Developing Effective Public Policy on Consumer Welfare in Nigeria

Abstract

Consumers in the society, as well as the sustenance of business depends on the consumer. The quest for the formulation and enactment of public policies and laws respectively concerning consumer welfare throughout the world are necessitated by dissatisfactions of consumers in their purchase or consumption experiences which often result from the business sector who indulges in many unscrupulous acts at the expense of consumers. This paper examines the enactment of some laws and/or formulation of public policies, which are intended to protect the welfare of consumers, and attempts an evaluation of their levels of effectiveness especially in Nigeria. Data were collected from secondary sources. It was revealed that most consumer welfare laws and policies in Nigeria are relatively ineffective except those formulated sequel to militant actions of certain consumers. At the end, the paper recommends some measures government, business and individual consumers should adopt to ensure the effectiveness of laws and policies on consumer's welfare in Nigeria.