Tag pass competition and consumer protection bill now business group tells national assembly

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Business Group Urges National Assembly to Tag Pass Competition and Consumer Protection Bill

A prominent business group has called on the National Assembly to expedite the passage of the Competition and Consumer Protection Bill, citing the need for a robust regulatory framework to promote fair competition and protect consumers.

The group, which represents a cross-section of industries, argued that the bill is crucial for creating a level playing field and preventing anti-competitive practices that can stifle innovation and growth.

"We urge the National Assembly to tag the Competition and Consumer Protection Bill for passage without further delay," said the group's spokesperson. "This legislation is essential for promoting fair competition, protecting consumers, and fostering a business environment that is conducive to growth and development."

The bill, which has been pending in the National Assembly for several years, aims to establish a Competition and Consumer Protection Commission to regulate markets and protect consumers from unfair business practices.

The business group noted that the bill has the potential to benefit both businesses and consumers by promoting competition, innovation, and consumer welfare.

"We believe that a robust competition and consumer protection regime will not only benefit consumers but also create a more competitive business environment that will attract investment and drive economic growth," said the group's spokesperson.

The group also expressed concern that the delay in passing the bill is having a negative impact on the economy, as businesses are forced to operate in a regulatory vacuum.

"We urge the National Assembly to put aside partisan differences and work together to pass this critical legislation," said the group's spokesperson. "The benefits of a competitive and consumer-friendly economy will be felt by all Nigerians, and we cannot afford to delay any further."

The National Assembly has been urged to take immediate action to pass the bill, which is seen as a key step towards promoting a more competitive and consumer-friendly economy.