Nigeria: Adopted FCCPC Notice in Respect of Indicative Timeframes for Merger Notification and Review Process

On 7 July 2022, the Federal Competition and Consumer Protection Commission (FCCPC) issued the Notice in Respect of Indicative Timeframes for Merger Notification and Review Process. The Notice, according to the Federal Competition and Consumer Protection Act, 2018, and the Merger Review Regulations 2020, is applicable to all industries, including merger parties. It details indicative timeframes for pre-notification engagement, phase one and phase two review processes for small and large mergers, and decisions. For small mergers, Phase One review takes up to 20 days, extendable to 35 days with remedies, and Phase Two adds 40 days, totalling 60 days. For large mergers, Phase One takes up to 60 days, extendable to 90 days with remedies, and Phase Two adds 60 days, totalling 120 days. Merger parties must engage with the Commission at least two weeks prior to formal notification, participate in market testing, and respond to any Issues Paper or propose remedies if competition concerns arise, ensuring mergers do not negatively impact competition.