Section 1 Federal Competition and Consumer Protection Act 2018

Section 1 of the Federal Competition and Consumer Protection Act 2018 is about Objectives. It is under Part I (Objectives and Scope of Application) of the Act.

1. The objectives of this Act are to –
(a) promote and maintain competitive markets in the Nigerian economy;
(b) promote economic efficiency;

(c) protect and promote the interests and welfare of consumers by providing consumers with wider variety of quality products at competitive prices;
(d) prohibit restrictive or unfair business practices which prevent, restrict or distort competition or constitute an abuse of a dominant position of market power in Nigeria; and
(e) contribute to the sustainable development of the Nigerian economy.