What about the electricity sector where you have a monopolist exploiting Nigerian consumers, refusing to provide meters but revelling in estimated billing?
This is a very important question. But in a free market, it is the market forces that control prices. What the competition regulator does is to regulate those market forces. Essentially, if the market is operating optimally, there will be competition in the market, and there will be innovation and quality.
Our role is not to structure the market. Monopolies are a natural phenomenon all over the world. When there are monopolies or dominance, do you create a company to compete? There are many ways monopolies or market dominance arises. When there is monopoly, there is a lot more scrutiny. What we do is to eliminate entry barriers where there is monopoly. We usually try to find out why there is monopoly in the first place.
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