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Author(s)
A certain means of improving the Nigerian socio-economic environment is through the introduction of healthy laissez faire,
free market economy, and competitive economic environment that is
strongly rooted equal and easy access to raw materials, workforce,
imported raw materials and machineries for production and distribution
that would be available to all businesses and manufacturers. There must
be rules that eschew nepotism, monopoly, and/or oligopoly. History has
always shown that research, development, and innovation thrive in an
economic environment founded on freedom, equality and unhindered
capacity. This work, therefore, examines and appraises the rules and
regulations that have been instituted to encourage healthy competition
and forestall antitrust practices among Nigerian businesses. Further, it
proffers suggestions for improvement of the Nigerian antitrust rules,
in view of multiplicity of legislation covering similar/ identical
subject matters. This work reviews the efficacy of the rules promoting
competition, within the context of the Nigerian telecommunication
sector, and argues for harmonization of all legislation prohibiting
anti-trust acts, in order to set definite and coherent standards for all
stakeholders. The work further examines the need for necessary reforms
that would discourage anti-trust practices and help to achieve the
Nigerian government’s goal of attracting foreign investment. In
addition, the author looks at the expeditious passage of the Federal
Competition Commission Bill 2005 (FCCB) and the setting up of the
Federal Competition Commission (FCC), whose aim is to regulate, prevent
and punish anti-competitive practices, regulate Mergers, Takeovers and
Acquisitions, and protect regulated industries, in every sector and
location in Nigeria. In the end, the accompanying suggestions for reform
will invariably impact Nigeria’s economic, social, and political
competitiveness at the global stage.
KEYWORDS
Cite this paper
Obayemi, O. (2014). Competition in the Nigerian Telecommunications Industry. Beijing Law Review, 5, 283-297. doi: 10.4236/blr.2014.54027.
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