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The House of Representatives has called for the end of unethical business conduct by foreign multinationals operating in the Nigerian business environment.
Recall that a member representing Ikorodu Federal Constituency, Lagos State, Babajimi Benson, in a motion brought on the floor of the House during the plenary session, called on the Federal Competition and Consumer Protection Commission to immediately stop the unfair business practices being perpetrated by some foreign businesses operating in Nigeria.
The lawmaker had argued that a local airline operator, Air Peace, and the Dangote Oil Refinery and Petrochemical Company have been on the receiving end of unethical dealings by their foreign counterparts, warning that if the trend was not checked, it could threaten the survival of the Nigerian economy.
“Before the commencement of the Lagos-London route by Air Peace Airlines for below N1 million, foreign airlines like British Airways and Ethiopian Airlines sold their one-way air tickets for as high as N4 million. As soon as Air Peace Airlines commenced the sale of their tickets at a lower price, other airlines dropped their prices far below that of Air Peace Airlines,” Mr Benson lamented on the floor of the Green Chamber last week.
Benson however, called on the federal government led by President Bola Tinubu to critically look into the issue a d save the country from unhealthy business competition.
He said, “Unethical practices can lead to a significant loss of government revenue, which affects public expenditure on critical areas like infrastructure, healthcare, and education. Unethical practices involve benefiting from unfair competition.”
