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The United Nations Conference on Trade and Development (UNCTAD) has commended Nigeria for taking proactive and effective actions against price gouging and other anti-consumer activities during the current global coronavirus pandemic.
The global body gave the thumbs-up during its recent webinar on “Competition and Consumer Protection in Times of COVID-19” in which top representatives from competition and consumer protection agencies from across the world shared ideas and experiences on managing e-commerce whose usage has witnessed a spike in the wake of the pandemic. The context for the event is the increasing dependence on digital platforms for online shopping, virtual meeting and learning purposes ifollowing the pandemic. The growing market power of digital platforms raises concerns for consumers, as well as consumer and competition law enforcers who are trying to adapt their enforcement tools and analysis to the new reality.
Nigeria, represented by Babatunde Irukera, Director General, Federal Competition and Consumer Protection Commission (FCCPC) was recognised for its leadership role as demonstrated by FCCPC’s early successive warnings against unfair practices and anti-market behaviour and also for its robust determination to enforce the law against any breaches.
