This Act establish six bodies corporate (referred to collectively as "Commodity Boards"): (a) the Nigerian Cocoa Board; (b) the Nigerian Groundnut Board; (c) the Nigerian Cotton Board; (d) the Nigerian Palm Produce Board; (e) the Nigerian Rubber Board; (f) the Nigerian Grains Board. These corporations shall deal with such commodities and shall have such powers and exercise such functions as are specified in this Act. The Act also provides for the establishment of a Technical Committee on Producer Prices. It shall be the duty of each Commodity Board: (a) to secure the most favourable arrangements for the purchase of the relevant commodity and subsequent sale thereof to meet domestic requirements; (b) to purchase all relevant commodities which are offered for sale to the Board and which conform with the grades and standards of quality prescribed under any enactment; and (c) to promote the development and the rehabilitation of the producing areas generally and in particular to ensure that adequate supplies of fertilizers and improved seedlings and other requisite inputs are made available to promote the benefit and prosperity of the producers. The Act stipulates that any person who engages in industrial processing of any commodity to which this Act applies: (a) may purchase the relevant commodity at a price not less than that fixed from time to time by the Price Fixing Authority; and (b) as a primary producer of such commodity, shall not be under any obligation to sell such commodity to the Board concerned.
Nigeria · 1977-01-01