(a)Explain five reasons why consumers need protection. (b) State five government legislation aimed at consumer protection.

(a) Five reasons why consumers need protection

1. Sale of adulterated or unsafe goods: Some traders sell impure, contaminated or expired products that endanger the health and lives of consumers.
2. Ignorance of consumers: Many consumers lack the technical knowledge to judge the quality, weight or content of goods and can easily be cheated.
3. Short weights and measures: Dishonest sellers use faulty scales and measures to give consumers less than they pay for.
4. Misleading advertising and labelling: False claims about the qualities of a product mislead consumers into buying goods that do not perform as promised.
5. Exploitation through high prices: Monopolists and hoarders create artificial scarcity and charge exorbitant prices, exploiting helpless consumers.

(b) Five government legislation aimed at consumer protection

1. Sale of Goods Act: Requires that goods sold must be of merchantable quality and fit for their intended purpose.
2. Weights and Measures Act: Ensures the use of accurate and standard weighing and measuring instruments.
3. Food and Drugs Act: Prohibits the sale of adulterated, contaminated or harmful food and drugs.
4. Standards Organisation of Nigeria (SON) Act: Sets and enforces quality standards for manufactured goods.
5. NAFDAC Act: Establishes the agency that regulates and controls food, drugs, cosmetics and bottled water to protect public health.