As At January A Bag Of Cement Was N5000 But Today A Cement Bag Is N7000, Who Is Regulating It?-According to Monday Ubani

Monday Ubani, a former vice president of the NBA, has bemoaned the sharp rise in cement prices, which went from N5000 in January to N7000 in early February, highlighting the need for regulatory action. He maintained that, in spite of current legislation, there has been a substantial change in the government’s lack of interest in combating inflation and controlling prices. He claimed that the situation wherein merchants inflate their market prices is the result of the absence of government intervention. He demanded that the government step in and start enforcing price limits on a range of goods within seven days, stressing how important it is given the current state of the economy. CONTINUE FULL READING>>>>>

He said in an interview with Channels TV, ”Muritala Mohammed’s regime went with the military and he was trying to enforce prices in Nigerian We experienced it even in the 70s and 80s, you know there was some level of government intervention in the price of things in Nigeria. It has got to a stage that government does not in anyway show interest in the issue of inflation and price fixing. And the law has always been there.

People now look at the non-interference of government and they are taking advantage of it. As at January a bag of cement was N5000 but today a Cement bag is N7000, who is regulating it? It’s not proper and it’s not right. What is the parameter you are using for N5000 in January and now in early February, it’s now N7000. So it’s pure madness. And I think that the government within seven days must order and say let’s now begin to fix prices on items. And that is the best thing for them to do.” CONTINUE FULL READING>>>>>