- The lawmaker said the board would also help to track price movements and relate them to other developments in the state economy
The Niger State government is initiating measures to oversee commodity prices, with a bill for the establishment of a Price Control Board successfully passing its first reading at the State House of Assembly.
This development follows a federal high court in Lagos instructing the federal government to set prices for goods and petroleum products within seven days. The bill, presented during Thursday’s plenary by Isa Etsugaie (APC-Agaie), aims to empower the Price Control Board to regulate prices and enhance the market’s supply and demand dynamics.
He said the board would monitor the distribution methods of essential commodities and monitor the operations of the state supply company along with other commercial organisations.
The lawmaker said the board would also help to track price movements and relate them to other developments in the state economy.
Etsugaie said the board would provide important data and analysis on the market situation in the state, reporting directly to the governor.
The house thereafter agreed to the principles of the bill and approved it to be considered for further debate and possible amendment.
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