The House of Representatives has directed its Committee on Commerce to look into the rising prices of goods in the country.
This decision came after Jesess Onuakalusi, a member from Delta State, proposed a motion titled “The Need to Awaken Price Control Board of Nigeria to its Constitutional Responsibilities” during a session on Thursday.
Onuakalusi highlighted that the Price Control Board has neglected its duty of regulating commodity prices, leaving it to marketers, which is harming consumers.
He pointed out that while workers’ salaries remain unchanged, the prices of goods keep going up every day.
He emphasized that it’s the Price Control Board’s job to oversee and regulate commodity prices in Nigeria, and the failure to do so is particularly impacting low-income earners.
He expressed concern that if prices continue to rise unchecked, people might resort to desperate measures like theft.
He raised alarm that the board hasn’t taken any action against the unjustifiable price hikes by businessmen.
In response, the House tasked the Committee on Commerce to investigate the ongoing increases in commodity prices and submit a report within four weeks for further legislative action.
