Industrialist urges FG to establish Essential Commodity Board to control food price hike

By Praise Chinecherem

An Industrialist, Chief Jonathan Nzekwe has called on federal government to establish ‘Essential Commodity Board’ to assist in controlling hike in prices of essential commodities, especially food items to save Nigerians from biting hunger and starvation.

Speaking to newsmen in Awka, Nzekwe regretted hardships Nigerians were passing through, calling on federal government to make friendly economic policies that would have direct bearing on the populace.

He praised federal government’s reduction of importation duty on some commodities especially rice, drugs, among others which he said would go a long way in improving living standards of the people.

Nzekwe, a member of Independent Petroleum Marketers Association of Nigeria (IPMAN) described as ridiculous the high pump price of petrol in Nigeria that prides its self as a major explorer of crude oil.

He blamed hike in price of petroleum products on poor government policies and called for measures to address the anomaly.

“Government must seek ways of stabilizing the pump price of petroleum products which is having multiplier effect on the economy,” he added.