By Milcah Tanimu
The House of Representatives has called on the Federal Competition and Consumer Protection Commission (FCCPC) to immediately address unfair business practices targeting Air Peace, Dangote, and other Nigerian businesses by certain foreign companies operating in the country.
In a session held in Abuja, the House mandated the committees on aviation, commerce, and petroleum (upstream and downstream) to investigate predatory pricing and unethical competitive behaviors by foreign airlines and international oil companies (IOCs).
The resolution followed a motion introduced by Babajimi Benson, who emphasized that Nigerian businesses compete internationally and face similar ventures domestically. He highlighted the importance of adhering to international business ethics and standards, such as the United Nations Global Compact, OECD Guidelines for Multinational Enterprises, and ISO 26000 for social responsibility, which advocate for fair, healthy, and efficient business operations.
Benson noted that the Federal Competition and Consumer Protection Act of 2018 was enacted to curb restrictive and unfair business practices that distort competition or abuse market dominance in Nigeria. He argued that a fair and competitive market enhances economic efficiency and protects consumer interests by offering a variety of high-quality products and services at competitive prices.
He further explained that some Nigerian businesses have faced harsh and unfair competition from their foreign counterparts. For instance, before Air Peace commenced its Lagos-London route with tickets priced below N1 million, foreign airlines like British Airways, Ethiopian Airlines, and Virgin Atlantic charged as much as N4 million for a one-way ticket. However, when Air Peace introduced its lower-priced tickets, these airlines significantly reduced their prices, seemingly to undermine Air Peace’s operations on the route.
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