By Editor
The Federal Government has directed the Federal Competition and Consumer Protection Commission (FCCPC) to investigate social media platform X, Meta Platforms, and several artificial intelligence companies over allegations of anti-competitive practices in Nigeria.
The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, announced the directive on Monday, saying the investigation would examine complaints relating to market dominance, unfair business practices, and possible abuse of consumer data.
According to the minister, the probe forms part of the government’s efforts to ensure a fair and competitive digital economy that protects both consumers and local businesses.
She explained that concerns had been raised by stakeholders regarding the conduct of some global technology firms operating in the country, particularly in relation to competition, pricing practices, access to digital markets, and the treatment of Nigerian businesses.
Oduwole said the FCCPC would work with relevant regulatory agencies to determine whether any company had violated Nigeria’s competition and consumer protection laws.
The minister stressed that the investigation was not intended to discourage foreign investment but to ensure that all companies operating in Nigeria comply with the nation’s legal and regulatory framework.
She added that the government remains committed to promoting innovation and digital growth while preventing practices that could undermine competition or disadvantage consumers.
The FCCPC is expected to engage affected companies, industry stakeholders, and consumer groups as part of the investigative process.