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House Of Reps Mandates Investigation Into Daily Increase In Prices Of Commodities

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

This development is coming on the heels of 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

While presenting the motion, Onuakalusi lamented that the price control board had abandoned its responsibility of controlling commodity prices and had left the task 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.

The lawmaker asserted that the act 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.

Onuakalusi expressed worry that the board had failed to take 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.

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