Highlights of Nigeria’s Federal Competition and Consumer Protection Act 2018: An Overview

Abstract

The Federal Competition and Consumer Protection Act 2018 (FCCPA) was eventually signed into law in April 2019 and same is to be known as the Federal Competition and Consumer Protection Act. The Act repealed the Consumer Protection Act, Cap. 25, laws of the Federation of Nigeria, 2014 and established the Federal Competition and Consumer Protection Commission (FCCPC) and the Competition and Consumer Protection Tribunal for the development and promotion of fair, efficient and competitive markets in the Nigerian economy. This prized enactment came after a painstaking drafting process, which was saddled with many drafts, seminars, debates, and ‘behind-the-scenes maneuvers’. It remains to be seen whether it is now respite to the consumers or yet another regulatory hype. (There are yet to be any real judicial proceedings in this matter save for some administrative measures that have been taken in recent times.) Consumer Protection, competition law, Nigeria, commercial transactions, Federal Competition and Consumer Protection Act.