…The investigation will focus on pricing practices of foreign airlines operating in Nigeria, including British Airways, Ethiopian Airlines, Virgin Atlantic , as well as the International Oil Companies (IOCs)
WED JULY 03 2024-theGBJournal| The House of Representatives has signaled its intention to investigate what it views as ”exploitative and predatory pricing practices” against Nigerian business by their foreign counterparts operating in Nigeria.
A Bill to the effect was introduced by Representative Babajimi Benson (representing Ikorodu Federal Constituency, Lagos State), following the commencement of the 2nd Legislative Session of the 10th House of Representatives on Tuesday.
The investigation will focus on pricing practices of foreign airlines operating in Nigeria, including British Airways, Ethiopian Airlines, Virgin Atlantic , as well as the International Oil Companies (IOCs).
Representative Babajimi Benson pushed resolutions urging the Federal Competition and Consumer Protection Commission (FCCPC) to immediately halt ”the unfair business practices perpetrated by certain foreign businesses operating in Nigeria.
The House equally resolved to mandate the Committee on Aviation, Commerce, and Petroleum (Upstream and Down Stream) to investigate the circumstances surrounding the ”predatory pricing practices and unethical business competitive behaviours by foreign airlines and IOCs and report within four weeks for further legislative action.”
It also mandated the Committee on Legislative Compliance to ensure compliance.
The House is vexed by the pricing war that developed after Nigeria’s Air Peace airline launched its Lagos-London route as well as the frustrations heaped on Dangote Dangote Refinery by the IOCs as it sought crude oil purchase for its refinery.
The House also raised concern that Nigerian Businesses have been subjected to other unfair treatment both home and abroad in an effort to disrupt their smooth operation.
”It appears that the objective of these foreign multinationals is to ensure Nigeria remains at their mercy by prioritizing only their service or exporting crude and importing refined petroleum products, thereby making Nigeria and Sub-Saharan Africa perpetually facing unemployment and poverty, while they create wealth for themselves at our expense,” the House said.
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