Mr Enelamah made the statement during a public hearing on Tuesday on two consolidated bills organised by the House of Representatives Committee on Commerce to ensure fairness in economic activities in Nigeria.
The Federal Competition and Consumer Protection Bill seeks to establish a commission to regulate competitive activities in every sector of the economy.
The bill, which is co-sponsored by the Speaker of the House of Representatives, Honourable Yakubu Dogara, aims at promoting and protecting a competitive market from unjust business practices.
Mr Dogara was represented at the public hearing by Honourable Pally Iriase who stressed the need for the establishment of the commission.
The Chairman of the House Committee on Commerce, Honourable Sylvester Ogbaga, identified the bill as a way to aid the diversification of Nigeria’s economy and create jobs.
The Minister of Trade, Investment and Industry also advocated for competition laws to strengthen the nation’s economy and recommended the quick passage of the bill.
Other agencies and groups, however, emphasised the need to strengthen regulatory bodies.
Participants at the public hearing agreed that the Federal Competition and Consumer Protection Bill would encourage foreign investments and facilitate the growth of small and medium scale enterprises in the country.
The approval of the commission had earlier been given by President Muhammadu Buhari few days ago, according to the Vice President, Professor Yemi Osinbajo.
A statement by a spokesman for the Vice President, Laolu Akande, said Professor Osinbajo announced the approval of the commission while presiding over the first Quarterly Consultation between the presidency and the Manufacturers Association of Nigeria on Friday afternoon.