Chairman, House Committee on Defence, Rep Babajimi Benson has moved a motion aimed at strengthening legislative framework to protect Nigerian businesses from from exploitative and unfair competition practices.
Benson, while presenting the motion on the floor of the House of Representatives today said that, ‘Nigerian businesses operating and competing in the international market have been faced with diverse exploitative and unfair competition practices by their foreign counterparts in flagrant disregard for international business protocols and ethical standards’.
According to him, ‘this has threatened their survival and ability to effectively deliver services to Nigerians and their global clients’.
He cited the example of Air Peace that has been victim of unfair competition by their foreign counterparts.
‘For instance, there is a seeming gang up through predatory pricing, against Air Peace Airlines by other foreign airlines since it began the Lagos – London route at a far lower rate’.
Speaking further, he stated that, ‘The International Oil Companies (IOCs) have continued to deny Dangote Refinery adequate crude for its operations, only agreeing to sell at higher premium price, thereby forcing them to import from places as far as the USA’.
‘This deliberate attempt to frustrate Nigerian businesses spurred me to move this motion as a legislative action against these foreign companies’, he submitted.
The motion which was widely supported by the House resolved to:
a. Mandate the Federal Competition and Consumer Protection Commission, FCCPC to immediately halt these unfair business practices perpetrated by certain foreign businesses operating in Nigeria;
b. Mandate the Committees on Aviation as well as Petroleum (Upstream and Downstream) to investigate the circumstances surrounding the predatory pricing practices and unethical business competitive behaviours by these foreign airlines and IOCs and report to the House within four (4) weeks;
c. Also mandate the Committee on Legislative Compliance to ensure full implementation of these resolutions.
Benson expressed confidence that the notion will protect our indigenous businesses, and allow it grow to contribute to the economic growth and development of the country.
