The Federal Government of Nigeria has been called upon to foster healthy competition in business among Nigerians and dismantle monopolies for the well-being of the citizenry.
The member representing Nnewi North Constituency at the Anambra State House of Assembly, Honourable Augustine Ike, emphasized this need while addressing the alarming hike in prices and inflation affecting essential goods like cement.
Expressing concern over the prevailing system of dangerous monopolies, where businesses are controlled by a select few individuals, Honourable Ike highlighted the dire consequences for ordinary Nigerians who struggle to afford basic necessities, with food becoming increasingly scarce.
Pointing to the recent surge in petrol prices exacerbating the situation, Honourable Ike called for the Federal Government to open up borders and markets for importation, and to distribute licenses more equitably.
He stressed that monopolistic practices have perpetuated hunger and deprivation among Nigerians.
Moreover, he criticized the concentration of industries like cement and refinery ownership in the hands of a single entity, emphasizing the need for policies that prioritize the welfare of the citizens in a densely populated country like Nigeria.
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