Senior Advocate of Nigeria, Femi Falana, in an interview with Channels Television, has urged the Nigerian government to intervene decisively to protect citizens from exploitation by enforcing price control mechanisms as outlined in the Price Control Act. Falana emphasized the necessity of ensuring that the economy is not monopolized by a few, advocating for government intervention to curb rising prices of essential commodities.
In a recent lawsuit against the federal government over its failure to control escalating prices, Falana highlighted the plight of ordinary Nigerians who struggle to afford basic necessities amidst soaring inflation. He criticized the disparity in moderating electricity tariffs, telecom rates, and petrol pump prices through subsidies while essential items like food and medicine witness astronomical price hikes.
The Federal High Court in Lagos responded to Falana’s plea by ordering the government to set price limits for goods and petroleum products within seven days. Justice Ambrose Lewis-Allagoa granted the order following an originating motion filed by Falana, challenging the government’s adherence to the Price Control Act.
In the affidavit supporting the summons, Falana’s legal team underscored the wide array of commodities listed under the Price Control Act, including bicycles, flour, matches, milk, motorcycles, salt, sugar, and petroleum products. The Act empowers the Price Control Board to regulate prices, aiming to protect consumers from economic exploitation.
Falana’s legal action underscores the urgent need for government intervention to alleviate the burden of inflation on ordinary Nigerians.
“Is so bad now that if you pick a food item, if you go back to the market tomorrow, the price has gone up,” Falana said.