CHALLENGES IN THE IMPLEMENTATION OF THE EXTRATERRITORIAL PROVISIONS OF THE FEDERAL COMPETITION AND CONSUMER PROTECTION ACT 2018

Abstract

Competition law in Nigeria is governed by the Federal Competition and Consumer Protection Act 2018. The FCCPA guides all commercial conducts by firms within Nigeria which its effect is felt in Nigeria. This implies that all commercial activities which are concluded in Nigeria, whether the business is registered under the CAMA or otherwise, fall under the category of undertakings contemplated under the FCCPA as long as the effect of the activities of the undertaking is felt within Nigeria. However, the extraterritorial provision of the FCCPA raises some questions and hence faces some challenges in its implementation. Some of the attendant challenges include; the absence of a cooperation agreement, non signatory and ratification of international Treaties/Conventions, lack of technology, corruption and the overwhelming influence of multinational corporations. It was recommended that the FCCPC under the power to make regulations, come up with the relevant regulations for an effective implementation of the extraterritorial provision.