On Wednesday, the Federal High Court in Lagos issued a directive to the Federal Government, compelling them to regulate the prices of various goods and petroleum products within the next seven days. The court’s decision, delivered by Justice Ambrose Lewis-Allagoa, specifically ordered the government to set prices for items such as milk, flour, salt, sugar, bicycles and their spare parts, matches, motorcycles and their spare parts, motor vehicles and their spare parts, as well as petroleum products including diesel, Premium Motor Spirit (PMS), and kerosene.
This order came as a result of a lawsuit (Suit No FHC/L/CS/869/2023) filed by human rights activist Mr. Femi Falana against the Price Control Board and the Attorney-General of the Federation. Falana sought the court’s intervention to determine whether the Price Control Board, as the first respondent, was fulfilling its duty under Section 4 of the Price Control Act to impose prices on specified goods.
In the suit, Falana demanded a declaration that the failure or refusal of the respondents to set prices for various commodities, including bicycles and spare parts, flour, matches, milk, motorcycles and spare parts, motor vehicles and spare parts, salt, sugar, and petroleum products, is illegal and contravenes Section 4 of the Price Control Act.
During the hearing, Falana informed the court that the motion was based on Section 4 (1) of the Price Control Act. He also noted that the defendants had been served with the necessary documents since May 2023 but had not provided any response or counterarguments.
In response to Falana’s submission, Justice Lewis-Allagoa observed the absence of a counter from the respondents and granted all the reliefs sought in the motion paper. The court’s decision underscores the urgency of addressing the pricing of essential goods and petroleum products in accordance with existing legislation.
The affidavit supporting the motion, deposed to by a lawyer in Falana’s chambers, outlined the responsibilities of the Price Control Board and emphasized the need for the first respondent to fix prices to stabilize the general price level, prevent hoarding of goods, and protect customers from exorbitant prices. Falana argued that the failure to enforce price fixing, particularly in the case of petroleum products, has led to rising market prices, affecting consumers and creating challenges in the market.
