Reps de-list petroleum products from price control

The House of Representatives on Thursday de-listed petroleum products from list of commodities being regulated by Federal Government as enshrined in the Price Control Act.

The House took the decision after considering the recommendations of its committee, which studied the bill to amend the Price Control Act, to provide for concessions and waivers, stiffer penalties and to enforce implementation.

The bill sponsored by Rep. Gabriel Onyeama (APGA Anambra) seeks to amend "the first ‎schedule of the principal Act" by deleting the existing list and substituting it with a new list in the schedule".

Based on the recommendations by the committee of the whole house at plenary, 14 commodities were approved under the new price control legislation.

The commodities are bicycles and spare parts, flour, matches, milk, motorcycles and spare parts, motor vehicles and spare parts, salt, sugar, rice, grains, cereals, electrical/electronic equipment, computers and computer accessories and cement.

The lawmakers also approved insertion of subsection 13(2) which stipulates imposition of two years imprisonment or N200,000 on any person that contravenes any provisions of an order made by the court.