Abayomi Nurain Mumuni, a prominent member of the All Progressives Congress (APC), has urged the Nigerian government to implement price control policies to tackle the ongoing rise in the cost of goods and services. According to Mumuni, this is necessary to address the persistent inflation affecting Nigerians.

In a statement shared by his Media Aide, Rasheed Abubakar, Mumuni pointed out that the government should take steps to regulate prices and support the local production of goods, which will help reduce dependency on imports and lessen inflation. He believes that improving sectors like agriculture, manufacturing, and technology is essential for stabilizing the economy.

Mumuni outlined several strategies to curb inflation:

Building better roads, improving transportation, and ensuring a stable power supply will reduce production costs, which can lead to lower prices for consumers.

By producing more goods locally, Nigeria can decrease its reliance on imports, helping to reduce inflation.

Supporting farmers with subsidies and improving their access to markets can help keep food prices stable, as food is a major factor in inflation.

In some cases, the government may need to temporarily set price limits on essential goods to prevent sharp increases. However, Mumuni warns that this should be done carefully to avoid market disruptions.

By managing foreign reserves wisely and stabilizing the value of the naira, the government can help control inflation and reduce price fluctuations.

Improving trade deals can help ensure better access to goods and reduce the impact of currency changes on prices.

Mumuni advises the government to focus on productivity-enhancing projects instead of populist spending that could make inflation worse.

By implementing these measures, Mumuni believes that the Nigerian government can effectively reduce inflation and help create a more stable economy for the country.