TheCable

Niger state government is taking steps to regulate prices of commodities as a bill for price control board passes its first reading at the state house of assembly.

This is coming after a federal high court in Lagos ordered the federal government to fix the prices of goods and petroleum products within seven days.

According to NAN, the bill which was presented during plenary on Thursday was sponsored by Isa Etsugaie (APC-Agaie).

Presenting the bill, Etsugaie said the price control board would be tasked with not only regulating prices but also improving the overall supply and demand dynamics of the market.

He said the board would monitor the distribution methods of essential commodities and monitor the operations of the state supply company along with other commercial organisations.

The lawmaker said the board would also help to track price movements and relate them to other developments in the state economy.

Etsugaie said the board would provide important data and analysis on the market situation in the state, reporting directly to the governor.

The house thereafter agreed to the principles of the bill and approved it to be considered for further debate and possible amendment.