The subtle reality on this score is that companies take advantage of the loops in the statutes as well as enjoying the juicy enabling provisions of other domesticated laws allowing for profits, buyer’s protection, business competition, to mention a few. The long and short that this paper seeks to unwrap is this crystal: there exist an answer on how companies can benefit from the laws of her country. A queue of paragraphs must now be given ear.
The issue of taking advantage of laws has left many unscrupulous private companies engage in businesses worth injuring the pockets of consumers. Many developed countries have antitrust laws aimed at controlling the excesses of these companies. Take for instance, the issue of bread supply in a university where a monopolistic market is the state of things. Here, the antitrust law regulates the price by putting amount of sale at a ceiling level or ground level. Because a ceiling price will be restricting competition unfavourable to the producers, the law allows for a minimum amount the commodity cannot go beyond but still watch for irregularities. Sadly, no antitrust bill has been passed into law in Nigeria though there are Acts of Parliament and sister Regulations that go to influence the business market. What must be advised is that since the legislature are still in the habit of failing to bring about the enactment of Antitrust Law, a company can set up a business after a careful reading of PRICE CONTROL ACT. A thorough look at this Act shows the sins the law must punish but it also shows the laughable amount of money the law calls fine for erring companies. Taking advantage is restraining from section 6 of the Act which is HOARDING OF GOODS but since the law allows for business competition, it is applaudable to know the prohibited goods, select a lawful enterprise, have control of the market demands, have eyes down to avoid irregularities, et al. It is not advised to start up a business that offends antitrust laws yet enacted in Nigeria for a singular fact that it will be total recklessness and imprudence on companies part who must have heard that the legislature is contemplating the enactment of antitrust laws but blindly goes ahead to let the company be structured on inconsistency with the pending Antitrust bill. The question thus arises, what happens when the company is fully set up and the bill is passed? It is wondered how such company will cope.
The Labour Act, the Export laws, et al are laws that govern the market especially the Labour Act. The country Nigeria is well garnished with fruitful yields little wonder the foreigners persistently fly in to do business and even buy big flats. The point remains, the law over the world allows for business competition. As a matter of diligence, imbibing the thoroughness of Aliko Dangote only gives business thinking succour. Most companies cannot operate at his level but most companies can find the less ventured area still considered lawful as a matter of law. One needs a solid capital not necessarily the entire cash in world bank to galvanize into fruition the reality of a good business. Working on a new brand is good, have it all over the 36 states is better, throwing it into the international scene is the best. Exportation is profit yielding, popularity intriguing, and so on. Coke for instance is without a moot point as far as the above digest so far evinces. There are indeed more feasible ways to take advantage of Nigerian laws as the 3rd schedule of the constitution supports business competition, the Price Control Act, Labour Act, Sale of Goods Act, a legion of policies and regulations, to mention a few. It must be said not in passing that if one must adopt the well profit-inclined hands of exporting goods, then one must do well to read the regulation stipulating the bar that companies cannot attain because of the trite word, illegality, that is all over the statute books. Also, if one must export, one must abide by the rules or steps to bringing to existence the ten to eleven stages of a formal set up of an exporting corpus.