Regulatory agencies in Nigeria and Namibia move to curb price fixing

Regulatory authorities in Nigeria and Namibia have entered into new agreements to combat anti-competitive practices within their respective markets.

In Nigeria, the Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) signed a Memorandum of Understanding in Abuja. The partnership aims to curb price fixing, cartel behavior, product withholding, and under-dispensing in the deregulated petroleum sector. The FCCPC intends to use enhanced intelligence sharing to protect consumers and ensure market transparency, noting that petroleum costs significantly impact transportation, food prices, and manufacturing.

In Namibia, the Namibian Competition Commission (NaCC) and the Central Procurement Board of Namibia (CPBN) have also formalized a cooperation mechanism. This agreement targets bid rigging, market allocation, and the manipulation of technical specifications in public tenders. The initiative follows the National Competition Policy 2020–2025, seeking to ensure that public procurement delivers value for taxpayers by preventing dominant players from carving up markets.