House of Representatives Urges FCCPC to Halt Unfair Business Practices
The House of Representatives has mandated the Federal Competition and Consumer Protection Commission (FCCPC) to immediately stop the exploitative practices perpetrated by foreign businesses against Air Peace, Dangote, and other Nigerian companies.
The House also directed the Committees on Aviation, Commerce, and Petroleum (Upstream and Downstream) to investigate the predatory pricing practices and unethical business competitive behaviors by foreign airlines and International Oil Companies (IOCs).
The resolutions followed a motion moved by Hon. Babajimi Benson during plenary in Abuja, highlighting the unfair competition and business relations faced by Nigerian businesses with their foreign counterparts.
Benson noted that foreign airlines and IOCs have engaged in predatory pricing practices, denying Nigerian companies fair market access and threatening their survival. He expressed concerns that these practices have led to the closure of thriving businesses, providing cheaper alternatives to Nigerian customers.
The House urged the FCCPC to enforce the Federal Competition and Consumer Protection Act, 2018, to curb restrictive and unfair business practices. The Committee on Legislative Compliance was also mandated to ensure compliance and report back within four weeks for further legislative action.
