Kunle Adelabu
Concerned by the challenges that local businesses are facing, especially regarding exploitation and unfair competition from their foreign counterparts, the representative of the Ikorodu Federal Constituency , Rep. Babajimi Adegoke Benson, has moved a motion to safeguard the local businesses.
Benson, who is the Chairman, House Committee on Defense, revealed on his Facebook and other social media handles late Thursday, that the motion, “Strengthening Legislative Framework to Protect Nigerian Businesses Against Exploitation and Predatory Pricing Practices”, is to address the gang – up against Nigerian businesses.
The three-term lawmaker, who said that the acts by the foreign businesses threaten survival of the Nigerian businesses, cited instances of such which he said must be checkmated.
“Nigerian businesses operating and competing in the international market have been faced with diverse exploitative and unfair competition practices by their foreign counterparts in flagrant disregard for international business protocols and ethical standards”, Rep. Benson said.
“This has threatened their survival and ability to effectively deliver services to Nigerians and their global clients.
“For instance, there is a seeming gang up through predatory pricing, against Airpeace Airlines by other foreign airlines since it began the Lagos – London route at a far lower rate.
“Also, the International Oil Companies (IOCs) have continued to deny Dangote Refinery adequate crude for its operations, only agreeing to sell at higher premium price, thereby, forcing them to import from places as far as the USA.
“This deliberate attempt to frustrate Nigerian businesses spurred me to move this motion as a legislative action against these foreign companies”, he said.
The motion, which was widely supported by members of the House, resolved to:
“Mandate the Federal Competition and Consumer Protection Commission (FCCPC) to immediately halt these unfair business practices perpetrated by certain foreign businesses operating in Nigeria;
“Mandate the Committees on Aviation as well as Petroleum (Upstream and Downstream) to investigate the circumstances surrounding the predatory pricing practices and unethical business competitive behaviours by these foreign airlines and IOCs and report to the House within four (4) weeks;
“Also, mandate the Committee on Legislative Compliance to ensure full implementation of these resolutions”.
According to Benson, the motion will allow Nigerian businesses to grow and contribute to the national development.
“It is my belief that this will protect our indigenous businesses, and allow it grow and contribute to the economic growth and development of the country”, he said.
