President Bola Ahmed Tinubu said on Monday that he does not believe in price control and his government would not embark on such to check the cost-of-living crisis in the country.
President Tinubu spoke during his first Presidential Media Chat on Monday.
“I don’t belive in price control,” the President said.
He said that market forces of supply and demand are better suited to stabilise the economy.
The President insisted on the need to focus on improving supply chains and allowing market dynamics to take their course.
“We just continue to supply the market, we work hard to supply the market.”
Nigeria is currently witnessing its worst cost-of-living crisis in a generation, with food prices increasing by over 200 per cent since Mr President assumed office.
Government policies, such as the removal of petrol subsidies and the floating of the naira, made the crisis worse.
