FCCPC Approves 22 Of 294 Merger Applications, 8 Pending

The Federal Competition and Consumer Protection Commission (FCCPC) has reveived a total of 294 merger applications since its inception, approving 22 in 2024, while eight applications remain under review.

The former acting executive vice chairman of the FCCPC, Dr. Adamu Abdullahi, shared this update during a briefing in Abuja, reflecting on his seven-month tenure. He emphasised that the Commission’s rigorous review process aims to prevent large companies from unjustifiably acquiring smaller competitors, thereby preserving consumer choices,

preventing

anti-competitive practices, protecting consumers, and fostering a vibrant and competitive marketplace.

Dr. Abdullahi said by scrutinising mergers and acquisitions, the FCCPC aims to maintain a level playing field and promote fair competition.

He also highlighted the FCCPC’s efforts to strengthen consumer protection frameworks through collaborations with both domestic and international bodies. He disclosed strategic partnerships with the ECOWAS Regional Competition Authority (ERCA), the Central Bank of Nigeria (CBN), and the Nigeria Data Protection Commission (NDPC).

Additionally, he revealed that the FCCPC has signed a Memorandum of Understanding (MoU) with the Russian Competition Authority (FAS) to enhance international cooperation.

Dr Abdullahi said these partnerships are vital for creating a fair and competitive market environment that is transparent.