Dangote And Peace Airline May Hit Rock After House Of Representative Investigations.

 

 

 According to Vanguard  News,Two big Business men in Nigeria may hit rock if found wanting following the investigation of the House of Representative.

Dangote and Peace Airline owners were invited on the floor of the House Of Representative yesterday following some unguided way of doing business in the Country by this two business moguls .

The House of Representatives yesterday asked the Federal Competition and Consumer Protection Commission, FCCPC, to immediately halt the unfair business practices perpetrated against Air Peace, Dangote and other businesses by certain foreign businesses operating in Nigeria.

 

 

It also mandated the committees on aviation, commerce, and petroleum (upstream and downstream) to investigate the circumstances surrounding the predatory pricing practices and unethical business competitive behaviours by foreign airlines and IOCs.

 

Moving the motion, Benson noted that Nigerian businesses operate in the international sphere and compete with similar business ventures operating in Nigeria; adding that international business ethics and standards, such as the United Nations Global Compact, “OECD Guidelines for Multinational Enterprises, and ISO 26000 for social responsibility, among others, required 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.

 

According to him, a fair and healthy competitive market promotes economic efficiency. It protects the interest and welfare of consumers by providing wide options of high-quality products and services at competitive prices.

Benson explained further that some Nigerian businesses had suffered harsh and unfair competition and business relations with their foreign business counterparts.