Home Breaking News Reps to investigate daily increase in prices of commodities

Reps to investigate daily increase in prices of commodities

The House of Representatives has mandated the Committee on Commerce to investigate the daily increase in prices of commodities in the country.

This followed the adoption of a motion by Rep. Jesess Onuakalusi (PDP-Delta) on ”the Need to Awaken Price Control Board of Nigeria to its Constitutional Responsibilities,’’ at plenary on Thursday.

Presenting the motion, Onuakalusi said that the price control board had abandoned its responsibility of controlling commodity prices to the marketers at the detriment of consumers.

He said that the take-home pay of workers had yet to be increased, but the country was witnessing daily increases in prices of commodities.

‘’The responsibility of the price control board is to regulate the prices of all commodities in Nigeria,’’ he said.
He said that the practice of increasing prices of commodities by marketers was affecting low-income earners.

This, according to him was because individuals who were unable to afford things at exorbitant price would resort to other means or steal.

He expressed worry that the board had not taken action on the arbitrary increase in 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 report within four weeks for further legislative action
(CDA News)

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