ECOWAS Warns Against Price-Fixing Threatening Growth

The Economic Community of West African States Regional Competition Authority has issued a warning regarding price-fixing, market allocation, and anti-competitive practices that undermine economic integration and inflate goods' prices across West Africa. Dr Simeon Koffi, Executive Director of the authority, stated that such practices deny consumers fair prices, limit small business opportunities, and weaken regional competitiveness.

Speaking at the National Information and Awareness Seminar on Competition Law and Policy in West Africa in Abuja, Koffi, represented by Justice Lago Daniel, highlighted that competition is essential for economic efficiency and consumer protection. He noted that the Competition and Consumer Protection Product Safety Support Programme is vital for enhancing the business environment and promoting sustainable economic growth.

Koffi warned that unchecked anti-competitive conduct would hinder economic integration. Mr Leonard Ugbaja, a consultant and member of the authority, mentioned ongoing efforts to improve public understanding of competition law in Nigeria and Ghana, addressing cross-border competition issues affecting multiple ECOWAS member states.