FG, states legally empowered to control prices of commodities, services – Falana

Human rights lawyer Femi Falana (SAN) maintains that the federal and state governments are empowered by several laws to control the prices of goods and services.

Falana spoke on the heels of the rising cost of food items in the country and the increasing inflation rate.

In a Tuesday statement, the legal practitioner faulted those who claimed that since “Nigeria is a capitalist country,” the government cannot regulate prices of goods and services.

He argued that: “Notwithstanding that Nigeria operates a so-called free market economy, several laws have imposed a duty on the Federal Government and state governments to regulate the prices of fuel, tickets for train and domestic air travels, schools fees paid in government colleges and tuition in tertiary institutions, water rates, electricity tariffs, telecom call rates, tolling fees paid by road users, land use charge, fees for land documentation, rents paid by tenants and wages paid to workers”.

He cited several examples, within and outside Nigeria, of the government’s efforts at controlling the prices of goods and services, and also said the moves were backed by the law.

“In view of the rising cost of living in Nigeria as a result of the religious implementation of neoliberal policies dictated by the International Monetary Fund and the World Bank, the Nigerian people should mount pressure on the Federal Government and State Governments to invest in massive production of food and other goods,” Falana said.