ADVERTISEMENT

Competition regulation key to economic development, expansion and citizens” protection – Irukera

The Director General (DG) Consumer Protection Council (CPC), Babatunde Irukera has identified competitive competition regulation as a key factor that can promote economic development in Nigeria.

ADVERTISEMENT

Irukera noted this while at Inter-Governmental Experts meeting of the United Nations Conference Trade and Development (UNCTAD) in Geneva, Switzerland. His expressed view is that competition is a vital and necessary tool for economic growth in Nigeria

A statement from one of his aides Williams Charles Oluwatoyin states that according to the DG, competition creates entrepreneurs who in turn create jobs and stimulate an economy that not just shows good growth numbers, good but truly translates many from poverty and results in shared prosperity.

ADVERTISEMENT

In his words, Irukera explained further that “competition promotes innovation, small businesses, value for money, fair prices, standards and choice.”

In a large vibrant and loyal market such as Nigeria, the absence of broad competition regulation is tragic. It discourages innovation and start-ups, but encourages operator conspiracy, collusion and barriers to market entry, he explains.

Irukera  added that it prevents standards, choice and fairness, but promotes exploitation, poor standards and lack of options for consumers.

“It is the otherwise "legitimate" vehicle for both financial and social extortion. We must free the market for the people, especially the poor whose lives will be more affordable and satisfying when they have choices and pay fair prices.”

He also noted that competition provides the  prerogative of choice, fairness of price and possibilities of success in business that are most vital components of the true and real empowerment that our nation needs, far more than stomach infrastructure or Okada/ wheelbarrow empowerment.

The UNCTAD was established in 1962 as a regulatory body for international trade and development.


Share this article

HOW I BECAME FREE OF HIGH BLOOD PRESSURE

DIABETES TOTAL CURE

EKWENSI helps to revive and rejuvenate the Pancreas which is the root causes of Diabetes, which results to frequent urination and loss of weight, tingling of the feet’s and many.

This drug cures diabetes completely within 2months of frequent usage. Call Sam on 08124139999 or 08077776226



BREAKTHROUGH NATURAL CURE FOR PROSTRATE ISSUES IN JUST 15 DAYS!!!

You Can Prevent PROSTATE CANCER!!!

Your PROSTATE ENLARGEMENT Is REVERSIBLE

Don't Let It Threaten You!

To SHRINK And NORMALIZE Your PROSTATE Within 15 Days Without Surgery Or Chemical Drugs, Click Here!!!

Join us on


Share your story with us: 08189301900 (Whatsapp and SMS only) Email: dtonline@dailytrust.com

Complain about a story or Report an error and/or correction: +2348189301900

DISCLAIMER: Comments on this thread are that of the maker and they do not necessarily reflect the organizations stand or views on issues.