Hope for Nigerians as Tinubu Receives Order from Federal Court over Economic Hardship, Prices of Products, Others
In a landmark ruling, the Federal High Court in Lagos presided over by Justice Ambrose Lewis-Allagoa, has issued a mandate to the administration of President Bola Tinubu to establish price controls for a range of goods and petroleum products within seven days.
The decision came following a suit (No FHC/L/CS/869/2023) lodged by renowned human rights attorney, Mr. Femi Falana, targeting the Price Control Board and the Attorney-General of the Federation.
The court’s decree encompasses a wide array of essential goods including milk, flour, salt, sugar, bicycles and their components, matches, motorcycles and their parts, motor vehicles and their parts, as well as petroleum products such as diesel, Premium Motor Spirit (petrol), and kerosene. This directive aims to address the escalating prices and prevent the hoarding of these vital commodities.
Falana, a Senior Advocate of Nigeria, approached the court to challenge the Price Control Board’s inaction, citing the Price Control Act which empowers the board to set prices for goods specified in the Act’s First Schedule. He sought legal confirmation that the failure to establish prices for these essential goods contravenes the provisions of the Act.
At the hearing of the case on Wednesday, the plaintiff, Falana informed the court that the motion on notice was premised on Section 4 (1) of the Price Control Act, Laws of the Federation of Nigeria, 2004.
He also told the court that the defendants in the suit had been served with the processes since it was filed in May 2023, but refused and failed to file any response or counter to it.
After listening to the submission, the presiding judge, Justice Lewis-Allagoa, observed that the respondents did not file any counter to the suit.
The judge cited decided cases and held that “all the reliefs contained in the motion paper are hereby granted as prayed”.
He also told the court that the defendants in the suit had been served with the processes since it was filed in May 2023, but refused and failed to file any response or counter to it.
Falana, in the affidavit in support of the motion deposed to by a lawyer in his chambers, Taiwo E. Olawanle, stated that the first defendant, the Price Control Board, was established by the Price Control Act, and it is saddled with the responsibility to fix a price on goods to stabilize the general price level, prevention of hoarding of goods, protection of customers from exorbitant prices, among others.
“Though the price of the commodities listed above is supposed to be imposed by the first respondent, the only petroleum products that are fixed to a certain amount are not being enforced.
“That the price of a bag of rice which was formerly N8,000 has risen to N45,000 in the market.
“The situation in the market is by each passing day is becoming unbearable for consumers as prices of goods kept rising daily.
“Sellers are not always sincere as they are so desperate to make excessive profits at the expense of the buyers.
“Food prices which human beings should not be deprived of are on the high side due to lack of price fixing by the first defendant. And that buyers are at the receiving end when the prices of goods are increased as they tend to suffer for it more.”