Intensify efforts at stabilising prices of commodities, Accord tells FG

The Accord Party has called on the Federal Government to intensify efforts to stabilise the prices of commodities in the country.

The Lagos State Chairman of the Party, Mr Dele Oladeji, made the call in an interview with the News Agency of Nigeria (NAN) on Wednesday in Lagos.

Oladeji said that Nigerians were seriously anticipating the reversal of rising prices of consumer goods and food items in the country.

He, therefore, called on the Federal Government to look into all contributory factors causing inflation and intensify efforts at stabilising the prices of commodities.

“To crash the prices of consumer goods and food items, the plethora of high import duties, levies, and fees at the port, road, and markets have to be revisited, reviewed, slashed, or removed.

“Many Nigerians have always wondered why the price of goods is not reducing to reflect the crash in the dollar rate against the naira.

“The reason is that the dollar rate is just one of the several factors that affect trade and production.

“Without a slash in or removal, where necessary, of persisting high import duties on production materials and machinery, with the high levies and fees from local governments on goods in transit, warehouses, and markets, prices of consumer goods will remain high and continue to rise in reaction to these plethora of high fees and levies,” Oladeji said.

According to him, a cursory tax holiday and rebate to some manufacturers are only enriching the hyper-rich industrialists, with zero impact on the general populace.

”Such tax rebates and tax holidays should come with a conditional agreement to subsidise the prices of the produce.

”The FG has to look more into and resolve these other contributory factors to create respite and a reversal of rising prices in consumer goods and food items,” he said.