The House of Representatives has directed the Federal Competition and Consumer Protection Commission (FCCPC) to immediately halt the unfair business practices perpetrated by certain foreign businesses operating in Nigeria against Nigerian businesses.

In addition, the House directed its relevant committees to investigate the circumstances surrounding the predatory pricing practices and unethical business competitive behaviors by foreign airlines and International Oil Companies operating in the country.

This followed a motion brought to the floor of the House on the need to investigate exploitative and predatory pricing practices against Nigerian businesses by their foreign counterparts operating in Nigeria by Honorable BABAJIMI BENSON.

According to him, International Business ethics and standards require businesses to operate in a fair, healthy, and efficient manner while ensuring competitive trade practices in the operation of their businesses at home and abroad.

The lawmaker stressed that a fair and healthy competitive market promotes economic efficiency and protects the interest and welfare of consumers by providing wide options of high-quality products and services at competitive prices.

Hon. BENSON maintained that some Nigerian businesses have suffered harsh and unfair competition and business relations with their foreign business counterparts.