Ikeja - Governor Babatunde Fashola of Lagos State has signed into law a bill establishing the state's Consumer Protection Agency.
The agency has the mandate to promote the rights of consumers and protect them against exploitative business practises.
It will also handle complaints of breach of consumer rights and take steps, including exploring legal options, to get compensation for losses.
Assenting to the bill, Fashola said the legal intervention was to ensure that consumers got real value for their purchases and services rendered.
He noted that it was the norm in advanced countries to treat consumers as kings and in a state aspiring to be one of the world's model mega cities, the government could not afford to do otherwise.
“In every good economy, the consumer is king, so the purpose of the law is to protect consumers and ensure they get value for their money.
"Goods sold to them must fit the purpose for which they are put on sale.
“Consumers must be able to seek remedy against manufacturers who put substandard goods not fit for their purposes on sale.
“I think what this law should do for us is that consumers should not be helpless against manufacturers or vendors or service providers who have breached their rights.
“This law will assist in raising the quality level of products and services as manufacturers now know there is a minimum quality standard expected in the market," he said.
Earlier, the Attorney General and Commissioner of Justice, Ade Ipaye, said the agency would enforce rights of consumers to fair pricing of products and protect them against consumption of unfit products.
He said that Lagos was a thriving commercial city and it was important to place appropriate machinery in place to protect the interests of consumers.
Ipaye restated the commitment of the government to ensure the protection of the rights of all residents.
He said that the signing of the bill was a demonstration of that commitment.
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