The Federal Competition and Consumer Protection Commission (FCCPC) has received a total of 294 merger applications since its establishment. In 2024, the FCCPC approved 22 applications, while eight applications are still under review.
During a briefing in Abuja, the former acting executive vice
chairman of the FCCPC, Dr. Adamu Abdullahi, provided an update on his
seven-month tenure. He underscored the significance of the Commission’s
stringent review process in preventing large corporations from acquiring
smaller competitors without justification. This approach safeguards consumer
options, discourages anti-competitive practices, protects consumers, and
promotes a dynamic and competitive marketplace.
Dr. Abdullahi stated that the FCCPC aims to maintain a level
playing field and promote fair competition by scrutinizing mergers and
acquisitions.
He also emphasized the FCCPC’s efforts to bolster consumer
protection frameworks through collaborations with both domestic and
international entities. He revealed strategic partnerships with the ECOWAS
Regional Competition Authority (ERCA), the Central Bank of Nigeria (CBN), and
the Nigeria Data Protection Commission (NDPC).
In addition, he disclosed the signing of a Memorandum of
Understanding (MoU) between the FCCPC and the Russian Competition Authority
(FAS) to bolster international collaboration.
Dr. Abdullahi emphasized the significance of these
partnerships in fostering a transparent, fair, and competitive market
environment.