The Federal High Court in Lagos has directed the Federal Government to set prices for goods and petroleum products within the next seven days.
This order follows an application filed by Senior Advocate of Nigeria, Femi Falana, who questioned the Price Control Board and the Attorney General of the Federation’s compliance with the Price Control Act.
Falana’s affidavit highlighted various commodities, including bicycles, flour, matches, milk, motorcycles, motor vehicles, salt, sugar, and petroleum products, listed in the Price Control Act.
Although the Act empowers the Price Control Board to fix prices, Falana argued that petroleum products’ prices are not consistently enforced.He pointed out the surge in prices, such as a bag of rice jumping from N8,000 to N45,000, affecting consumers and causing challenges for eateries and canteens.
Falana emphasized the need for the Price Control Board to fulfill its duty in imposing prices on these commodities to alleviate the burden on consumers.
