June 10, 2026
By Gift ChapiOdekina, Abuja
The House of Representatives on Wednesday advanced reforms to Nigeria’s price control regime as lawmakers passed a bill to amend the Price Control Act through second reading after a debate on its relevance to current economic realities.
Leading the debate, Ahmed Munir said the 1977 legislation had become outdated and ineffective in addressing modern market challenges.
He noted that while the original intent of the Act was to protect Nigerians from hoarding, price gouging and artificial scarcity, its provisions no longer reflect the economic conditions of 2026.
