Government Action: Lawmakers Gear Up To Investigate Escalating Costs Of Everyday Items

Government Action: Lawmakers Gear Up To Investigate Escalating Costs Of Everyday Items....KINDLY READ THE FULL STORY HERE▶

The House of Representatives has tasked its Committee on Commerce with probing the daily surge in commodity prices across the nation……….CONTINUE READING

This decision came after Jesess Onuakalusi (PDP-Delta) introduced a motion titled “The Need to Awaken the Price Control Board of Nigeria to its Constitutional Responsibilities” during Thursday’s plenary session.

In his presentation, Onuakalusi highlighted the neglect of duty by the price control board, emphasizing that it had relinquished its mandate of regulating commodity prices to marketers, to the detriment of consumers.

He pointed out the contradiction where workers’ wages remain stagnant while commodity prices escalate daily, stressing that the board’s primary role is to oversee price regulations across all commodities in Nigeria.

Onuakalusi underscored the adverse impact of price hikes on low-income earners, noting that such increases often force individuals to seek alternative means of sustenance, including resorting to theft.

Expressing concern over the board’s inaction towards arbitrary price hikes by business entities, he called for urgent intervention to address the situation.

Following deliberations, the House adopted the motion and instructed the Committee on Commerce to conduct a thorough investigation into the daily escalation of commodity prices nationwide. The committee is expected to submit its report within four weeks, paving the way for further legislative measures.

For more information join our WhatsApp group by clicking the link here: WhatsApp Group Invite

Stay connected via Google News

Follow us for the latest travel updates and guides.