By Seun Ibiyemi
The Major Energy Marketers Association of Nigeria (MEMAN) has pointed out the urgent need for a more robust competition framework in the country’s energy and broader economic sectors, during its Q2 2025 quarterly press engagement themed “Fair and Healthy Competition.”
The event, which drew stakeholders from across regulatory, corporate, and civil society circles, emphasized the transformative role competition plays in driving innovation, lowering prices, improving quality, and spurring economic growth.
Highlighting both local and international case studies—from Nigeria’s telecoms and banking industries to global examples like M-Pesa in Kenya and renewable energy in South Africa—MEMAN underscored how healthy market rivalry benefits consumers and businesses alike.
However, NEMAN also pointed to Nigeria’s current challenges, including limited enforcement capacity, low public awareness, regulatory overlaps, and slow judicial processes, which hamper fair market practices.
Despite progress through initiatives like merger oversight and consumer protection efforts by the Federal Competition and Consumer Protection Commission (FCCPC), gaps remain significant.
A key focus was the implementation of the Petroleum Industry Act (PIA) 2021, which seeks to unbundle and commercialize the NNPC, enforce licensing transparency, and promote third-party infrastructure access—moves seen as critical for enabling true competition in Nigeria’s energy landscape.
Drawing from global best practices, MEMAN called for stronger strategic enforcement, independent regulation, and policy alignment.
Also warned of the risks posed by dominant firms, urging frameworks that balance market leadership with the prevention of monopolistic abuses.
MEMAN’s recommendations included setting clear dominance thresholds, enhancing inclusive procurement, protecting whistleblowers, and leveraging digital tools for oversight. It urged all stakeholders—private firms, regulators, media, and consumers—to actively support the drive toward a fairer, more competitive marketplace.