The authorities of the University of Lagos, UNILAG, have forced down the price of Indomie and also fixed other commodity prices on the campus, following days of students’ protest.
The school authorities stepped in after students protested hike in commodity prices on campus, forcing all shops within the school premises to shut down.
Indomie [Hungry Man pack] which sold for N120 is now to sell at N90. Pencils which sold for N30 before the protest will now sell for N10.
The prices were forced down and pegged following series of meeting between students leaders, the school management and representatives of sellers of goods and services on campus.
The commodity vendors admitted exploiting students and agreed to the new price control mechanism.
Under the new mechanism, one spoonful of cooked rice will now sell for not more than N40, while three spoons, not above N100.
Sale of commodities grounded
With the enforcement of the new prices, normalcy might return to the institution that has been bereft of commercial activity.
The students have had to go out of the school premise to purchase any item, including basic items such as food and water.
Scores of students were seen at various confectioneries, restaurants and bukas, outside the school premises, with the business owners taking advantage of the situation and shooting up their prices.
Ebuka Ekeanyanwu, a 500 level student of the Faculty of Law, said commercial activities will resume on Wednesday since the school authorities intervened.
He lamented the high prices of items sourced from outside the school; but insists that he is consoled that the new prices have been fixed to the benefit of the student.