Dangote, BUA, Lafarge, and Others Called Before House Representatives on Cement Price Increase
The House of Representatives in Nigeria has issued a 14-day ultimatum to major cement manufacturers, including Dangote Cement, Bua Cement, Lafarge Cement, Asaka Cement, and Eagle Cement. They must appear before a joint committee and provide submissions regarding the arbitrary increase in cement prices.
This summon was given by Rep. Gaza Gbefwi, the Chairman of the House Committee on Solid Minerals, during a public hearing organized by the House Joint Committees on Commerce, Industry, Special Duties, and Solid Minerals in Abuja. The investigation into the arbitrary increase in cement prices was initiated following a motion moved by the House on March 13, 2024.
Despite the summons, the cement manufacturers failed to appear or send representatives to make submissions. Rep. Gbefwi emphasized that the House and National Assembly have not received any court order restraining them from conducting the investigation.
In response to the cement manufacturers’ non-appearance, Rep. Gbefwi warned that the House will utilize its powers to ensure that Nigerians are not exploited. He stressed the importance of affordable cement in the construction sector, highlighting the struggles faced by many Nigerians in securing decent housing.
The Deputy Speaker of the House, Rep. Benjamin Kalu, reiterated the House’s commitment to establishing legislation that supports industrialization and small and medium enterprises.
The ultimatum given to the cement manufacturers is intended to compel them to participate in the investigation and provide necessary information to address concerns about the arbitrary increase in cement prices in Nigeria.
