Nigeria’s competition law to lift eases of doing business

The passage of competition bill currently before the national assembly has been tipped as one of the measures the country will implement to further enhance ease of doing business and position as major global economic center.

This was reinforced by the private sector coalition on competition bill at a recent briefing in Lagos , where it was stressed that a joint effort of stakeholders including the national assembly is required to ensure that policies and laws that would enhance ease of doing business in the country should be encouraged by all.

Director, Nigerian Employers Consultative Association (NECA) Mr. Timothy Olawole told journalist that the competition bill currently in the process of harmonization at the National Assembly, defines a framework for collaboration between the a commission proposed in the bill and the existing sector regulators whose mandate include consumer protection and competition regulations in their respective sectors.

According to him, the bill has made effort to incorporate all concerns raised over the years by stakeholders, which include harmonization of the competition and the consumer protection aspects in the same bill.

He said that he same bill which was introduced to the 7th National Assembly as executive bill, but failed to make any meaningful impact and in the 8th Assembly, some members who realized the importance of the bill to the nation’s economy sponsored it as private bill at the House of Representatives and the Senate.

The bill, he said was eventually passed by the house on 9th March 2017, while the Senate on 8th June 2017 passed the modified version of the bill,

which was followed by the constitution of a conference committee by both legislative chamber in August 2017, to harmonize differences identified in the bill for onward adoption and transmission to the president for assent. Adding “unfortunately, this process has been stalled”

“We therefore wish to call on the president of the senate and the speaker of the House of Representatives to expedite action on the harmonization process and eventual passage of this bill”