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From Ndubuisi Orji, Abuja
The House of Representatives has mandated its Committee on Commerce to investigate the incessant hike of prices of commodities in the country.
The House, which mandated the committee to report back within four weeks for further legislative actions, frowned at the failure of the Price Control Board to live up to its responsibilities.
This followed the adoption of a motion by member representing Oshodi II Federal Constituency of Lagos State, Jesess Okey-Joe Onuakalusi , on the need to “awaken the Price Control Board of Nigeria to its Constitutional Responsibilities.”
Onuakalusi, in the motion, expressed concerns that the Price Control Board abdicated its responsibilities, thereby making it possible for marketers to increase prices of commodities with impunity, to the detriment of
consumers. He said this is regardless of the fact that the take home pay of workers in the country has not increased.
According to him, “The Act establishing a governing body known as the Price Control Board is responsible for overseeing and enforcing price control regulations. The Act also establishes for each state a committee
to be the Price Control Committee to advise and assist the Board on the implementation of this Act,
but without an outcome as the Board is inactive.
“The responsibilities of the Price Control Board of Nigeria are to regulate the prices of all commodities in Nigeria and ensure that the marketers comply for the prices to be comparable with the
income of the Nigerian civil servants.”
The lawmaker argued that “this trend of leaving the prices of commodities at the marketer’s discretion is affecting
mostly low-income earners and also increasing crime, as individuals unable to afford to purchase at an
exorbitant price will resort to other means or steal.”
