By NewsBits
Some lawyers have challenged the order of the Federal High Court, which has directed the FG to fix prices of essential commodities. In justifying the exploitative status quo, such lawyers have said that the court order is not enforceable!
It is pertinent to point out that we approached the court to enforce the provisions of the Price Control Act. The Price Control Act was enacted in 1977 by the ruling class based on the demand of the Nigerian people.
The Price Control Act is an existing law that regulates and controls the prices of certain goods in Nigeria. The main purpose of this Act is to ensure that prices of essential goods remain affordable and accessible to the general public. It aims to prevent price exploitation and promote fair pricing practices.
To control the prices of goods, the federal government established the Price Control Board, an agency under the Federal Ministry of Commerce and Industry. The federal government has also set up the Federal Consumer Protection Commission with the mandate of addressing consumers’ complaints, providing consumer education, and encouraging trade, industry, and professional associations to develop and enforce quality standards designed to safeguard the interests of consumers.
In recent times, the FG has stopped hiking of electricity tariffs and telecom charges. Why has the NNPCL not controlled the prices of diesel and kerosene like PMS? If the FG could grant duty waivers of N16 trillion Naira to Dangote, Honneywell and Co in 5 years, why is it difficult to control the prices of the goods imported into the country by the captains of industry?
While lawyers and other privileged citizens can afford the rising cost of essential goods and services, the majority of poor people have been priced out of the market. Therefore, the federal government must intervene to control the prices of essential commodities in Nigeria.
