Very scary indeed: “In a controversial ruling that is likely going to impact Nigeria’s economic situation, the Federal High Court in Ikoyi, Lagos, has mandated the Nigerian government to regulate the prices of essential goods and petroleum products within seven days.”
In the ruling, Justice Lewis-Allagoa held: “I have had the applicant Femi Falana in a suit no San, FHC/L/CS/869/2023 and I have also discovered that despite the service of the Originating motion on the respondents namely Attorney-General of the Federation and the Price Control Board, no opposition to it by way of counter affidavit, which is law that all the facts deposed in the affidavit attached to the originating motion are all deemed admitted.
“Consequently, all prayers that are sought for in the motion papers are hereby granted as prayed.”
This effectively compels the government to take action on setting prices for a range of commodities outlined in Falana’s petition.
Falana’s motion addressed various items, including bicycles and spare parts, flour, matches, milk, motorcycles and their spare parts, motor vehicles and their spare parts, salt, sugar, and petroleum products such as diesel, petrol motor spirit (PMS), and kerosene.
Good People, this is not a good ruling because the Court is fighting the wrong people (the sellers). The reason spare parts, cars, etc are expensive is not because the shop owners are pure greedy humans, but because the Naira is not doing well with US dollars, and the Customs has also increased import duties on products. So, asking the government to fix pricing makes no sense.
Rather, the Honourable Judge can use all the powers vested to proclaim thus: “1 Nigerian naira is now equal to 1 USD dollars, and all import duties waived”. If those are done, we can then talk of fixing prices in shops on imported products.
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Sure, that is not to say that I support those who are exploiting the paralysis in the nation to bring more pain; those should face the law.
Very scary indeed: “In a controversial ruling that is likely going to impact Nigeria’s economic situation, the Federal High Court in Ikoyi, Lagos, has mandated the Nigerian government to regulate the prices of essential goods and petroleum products within seven days.”
Good… pic.twitter.com/EZwwnq66fu
— Ndubuisi Ekekwe (@ndekekwe) February 8, 2024
Federal High Court Orders Nigerian Government to Fix Prices of Goods and Petroleum Products
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