Federal Competition and Consumer Protection Act, 2018: A New Regulatory Landscape for Mergers in Nigeria

On 5th February 2019, the Federal Competition and Consumer Protection Act (‘the Act’) received Presidential Assent and was passed into law. Prior to the enactment of the Act, the legal framework for competition in Nigeria was inadequate in comparison to the size of the economy. Apart from introducing a competition regime applicable to all sectors of the economy, the Act repeals the Consumer Protection Council Act and sections 118-128 of the Investment and Securities Act (ISA). Further, the Act establishes the Federal Competition and Consumer Protection Commission (the Commission). The Act also establishes the Competition and Consumer Protection Tribunal (the Tribunal) which is vested with judicial powers to review decisions of the Commission and decisions of any sector specific regulatory authority and make rulings and orders as may be necessary.

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