COMPETITION AUTHORITY OF NIGERIA PROPOSED FAS RUSSIA TO CONCLUDE A MEMORANDUM OF COOPERATION

The initiative for its signing was launched by the Executive Head of the Commission for Competition and Consumer Protection of the Federal Republic of Nigeria, Babatunda Irukera, during a bilateral meeting with the Deputy Head of FAS Russia Andrey Tsyganov

Deputy Head of FAS Russia Andrey Tsyganov noted that the competition authorities of both countries have similar functionality, so it is advisable for the parties to increase the exchange of information.

The parties discussed the specifics of antimonopoly regulation in the current conditions, changes in competition legislation, and also outlined priority areas of joint cooperation.

The Deputy Head of the Authority spoke about the provisions of the “fifth antimonopoly package”, which introduced changes to the regulation of competition in digital markets. In addition, he shared the experience of FAS Russia on cases against major digital companies such as Apple, Google, Microsoft, Booking.

Mr. Irukera, in turn, noted the importance of the experience of FAS Russia in the field of antimonopoly regulation of digital markets, as well as the important role of cooperation between authorities at the UN platform within the framework of UNCTAD.

Besides, he informed about legislative and institutional changes in the field of competition in Nigeria and the development of cooperation between competition authorities on the African continent.

In conclusion, Babatunde Irukera took the initiative to strengthen bilateral relations between the competition authorities of Russia and Nigeria by concluding a corresponding Memorandum. The parties agreed to intensify joint work in this direction.

In addition, Andrey Tsyganov invited the Commission on Competition and Consumer Protection of Nigeria to join the activities of the BRICS Working Groups on the Research of Competition Issues in Socially Important Markets, which meet regularly in BRICS+ format.