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Food price inflation: Nigerians suggest ‘Price Control Board’

As there has been no decrease in the prices of food and various other goods despite Naira appreciating to N1000 per dollar, Nigerians have suggested the establishment of a price control board in the country.

 

Making suggestions on social media platforms Nigerians are recommending the establishment of a regulatory body to stabilize prices of goods and services as the primary solution to address the persistent food price hike, especially if the Naira appreciates to N500/$.

This persistent lack of reduction in food and commodity prices despite currency appreciation has become a significant concern among Nigerians, who had anticipated relief.

@Bello Muhammad commented, “The solution to this madness is the establishment of price control board. Though the leaders have rule this out, I am sure in the long run they must adopt it whether they like it or not.”

“Dollar to naira is not the problem our economy, federal government, Control price is the problem”, Oladiran Aribiyi opined.

Attairu Mikailu Yakubu also suggested that “The government should embark on full scale price control on all commodities.”

Still commenting on Facebook, Michael Oladoye reiterated, “Government should may sure there is Price control in town.”

“If the government can solve the problem of transportation immediately the government would have solved almost 50% of the inflation problem.

“Imagine if you produce locust beans or Gari in the village, you’ll need to transport it to towns, the expenses you incurred on Transportation will be added to the cost of value. The moment it is added the price of good will inflate immediately”.

“Government need to regulate the price of transportation system and also set up an agency for price control on some certain goods”, Sulaymon Taiwo suggested.

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