Reps Summons Dangote, BUA, Others over Soaring Cement Prices

Dangote, BUA, and other cement manufacturers in the country have been summoned by the House of Representatives over what it described as an arbitrary increase in cement prices in the country.

The invitation by the House of Representatives was in accordance to a motion on the need to investigate the Arbitrary increase in the Price of Cement by Manufacturers of Cement in the country

The House also mandated its Committees on Solid Minerals Development, Commerce, Industry and Special Duties to investigate the increment in cement prices by the manufacturers and report back within four weeks for further.

The price of Dangote cement has continued to go up beyond the reach of the average Nigerian despite 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 the product which has led to sharp increase in rent.

According to Yusuf Gagdi, a member representing Kanke, Pakshin Kanam Federal Constituency of Plateau State, the business mafias who benefitted from waver and other incentives were the ones 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.

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.