– Former minister of Finance, Olu Falae has warned the federal government against its price control policy
– Falae said putting a price control on farm produce will cause more hardship for the Nigerian government
– He warns that he will lead a protest against the federal government if it goes forward with the policy
Former Minister of Finance, Chief Olu Falae has warned the federal government that the proposed price control will aggravate the suffering of Nigerians especially farmers
Falae said the federal government should allow market forces to determine the prices of food and not for the government to fix prices for the farmers on the farm produce.
Punch reports that Falae made this statement on Thursday, February 23, at a rural development forum, organised by Habitat Interest Enterprises in collaboration with All Farmers Congress of Nigeria in Akure, the Ondo State capital.
Falae said: “The government said recently that they wanted to make price control policy, if they start it, I will be the one to lead a protest against the policy. This is because the policy can never work and It will never work.
“We should allow market forces to determine the prices of food, government should not regulate the prices of farm produces.”
Falae advised that the government should do was to regulate the prices fixed by the manufacturers of farm implements, adding that the government should regulate the prices of petrol, fertilizer, transportation and farm tools.
Meanwhile, the presidential committee on fertiliser initiative says that the federal government is committed to the actualisation of producing one million tonnes of fertilisers in the country.
Thomas Etuh, a member of the committee and National President, Fertilisers Suppliers and Producers Association of Nigeria (FESPAN), made this known in Okpella, Estako East Local Government Area on Wednesday.