Sahad Stores, a popular Abuja shopping mall, has been reopened hours after it was sealed off by the Federal Competition and Consumer Protection Commission (FCCPC).

The store’s Area 11, Garki branch was sealed off on Friday following an alleged disparity between prices on the shelf and what customers had to pay.

According to a statement signed by the agency’s acting chief executive officer, Adamu Abdullahi, the store was reopened at 7p.m. on Friday “following a mutual understanding and commitment from Sahad Stores to implement transparent pricing practices.”

Mr Abdullahi said his agency had conducted an on-the-spot check on Sahad Stores in Abuja on Friday which led to the temporary closure of the store due to continued violations involving misleading pricing and lack of transparency.

He noted that the FCCPC had on 8 January investigated Sahad Stores following reports of misleading pricing practices and found that Sahad Stores displayed lower prices on shelves and charged higher prices at checkout, contravening Section 115 of the Federal Competition and Consumer Protection Act (FCCPA) 2018.

“The investigation included all Sahad Stores branches in Abuja to ensure a comprehensive understanding of the issue and implement corrective measures across the entire chain,” he said.

The FCCPC issued a summons to specific Sahad Stores staff members, asking them to appear on 12 February to discuss corrective measures but they failed to appear without justification, raising concerns about potential violations under Section 33(3) of the FCCPA.

On visiting the stores on Friday, they confirmed through random checks that the deceptive practice did not only continue, but cashiers also charged prices at their discretion, leaving unsuspecting customers vulnerable to unfair pricing.

Mr Abdullahi states that businesses are expected to display transparent pricing information to empower consumers to make informed purchasing decisions, especially during challenging economic times.

“The FCCPC remains committed to combating all forms of exploitative or misleading practices that undermine consumer rights,” he added.

Mr Abdullahi further encouraged all businesses to adhere to fair and transparent pricing practices to ensure consumer protection and a healthy market environment.

Meanwhile, the Labour Party’s presidential candidate in the general election of 2023, Peter Obi has advised President Bola Tinubu’s administration to focus more on reviving the economy of the nation rather than harshly prosecuting local business owners.

Obi thanked the government in a post on his official X account on Saturday for reopening the Abuja store, which had been closed due to allegations that it had set exorbitant prices for its goods.

He argued that the government’s initial decision to shut the store was poorly thought out.

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The post by Obi read, “I have just read the reports of the reopening of Sahad Stores, Abuja, which was earlier closed by the Federal Consumer Competition and Protection Commission (FCCPC) on Friday. I thank the Commission for heeding the voice of reason and reopening the business without further delay.

“The closure was not a well-thought-out option in the first place. Going forward, I would like to again, advise the government to avoid any further show of rascally behaviour that brings more pain to the people.

“The government should rather focus on saving the nation from further collapse and on building the economy, rather than engaging in rascal actions that portray the administration as heartless and thoughtless to the litany of challenges facing the Nigerian people.

“We are at a time in our country where local businesses are closing down and foreign investors are losing faith in our economy due to not perceiving further growth in the economy and stability in the system.

“More people are being thrown into unemployment and poverty, with unemployment rate soaring higher than ever before. Should we then be taking actions that will undermine the existence of the few remaining businesses we have and throw more people into unemployment?

“Nigerians are looking up to the government, in keeping with their many promises of building a better economy, to provide pragmatic solutions to the burning issues of galloping inflation, rising hunger, widespread poverty, and insecurity.

“The many outcries by citizens in different states over the rising cost of living, should nudge the government into visible actions that will ameliorate the pains of the people. Closing down existing businesses over alleged offences, I believe, is not the solution to our economic challenges.

“In a productive economy with an abundant supply of goods and services, issues like hoarding of products and disparity in prices, as was being discussed, would have no place. This is because, through healthy competition, market forces would adjust prices accordingly. Instead of focusing on fixing prices, the government can focus on building a productive economy that will ensure adequate production of goods and services.

“I urge the government to take urgent actions to stem this rising tide of hunger in the nation and ensure sufficient production of goods and services. Moving the nation from consumption to production, which has remained my vision for the New Nigeria, is needed now more than ever.”