The Centre for Social Change and Citizenship Education (CENSOCHANGE) has urged President Muhammad Buhari to immediately accent to the Federal Competition and Consumer Protection Bill, saying it will bolster human rights, the anti-corruption fight and the economy.
CENSOCHANGE in a statement issued in Abuja by its CampaignsDirector, Olatunji Kamar, observed that till now , anti-competition regulations have been very weak in the country , a situation which led to monopolies in different sectors of the economy and the flagrant abuse of consumers rights by products manufacturers and service providers.
“We will like to commend the National Assembly for the great work they did that led to the passage of the very important bill and are using this medium to plead with President Buhari to accent to that bill without further delay
“When it becomes law, this legislation will end misleading, unfair and unconscionable marketing and trading practices. It will promote consumer interests,” he said.
The Federal Competition and Consumer Protection Bill 2017 was passed by the National Assembly in December 2017 and has since been sent to the President for accent. Among other provisions, it establishes the Federal Competition and Consumer Protection Commission and the Competition and Consumer Protection Tribunal.
Among others, the Bill seeks to eliminate monopolies at all levels of the Nigerian market, prohibits abuse of dominant market position and penalize restrictive trade and business practices.
It provides for the removal or elimination of hazardous goods and services from the market and their replacement with safer and more appropriate alternatives.
It also intends to reduce the risks and injuries which may occur from consumption of certain consumer items and services.
Kamar added: “Nigeria has taken too long to get to this point and any further delay will be detrimental to the economy, healthy living of Nigerians ,the economy and the total environment. We urged the President to do the needful and immediately accent to this draft law.”