FCCPC raids three steel firms in Ogun

The Federal Competition and Consumer Protection Commission (FCCPC) has raided three steel manufacturing companies in Ogun State as part of an investigation into alleged substandard production and anti-competitive practices.

The FCCPC, in a statement on Saturday, said the affected companies are African Foundries Limited (AFL), Monarch Steel Mill Limited and Kam Steel Integrated Company, all located in Ogun State.

The Acting Executive Vice Chairman of FCCPC, Adamu Abdullahi, said that the reason the commission visited these companies was based on intelligence that anti-competitive behaviour might be going on as alleged.

“Essentially, we got intelligence and surveillance reports that these companies in question are allegedly involved in some anti-competitive behaviour.

“That is the reason we decided to come to these three companies so that we can take samples of their products and see what it is that they do by going through the records they gave to us,” Abdullahi said.

Abdullahi said that there are “false, misleading and deceptive as well as unfair market practices,” noting that some manufacturers are producing 10mm iron rods but labelling and marketing them as 12mm.

This unfair market practice, according to him, is among the major causes of building collapse in Nigeria.

He said, “We are talking here about the issue of the safety of Nigerians, which is the core essence of consumer protection.

“We have to ensure the safety of our population. What is happening in the building space so far is worrisome to the government and all well-meaning citizens of this country. So we have to look at their process to find out if they are cutting corners.

“ If they are doing so, we will apply the full wrath of the law. That is why we are here.”

During the raid, Abdullahi noted that the commission collected samples of products and records from the companies, which will be subjected to forensic analysis.

He added that FCCPC is still in the information-gathering stage and has not found any of the companies liable yet.