CONSUMER PROTECTION

This is a way in which customers’ maximum satisfaction is being ensured without exploitation by the producers.

NEEDS/REASONS FOR PROTECTION

1. To prevent the offer of false credit facilities.
2. To protect the consumers from the dangers of dishonest sellers.
3. To discourage false advertisement and imitation of goods which most at times mislead customers. 
4. To ensure that the maximum satisfaction is offered to the consumers. 
5. To ensure that essential goods and services are regularly supplied. 
6. To ensure that consumers get the value for their money.
7. To ensure that inferior goods are not sold to consumers.

WAYS OF PROTECTING CONSUMERS

1. Government legislation: The sale of Goods Act. The Hire Purchase Act. The Food and Drugs Act and the Weights and Measure Acts.
2. Under this agencies: we have the Nigerian Standard Organization, the Food and Drug Department of the Federal Ministry of Health. The Consumer Education and Protection Council of Nigeria, and finally The Price and Income Board.
3. Independent Organization: Under this, we have Private bodies like the Nigerian Medical Association, the Manufacturers. Association, the National Association of Business Education and the Mass Media.