The House of Representatives has mandated the Committee on commerce to investigate the daily increase in prices of commodities in the country and report back within four weeks for further legislative action.
This was a result of a motion moved by Hon Jesess Okey-Joe on the Need to Awaken the Price Control Board of Nigeria to its Constitutional Responsibilities and was adopted by the house.
While moving the motion, the lawmaker noted that the Price Control Board of Nigeria has left its responsibilities to the marketers who are now responsible for increasing the prices of commodities with impunity and to the detriment of consumers.
The house expressed concerned 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.
