By Mercy Aikoye
Following the arbitrary increase in the price of cement by producers of the commodity in Nigeria, the House of Representatives Joint Committee investigating the increase has summoned the Minister of Solid Minerals Development, Mr. Dele Alake, to appear unfailingly before the committee after failing to appear on Tuesday.
The panel also gave a 14-day ultimatum to Dangote Cement, BUA, IBETO and other stakeholders to come and clear the air over the increases in cement price in the country.
The summons followed the failure of the minister, companies and others to appear at its investigative hearing on Tuesday.
The joint committee, consisting of the House committees on Solid Minerals, Commerce, Industry and Special Duties, was set up by the House to investigate the arbitrary increases in the price of cement in Nigeria by cement manufacturers.
The price of cement has risen by 100 per cent in the last three years to a record high of N7,000 – N8000 on the back of spiralling inflation in the country.
Worried about the failure of the relevant stakeholders to attend it’s investigative hearing on Tuesday, the lawmakers directed that Alake should appear on Tuesday, May 21 while Dangote, BUA, IBETO and others are to appear on Monday, May 20, 2024.
Chairman of the joint Committee who doubles as the Chairman, Committee on Solid Minerals, Rep. Jonathan Gefwi, said the failure of the companies to appear explains their insensitivity to the plight of Nigerians.
Gefwi said that a review of cement prices in other countries like Kenya, India and Zambia for 2021 alone showed that Nigeria had the highest price of cement using the official exchange rates for each country.
He said, “Nigeria’s price of cement doubles that of India at a difference of 69%, similarly the price is 29% higher than that in Kenya and 39% higher in Zambia. Hence the need for us to come together and find out why. In order to bring succour to our citizens while protecting investors alike.
On his part, Speaker Tajudeen Abass, lamented that the unabated high cost of cement has impacted negatively not only on the built environment but also on the economy.
Abass, represented by the Deputy Speaker, Hon. Benjamin Kalu, said the revelation that Nigeria has over three million housing deficit makes it necessary for the private sector to close the huge gap, saying the price of cement must be affordable and within reach.
