Nigerian Students Demand Government Intervention to Control Rising Prices

Nigerian students are calling for the establishment of a Price Control Board to regulate the increasing prices of goods and services across the country.

The National Association of Nigerian Students (NANS) expressed their concerns in a statement issued on Thursday in Lagos.

In recent times, the steady increase in the prices of goods and services has been a cause for worry, with the rise in exchange rates being a contributing factor.

However, the students have questioned why locally produced goods are also experiencing price hikes when materials used in their production are sourced locally.

The NANS National President, Akinteye Afeez, has urged the government to prioritize the establishment of a Price Control Board as a matter of urgency.

He believes that this would demonstrate the government’s responsiveness to the needs of the people and its commitment to fostering a fair and prosperous society for all.

The students have also highlighted the discrepancy between the decrease in the exchange rate and the persistent inflation of prices, which they believe indicates a lack of oversight in regulating prices within the local market.

The establishment of a Price Control Board would help protect consumers from arbitrary price hikes and exploitation by unscrupulous traders.

Such a board would play a crucial role in ensuring fairness and transparency in the marketplace, fostering a more equitable and accessible environment for all.

It would also help to curb rampant inflation and mitigate the adverse effects of rising costs on consumers, particularly those from low-income backgrounds.

The students believe that the implementation of price control measures would encourage competition among producers and retailers, leading to improved efficiency and affordability in the market.

Furthermore, the establishment of a price control board would serve as a deterrent to unethical business practices, such as hoarding and price gouging.

Nigerian students are ready to support the government in its efforts to establish the Price Control Board, with the aim of creating a more equitable and sustainable marketplace for the benefit of all citizens.