Reps To Investigate Arbitrary Increase in Prices of Commodities

The Nigerian House of Representatives has made the decision to look into the reason behind the steadily rising daily costs of commodities.

At Thursday’s plenary session in Abuja, a proposal made by Delta State legislator Jesess Onuakalusi was adopted, and this resolution came after that. Taking the lead in the motion’s discussion, Onuakalusi attacked the price control board for not doing enough to enforce its mandate to control commodity prices, thereby handing this important task over to marketers.

He maintained that as a result of this disregard, consumers have suffered as a result of growing expenses without commensurate improvements in their earnings.

In order to draw attention to the financial hardship that ordinary Nigerians are facing, Onuakalusi highlighted the contrast between stagnant earnings and the rising costs of necessities. He made the observation that although living expenses are still rising,

‘’The responsibility of the price control board is to regulate the prices of all commodities in Nigeria,’’ the lawmaker noted.

He said the marketers’ arbitrary increase of commodities prices was affecting low-income earners.

Onuakalusi warned that individuals who could not afford expensive things would resort to other means or steal.

He also decried the inability of the price control board to address the arbitrary increase in the price of commodities by businessmen.

Adopting the motion, the House mandated the Committee on Commerce to investigate the daily increase in prices of commodities in the country and present its report within four weeks for further legislative action.