Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,153,427 members, 7,819,554 topics. Date: Monday, 06 May 2024 at 06:03 PM

This Nigerian Law Can Force A Fixed Price On Anything You Sell. - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / This Nigerian Law Can Force A Fixed Price On Anything You Sell. (573 Views)

Nobody Can Force Buhari To Disclose His Ailment — Femi Adesina / ‘Nobody Can Force Oyegun Out Of Office As APC National Chairman’ - Inegbeniki / No One Can Force Any Senator Out Via Protest-Senator Ali Ndume (2) (3) (4)

(1) (Reply) (Go Down)

This Nigerian Law Can Force A Fixed Price On Anything You Sell. by Chukzyfcb(m): 4:56pm On Jan 24, 2016
Do you know there is a draconian law that gives power to the FG to fix prices on certain commodities. Infact the law is still active but totally oblivious to so many because it was praticised mostly in the 70's.
****************************************According to Section 6 Subsection 1 of the price control act of 1977, It shall be unlawful for any person to sell, agree to sell or offer to sell any or employ any other person, whether or not that other person is of full age, to sell any controlled commodity at a price which exceeds the controlled price.

1. Bicycles and spare parts.
2. Flour.
3. Matches.
4. Milk.
5. Motorcycles and spare parts.
6. Motor vehicles and spare parts.
7. Petroleum products.
8. Salt.
9. Sugar.

This is just an excerpt found on "nairametrics website" nairametrics.com/once-upon-a-time-the-government-controlled-the-prices-of-these-7-commodities/...............With the failing economy and increase in inflation figure, do y'all think Presidnt buhari can resume this law?
Re: This Nigerian Law Can Force A Fixed Price On Anything You Sell. by Nobody: 5:07pm On Jan 24, 2016
Amazing, it has already applied to PMS
Re: This Nigerian Law Can Force A Fixed Price On Anything You Sell. by Chukzyfcb(m): 5:11pm On Jan 24, 2016
Yea its only active in petrol sector, where PPPRA are responsible for the price fixing, but how about they move to things like Milk? Or even matches that is widely used by everybody
Re: This Nigerian Law Can Force A Fixed Price On Anything You Sell. by juventino: 5:35pm On Jan 24, 2016
Meanwhile in my friends church today.....

(1) (Reply)

Mrs Tinubu Blasts President Buhari! / Senate Uncovers N10bn Hidden In Education Budget / How Iginla Predicted Gov Udom Emmanuel’s Victory At The Supreme Court

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 9
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.