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COMPARATIVE ANALYSIS OF COMPETITION LAW IN USA SOUTH AFRICA AND NIGERIAN POWER SECTORS by Akinola O B

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Competition Law as a branch of law is the law against monopolistic practices and anticompetitive conducts in any economy. The paper espoused the concept of antitrust law otherwise known as competition law and stressed its importance in boosting the economies of the United States as a developed economy, and the South African economy as a developing economy. This paper comparatively examined the legal framework of the United States antitrust statutes and the South African Competition statutes which check and sanction anticompetitive conducts by sectoral stakeholders in the power sector of the identified jurisdictions. The paper traced very briefly the evolution of competition legal framework in Nigeria in the light of six unsuccessful bills before the National Assembly. The paper further comparatively analysed the loopholes in the Nigerian power sector when the searchlight of what is operative in these identified jurisdictions was beamed on the Nigerian electricity industry. The paper noted that, of the 3 jurisdictions under review, it is only Nigeria that lacks both the institutional and legal framework for the implementation of this unique law. The paper is of the view that the provision of section 121 of the Investments and Securities Act 2007 is lame and insufficient in combating anticompetitive practices in the Nigerian economy. The paper ends with the effect which the absence of competition law has on the Nigerian power sector and concluded on the need to as a matter of urgency enact a competition legal regime to combat the monopolistic practices prevalent in the Nigerian electricity industry in view of the ongoing reforms in the sector by the Federal government.
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This is the Inaugural Lecture of Professor Omoniyi Bukola Akinola delivered on 8th September 2022. The Lecture bothers on the tripod of Professional Ethics, Corporate Governance, and Legal Education. It examined the roles Professional ethics and good corporate governance play in the training of lawyers in the 21st century. It made recommendations on how to improve the training of lawyers in the 21st century.
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