House of Representatives To Probe Soaring Commodity Prices Amid Concerns Over Inflation


The House of Representatives has instructed its Committee on Commerce to investigate the continuous increase in commodity prices across the country.

This follows the adoption of a motion presented by Rep. Jesess Onuakalusi (PDP-Delta) on the “Need to Awaken Price Control Board of Nigeria to its Constitutional Responsibilities.

According to Onuakalusi, the board has neglected its duty to control commodity prices, leaving marketers to dictate prices at the expense of consumers.

He stressed that workers’ take-home pay has remained stagnant, while the cost of living continues to rise.

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

Onuakalusi further expressed disappointment in the Price Control Board’s inaction regarding the arbitrary increase in commodity prices by businessmen. This, he emphasized, has contributed to the growing financial hardship faced by Nigerians and could lead to an increase in crime if left unchecked.

In response to Rep. Jesess Onuakalusi’s motion on commodity prices, the House of Representatives has directed its Committee on Commerce to investigate the daily increase in the cost of commodities across the country. The committee has been given four weeks to conduct the investigation and submit a report, which will inform further legislative action.

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