The Youth Assembly of Nigeria (YAN) don call on Federal Government to strengthen enforcement of commodity price regulations. Dis one na to promote economic stability and protect Nigerians from arbitrary increases for prices of goods and services.
Speaking with journalists for Abuja, National Speaker of YAN, Rt. Hon. Famuyibo Oluwasegun, express concern about high cost of essential commodities. Even though pump price of Premium Motor Spirit (PMS) don reduce recently, prices of goods still dey high.
According to Famuyibo, anytime petrol cost increase, prices of goods go rise immediately. But when fuel price drop, the prices no dey follow come down. He say dis situation show weak market regulation and enforcement.
He note say di trend don continue to put financial pressure on millions of Nigerians. He call on relevant authorities to make sure consumers benefit from lower transportation and production costs.
Famuyibo say within last six months, pump price of petrol don drop from about ₦1,350–₦1,400 per litre to between ₦1,090 and ₦1,120 per litre. But he observe say prices of food items and other essential commodities remain largely unchanged.
He urge Federal Competition and Consumer Protection Commission (FCCPC), state consumer protection agencies, and other regulatory bodies to intensify market surveillance. Dem must enforce fair pricing practices and ensure reductions for operational costs reflect for prices of goods and services.
According to YAN Speaker, effective enforcement of commodity price regulations go help reduce inflationary pressures. E go improve purchasing power of Nigerians, stimulate economic growth, and strengthen public confidence for country’s economic management.
YAN reaffirm commitment to advocate policies wey go promote economic justice, social welfare, and sustainable national development. Di organisation also appeal to traders, manufacturers, transport operators, and other stakeholders to act responsibly. Dem must pass di benefits of lower fuel prices to consumers through more affordable pricing of goods and services.
