With inflation rates steadily rising in Nigeria, the question is: can the government actually control the prices of essential commodities?
National Legal Adviser of the Committee for Defence of Human Rights, Henry Ekine, believes it is not an impossible feat, but it requires prioritising the welfare of Nigerians and reviving crucial legislation.
Speaking on Nigeria Info’s Hard Facts, Ekine lamented the abandonment of the Weights and Measures Act, a law designed to protect consumer rights against arbitrary price hikes. As everyday goods become increasingly expensive, he stressed the need to enforce price control mechanisms to provide some relief.
“It is not impossible to control prices…especially when you know that commodities and services are very essential to the survival and welfare of your citizens,” he said.
So, how exactly can price control work in Nigeria? Ekine explains this, and how by regulating maximum prices for essential goods, the government can help ensure affordability for citizens, in order to address the rising cost of living.
Watch here:
