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HOUSE OF REPRESENTATIVES SUMMONS DANGOTE, BUA, OTHERS OVER INCREASE IN CEMENT PRICE     

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HOUSE OF REPRESENTATIVES SUMMONS DANGOTE, BUA, OTHERS OVER INCREASE IN CEMENT PRICE                                                                    13-03-24

By Sadiq Aminu                                                     The Cement Manufacturers to appear before the House of Representatives to explain to Nigerians the cause of arbitrary hike in the price of Cement in Nigeria.
The invitation by the green Chamber was sequel to a motion on the need to investigate the Arbitrary increase in the Price of Cement by Manufacturers of Cement in the country.
Shelter is very important need of every human being and cement is one of the key components to achieving this shelter.
The price of Cement has got many Nigerians talking, particularly the downtroddens who are struggling for shelter.
Cement Price has continued to go up beyond the reach of average Nigerian despite the fact that most of the raw materials use for the production of the product are sourced locally.
The price of Cement has increased about six times in the last three months, skyrocketing from four thousand naira to about ten thousand naira.
Worried by this, the House in a motion sponsored by Jonathan Gaza, a member representing Karu, Keffi Kokona, Federal Constituency of Nasarawa State stressed the need to investigate the increase in the price of Cement which has led to sharp increase in rent and buildings
According to Yusuf Gagdi, a member representing Kankye, Pankshin Kanam Federal Constituency of Plateau State, the business mafias who benefitted from waiver and other incentives were the one who smuggled cements out of the country at the detriment of the citizens
The member representing Aguata Federal Constituency of Anambra State Mr. Okafor Ifeanyi said the monopoly in the sector has been responsible for the arbitrary increase in the price of Cement.
In his minority contribution, the member representing Jibia Kaita Federal Constituency of Katsina State, Sada Soli cautioned that the Price of Cement is determined by market forces and any attempt to regulate it may discouraged the investors
Adopting the motion the House mandated the Committees on Solid Minerals Development, Commerce, Industry and Special Duties to investigate Arbitrary increase in the Price of Cement by Manufacturers and report back within four weeks for further legislative action.

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