By Naomi Uzor
The   Nigeria     Employers Consultative Association (NECA) has called for the speedy passage of the Coalition on Competition Bill to facilitate fair and efficient competition in the nation’s economy.

In a parley with pressmen, Director of NECA, Mr. Timothy Olawale, asserted that passage of the bill will allow for the development and promotion of fair, efficient and  competitive markets in the Nigerian economy, facilitate access by all citizens to safe products and secure the protection of rights for all consumers in Nigeria. “When passed, the bill is expected to improve the existing legal and institutional framework for consumer Protection in Nigeria as well as, for the first time, introduce economy wide rules on market competition. The outcome should be an improved business environment that would ensure level playing field for businesses to operate in, especially making room for MSMEs and innovative start-ups to penetrate the market, as well as a robust mechanism for protecting the interest of consumers” he stated.

Olawale noted that there are also provisions in the bill dealing with monopoly and regulation of mergers and acquisitions in such a way as to ensure that competition is not eliminated or inhibited by reason of a merger.

“The Consumer Protection aspect spells out the rights and obligations of the consumers as well as clearly defines the obligation of business owners and liability for failure to meet up with these obligations.”

It leaves little or no room for administrative overreach in enforcing consumer rights.

“The Bill has also gone ahead to define a framework for collaboration between the proposed commission and the existing sector regulators whose mandate include consumer protection and competition regulations in their respective sectors. The implication is that the often-witnessed jurisdictional conflict between the CPC and the sector regulators when it comes to consumer protection would be eliminated,” Olawale, added.

He urged President of the Senate and Speaker of the House of Representatives to expedite action on the harmonization process and eventual passage of the Bill.