Latest News

BREAKING: Price Control In Nigeria: 5 Okro is 100Naira – Dollar Don Fall Naira Don Rise Baby Milk Still dey For 7,000 Naira!

In February, a bag of rice was N80,000. It went up to N95,000 and now it’s down to N88,000 a bag. We expect by June, it will come down to N85,000 because Ramadan and fasting are over. Now, the price of a loaf of bread is 1,300 in February, it is now at 1,600. We expect it to drop to 1400.”

Price Control in Nigeria was effectively introduced by the Price Control Act 1977 (the “PCA”). Though initially enacted as a decree by the military government, it officially became an Act, by virtue of the existing law, after Nigeria’s transition from military rule to a democracy.

Which Agency is responsible for price control in Nigeria?

the Federal Ministry of Commerce

The Petroleum Products Pricing Regulatory Agency (PPPRA) is an agency of the government of Nigeria established in 2003 to, among other responsibilities, monitor and regulate the supply and distribution, and determine the prices of petroleum products in Nigeria. Its headquarters is located in Abuja, Nigeria.

PRICE CONTROL ACT

ARRANGEMENT OF SECTIONS

Constitution, etc., of Price Control Board and Committees

SECTION

1.  Price Control Board.

2.  Price Control Committees.

3.  Provisions supplemental to sections I and 2.

Imposition of price control, offences, etc.

4. Imposition of price control.

5. Fixing of controlled price.

6. Prohibition of sale above controlled price.

7. Hoarding.

8. Resale price maintenance.

9. Enforcement staff.

10. Duty to furnish information to the Board; penalty.

11. Seizure of goods suspected of being liable to forfeiture.

12. Requisition and seal ing of premises.

13. Court order preventing habitual offender from carrying on business concerning controlled commodity.

14. Offences by bodies corporate.

Trial of offences

15. Trial of offences.

Miscellaneous

16. Exclusion of personal liability.

17. Regulations.

18. Interpretation.

19. ShOJ1 title, repeal, savings, etc.

dotifi.com buy selldomains

OUR SOCIAL ADVERT NETWORK !

Social Media

Learn how to boost your income from your web pages using ADNG publisher account. Show text/banner ads which are most relevant to your site content. Earn revenue from the clicks you receive on our ads displayed in your pages. Filter out your competitors from your ad display units.

(Only the headline and picture of Some of These reports may have been reworked by the Swordpress Social Network & staff; the rest of the content is auto-generated from a syndicated feed.)

9jabook Reloaded !

Join our community. Get Free Website Hosting & More

No posts found.

No posts found.

Nothing more to show.