The House of Representatives Joint Committee has given a 14-day ultimatum to Dangote Cement, BUA, IBETO, and other stakeholders to appear before it to explain the recent increase in cement prices in the country.
This follows their failure to appear at the committee’s investigative hearing on Tuesday, News About Nigeria reports.
The joint committee, comprising the House committees on solid minerals, commerce, industry, and special duties, was set up to investigate the arbitrary increase in cement prices by cement manufacturers.
The committee has also summoned the Minister of Solid Minerals Development, Dele Alake, to appear before it on Tuesday, May 21, while the companies are expected to appear on Monday, May 20, 2024.
Chairman of the joint committee, Rep. Jonathan Gaza Gefwi, expressed disappointment at the companies’ failure to appear, stating that their actions showed insensitivity to the plight of Nigerians. He stressed that the committee’s objective is to find out why cement prices in Nigeria are higher than in other countries like Kenya, India, and Zambia.
Rep. Gefwi noted that a review of cement prices in these countries in 2021 showed that Nigeria had the highest price, with a difference of 69% compared to India, 29% higher than Kenya, and 39% higher than Zambia.
He said, “Our concern is 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 can foster development”.
The joint committee chairman clarified that the committees of parliament have the power to invite private outfits, contrary to claims by some companies.
He cited Section 88(2)(b) of the 1999 Constitution as amended, which empowers the committees to investigate and summon any person to extract evidence on any matter that affects the citizens.
Rep. Ahmed Munir, Chairman of the House Committee on Commerce, warned that failure to appear before the joint committee would suggest that the rise in cement price was arbitrary and intended to subject Nigerians to hardship and undermine government efforts to address the housing deficit in the country.
The price of cement sold for as much as N13,000 in some states within the country.
Recall that in February, major cement manufacturers including Dangote, BUA and Lafarge reached an agreement with the federal government to peg the price of a bag of cement between N7,000 and N8,000.
