Nigeria slaps $110 million fine on BAT over market dominance & health regulations

Nigeria's competition watchdog, the Federal Competition & Consumer Protection Commission (FCCPC), has issued a directive requiring British American Tobacco (BAT) to pay a substantial $110 million fine as part of a settlement to address alleged abuses of market dominance and violations of public health regulations. The FCCPC revealed on Wednesday that BAT, known for producing brands like Lucky Strike and Dunhill cigarettes, was implicated in a range of anticompetitive behaviours. These included tactics to impede competitors, penalising retailers for offering fair platforms to rival products, and contravention of public health control regulations.

BAT has not immediately responded to a request for comment via email regarding the regulatory action. The FCCPC, in a statement on the social media platform X, disclosed that the resolution emerged from a thorough investigation into BAT's conduct. The competition agency and BAT have mutually agreed to a consent order, which incorporates the $110 million penalty. The fine is intended to address the multifaceted allegations, underscoring the gravity of the anticompetitive practices and regulatory infringements attributed to the multinational tobacco company.

(With Reuters Inputs)