The Federal Competition and Consumer Protection Commission (FCCPC) has directed MultiChoice Nigeria to maintain its current subscription prices until the ongoing investigation into its proposed price hike is concluded.
This is as the commission also initiated an inquiry into the rising cost and price variations of drugs in Nigeria, citing growing concerns over affordability and accessibility.
The directive to MultiChoice Nigeria follows the company’s request for an extension regarding its scheduled appearance before the Commission.
While the FCCPC has granted the request, the company is now required to attend the rescheduled investigative hearing on March 6, 2025, along with all relevant officers and a comprehensive response.
Pursuant to this, MultiChoice is expressly instructed to maintain the existing price structure as of February 27, 2025, pending the Commission’s review and final determination on the matter.
Maintaining the status quo on pricing is essential to prevent any potential consumer harm during this period.
Further updates will be provided as the investigation progresses.
Meanwhile, speaking at the launch of an inquiry, the executive vice chairman of FCCPC, Tunji Bello, emphasised that the Commission is committed to promoting fair business practices and safeguarding consumer interests, as mandated by the Federal Competition and Consumer Protection Act of 2018.
“It has become obvious that the cost of medications has risen significantly over the past year, making it increasingly difficult for Nigerian consumers to afford the treatment they need,” Bello stated. He noted that the high cost of drugs not only affects patient health outcomes but also places an additional strain on the healthcare system.
He further disclosed that FCCPC has received multiple consumer complaints regarding price disparities in the pharmaceutical sector. According to Bello, the inquiry aims to identify the factors driving these price inconsistencies and ensure that Nigerians have access to quality and affordable healthcare services.
He reassured the public that the Commission remains committed to addressing these concerns and will take necessary steps to foster a fair and competitive pharmaceutical market in Nigeria.
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