’s economic landscape. The focus on self-funding, capacity building, and aligning with the government’s economic roadmap reflects the agency’s commitment to promoting fair competition and protecting consumer rights. Continuous efforts to improve legislation and address evolving challenges position the FCCPC as a critical player in Nigeria’s regulatory framework.