FEDERAL COMPETITION AND CONSUMER PROTECTION ACT

Section 59: Prohibition of agreements in restraint of competition

2018Section 59 of 168Federal Republic of Nigeria

(1) Any agreement among undertakings or a decision of an association of undertakings that has the purpose of actual or likely effect of preventing, restricting or distorting competition in any market is unlawful and,
subject to section 61 of this Act, void and of no legal effect.
(2) The prohibited acts under subsection (1) include, in particular-
(a) directly or indirectly fixing a purchase or selling price of goods or services, subject to section 107 of this Act ;
(b) dividing markets by allocating customers, suppliers, territories or specific types of goods or services ;
(c) lirniting or controlling production or distribution of any goods or services, markets, technical development or investment, subject to section 108 of this Act ;
(d) engaging in collusive tendering, subject to section 109 of this Act ; or
(e) making the conclusion of an agreement subject to acceptance by the other parties of supplementary obligations which, by their nature or according to commercial usage, have no connection with the subject of such ageement.

Cite this section

Section 59, FEDERAL COMPETITION AND CONSUMER PROTECTION ACT (2018).

https://repo.podus.ai/laws/federal-competition-and-consumer-protection-act/section/59/