The Oluwo and Paramount Ruler of Iwoland, Oba Abdulrosheed Adewale Akanbi, has advised President Ahmed Tinubu to constitute Price Control Agency (PCA) to checkmate greedy manufacturers and middlemen hiking the prices of commodities in Nigeria.
Oba Akanbi charged the president to act swiftly to make items affordable in the markets across the country.
In a statement by his press secretary, Mr Alli Ibraheem, Oluwo said such price control mechanisms harmonise prices of goods and protect the rights of consumers.
Oba Akanbi who condemned the astronomical increase in the price of goods, noted that most were artificially created by greedy manufacturers and middlemen.
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“If this astronomical increase in the price of goods and services are not checked by a formidable agency to be empowered by the federal government, Nigerians may continue to bleed economically,” he added.
According to him, President Tinubu is a reformist and there is hope that his economic reforms would subsequently take Nigeria out of the woods.
“Constitution of a Price Control Agency is a necessity to harmonise the prices of goods, prevent hoarding and prevent consumers from buying at exorbitant amounts. The agency will further map out modalities for enforcing harmonious price and ensure those culpable are punished,” he said.
