Nigeria: Adopted Russia-Nigeria Memorandum of Understanding on bilateral cooperation in developing and enforcing antitrust regulations

On 7 June 2024, the Federal Antimonopoly Service (FAS) of Russia and the Competition and Consumer Protection Commission of Nigeria signed a Memorandum of Understanding on bilateral cooperation in developing and enforcing antitrust regulations. During their meeting, the representatives discussed measures in antitrust regulation, with a focus on specific markets such as transport and digital sectors. The FAS highlighted Russia's efforts to improve antimonopoly legislation in the digital economy and its collaboration with major marketplaces to establish fair practices. Similarly, Nigeria's focus is on regulating the digital and consumer markets. The memorandum seeks to increase collaboration through the exchange of legislative documents and regulatory experiences and by coordinating actions in investigating cases of unfair competition.