House Moves against Cement Manufacturers, Vows to Checkmate Price Hike

•Summons producers

Adedayo Akinwale in Abuja

The House of Representatives has vowed to leave no stone unturned to put the right laws in place that could help checkmate the avoidable excesses and hike in cement prices as witnessed recently.

The Speaker of the House, Hon. Tajudeen Abass, made this known yesterday, in Abuja at a public hearing on the investigation on the unabated rising prices of cement in Nigeria.

He noted that the event was a fall out of the concern and care the parliament has towards the people whom they are representing and the need to have a transparent engagement with all critical stakeholders in the cement industry especially the manufacturers.

This, the Speaker said, was aimed at informing Nigerians on exactly what was happening within this sector, and possibly come out with resolutions as to how they could navigate through.

Abass added: “To state the fact, the unabated high cost of cement has impacted negatively not only on the built environment but also on the economy, this is obvious because cement is the major component use for building and construction, such as; bridges, dykes, Houses, water works, Dams, Road Construction among others.

“Thus, the dire need to have this public hearing today. It is in public knowledge that the Housing deficit in Nigeria is over three million, therefore for the government and the private sector to close the huge gap the price of cement must be affordable and within reach.”

Abbas stressed that while one might attribute the rise in prices of cement and of course other commodities to the exchange rates, it was commendable that the policies of this administration of the renewed hope mantra, led by Bola Tinubu has started yielding fruits, as Naira has gain remarkable strength to a dollar in the last three weeks.

He stressed that the need to deliberate on the development exhaustively and come up with possible ways to moderate the high price of cement cannot be over emphasised.

Abass stated: “Let me assure you that the parliament is working hard in putting the right legislation to help promote and encourage industrialisation as well as small and medium enterprises in place.

“We are equally open and willing to work hand in hand both with manufacturers and the end users, this, in our belief, is the surest way to improve on the quality of life and standard of living of the citizens.

“We are equally leaving no stone unturned to put the right laws in place that could help checkmate the avoidable excesses that brought us to where we are.”

Earlier, the Chairman of the Committee on Solid Minerals, Hon. Jonathan Gaza, assured that the public hearing was not a witch-hunt but an open discussion with a view to finding lasting solutions to the problem within the built environment.

The committee said its review of cement prices in other countries like Kenya, India and Zambia for 2021, alone showed that Nigeria has the highest price of cement using the official exchange rates for each country.

Gaza, lamented that Nigeria’s price of cement doubled that of India at a difference of 69 per cent; while the price was 29 per cent higher than that in Kenya and 39 per cent  higher in Zambia. 

The committee pointed out that it concern was for all legitimate businesses especially cement production companies in Nigeria to thrive and deliver their objective and services to the people in such a manner that could foster development.

Cement Price Hike: House Gives Dangote, BUA, Others 14 Days Ultimatum to Appear

Meanwhile, the lawmakers yesterday, summoned Dangote Cement, BUA Cement, Lafarge Cement, Asaka Cement and Eagle Cement, to appear before its joint committee over the arbitrary increase  in the price of cement across the country.

To this end, the committee issued a 14-day ultimatum to the cement manufacturers to cause appearance.

At the investigative hearing, five cement manufacturers in Nigeria including Dangote Cement, BUA Cement, Lafarge Cement, Asaka Cement and Eagle Cement failed to appear and did not send any representative to brief the lawmakers.

Against this background, the chairman of the Committee on Solid Minerals, Hon. Gaza Gbefwi was left with no option but to issue the summon.

While ruling on the matter, Gbefwi warned that the House and the National Assembly were not in receipt of any court order restraining it from inviting anyone, hence those summoned must appear before the legislative panel.