Reps call for reintroduction of price control board

The House of Representatives has tasked the Federal Government to consider reintroduction of price control board to ensure goods are sold at government’s approved prices to stabilise the general price of commodities.
This followed the adoption of a motion on matters of urgent public importance by Hussaini Jallo at plenary, yesterday.
The motion was titled: ‘’Need to enforce the price control act to regulate and monitor price of essential goods and services in the country.’’
Presenting the motion, Jallo said the board would also help to prevent hoarding of goods and protect customers from exorbitant prices.
He said the general rising of prices in Nigeria had its attendant effect on goods and services.
He said there was a need to put in place a Price Control Act to stabilise the nation’s economy by preventing excessive inflation and ensuring affordability of essential commodities for the blue print of all. He said the absence of a price control board would give room to manufacturers, wholesalers and retailers of agricultural products to inflate the costs of production.
This, according to him, would disrupt the economic equilibrium of the nation.
He said lack of proper regulation on prices of commodities had resulted in unpredictable rise in the costs of petroleum products especially Petroleum Motor Spirit (PMS).
Others, he said, included the Automotive Gas Oil (AGO) and kerosene, the volatility in pricing affected the transportation sector which in turn influenced the cost of living of the ordinary citizen. He said if the present economic hardship was left unchecked it would lead to economic disparity and subsequently contribute to social unrest.
He added that it would also contribute to discontent amongst the citizenry and perceive the government as insensitive to their needs.
The House, therefore, urged the Federal Government to ensure zero duty on agricultural products for a period of five years to encourage agricultural production and reduce the farmers’ burden.
The House said the price control board would be responsible for setting, regulating and monitoring the price of essential commodities not only limited to cement, sugar and food items.
The House, therefore, mandated its Committee on Commerce to ensure compliance and report back within four for further legislative action.
In another resolution, the House urged the Nigerian National Petroleum Corporation Limited (NNPCL) to revisit the Biomass Ethanol Project abandoned in Benue State.
This followed the adoption of a motion by Sekav Iyortyom, titled, “Revitalisation of the Biomass Ethanol Project Abandoned by the Nigerian National Petroleum Company Limited (NNPCL) in Benue State.”
He said in 2017, a Memorandum of Understanding (MOU) was signed between the NNPC Ltd. and the Benue State Government on the Biomass Ethanol Project in Benue State.
He said it was aimed at establishing a biogas cogeneration plant that would generate 64 megawatts of electricity, carbon dioxide recovery and bottling plant to produce 2000 tonnes annually and an animal feed plan.
He noted that the NNPCL was mandated by the Federal Government in 2005 to establish a domestic fuel ethanol industry, reduce Nigeria’s reliance on imported gasoline, and environmental pollution, and create a sustainable commercial sector.
He said as part of the August 2005 Federal Government directive, the NNPCL was directed to establish a fuel ethanol industry in six geo-political zones of Nigeria to improve automotive fossil fuel quality.
The project included a sugar cane feedstock plantation, a sugar mill, and a fuel ethanol processing plant.
“The House is also cognizant that the Benue State Government and Nigerian NNPCL have provided 50,000 hectares of unencumbered land, completed a perimeter survey,
“Also, a topographical survey for engineering designs, educated and mobilised local communities for the project, while NNPCL has completed feasibility studies, an environmental impact assessment, and has unannounced core investors.”
He said the NNPCL, the Benue State Government, and the Federal Government had spent millions of dollars on the Biofuel ethanol project.
He said the House was aware the project was aimed at reducing insecurity in North Central Nigeria, create over 10,000 jobs for farmers, and alleviate unemployment among the region’s youth and women,” the motion reads.
In its resolution, the House said the NNPCL should return the project to its original location as per the MoU between the NNPCL and the Benue State Government.
The House also mandated the Committee on Downstream Petroleum to invite the NNPCL to ascertain why the project was abandoned and the need for it to be revitalised.
The House also mandated the Committee on Legislative Compliance to ensure compliance.