The House of Representatives has set up a special committee to investigate the rise in the prices of goods and services in the Nigeria.
This was sequel to the adoption of a motion moved by Ibrahim Adekunle Isiaka (APC,Ogun) at the plenary on Wednesday.
Presenting the motion, the lawmaker said ordinary Nigerians are finding it difficult to afford food items, baby food, cooking gas and other basic needs.
“The prices of food items, commodities, goods and services have skyrocketed by as much as 100 per cent in many parts of Nigeria in the last one year attributed largely to monetary policy, border closures, COVID-19 containment measures, and insecurity, causing Nigeria’s inflation rate to rise geometric progression in August 2021.
“Price Index in the past months has increased astronomically owing to many controllable and uncontrollable factors with inflation at a 48-month high, posing the challenge for increased spending on housing, shelter, medicals, clothes baby food and even cooking gas.
“Because our nation’s local production still falls short of our local demand, minding the population, climate change, and hunger, a major future issue looms if, immediate remedial action is not taken care off soon, by this House.
“The World Bank’s report that Nigeria’s economy contracted by -1.8% in 2020, lower than the -3.2% loss the organization had predicted at the beginning of the pandemic.
“Unfortunately, this is still the lowest decline Nigeria’s economy has experienced since 1983. Bottom of form what does this mean for the average Nigerian?”
After contributions from members, the House resolved to set up the Special committee which will engage with stakeholders in the economic sector and find ways to address the issue.
The Speaker, Femi Gbajabiamila announced the members of the committee.
The Special Committee chaired by Peter Akpatason (APC,Kogi) has Iduma Igariwey, Olufemi Bamisile, Usman Zanna, Mansur Manu Soro, John Dyegh and Kolawole Lawal as members.
Other members include; Ibrahim Isiaka, Omowunmi Ogunlola, Bolaji Yusuf, Abdullahi Salame, Isa Dederi, Munir Babba Dan Agundi Dolapo Badru, Prince Obi and Sani Ma’aruf
