
Emmanuel Onuh Abuja
The House of Representatives has summoned Dangote, BUA and other cement manufactures in the country over indiscriminate increase in the prices of cement in the country.
The House also in her resolution mandated its Committees on Solid Minerals Development, Commerce, Industry and Special Duties to investigate the increment in prices of cement by the manufacturers and report back within four weeks for further legislative action.
The summon followed the adoption of a motion moved by Hon. Gaza Jonathan Gbefwi (SDP, Nasarawa) and Hon. Ademorin kuye (APC, Lagos) at plenary on Wednesday.
MOVING THE MOTION HON JONATHAN NOTED THAT THE MANUFACTURERS OF CEMENT HAVE INCREASED THE PRICE OF THEIR PRODUCTS BY MORE THAN 50 PER CENT, LEADING TO SHARP INCREASE IN BUILDING BLOCKS, THE COST OF BUILDING, AND CONSEQUENTLY, HOUSE RENTS IN NIGERIA
He also noted that the raw materials for the manufacturing of cement, which include lime, silica, alumina, iron oxide, and gypsum, are all sourced locally and not affected by foreign exchange rate.
HE EXPRESSED CONCERN THAT CEMENT MANUFACTURERS ARE CAPITALISING ON FOREIGN EXCHANGE VOLATILITY TO INDISCRIMINATELY INCREASING THE PRICES OF THE PRODUCT, WHOSE COSTS OF PRODUCTION REMAINED UNCHANGED SIGNIFICANTLY SINCE LAST YEAR.
HON JONATHAN SAID “THE INCREASE IS A DIRECT AFFRONT AND SABOTAGE OF PRESIDENT BOLA AHMED TINUBU’S ADMINISTRATION’S EFFORT TO BRING COMFORT TO THE POPULACE AND SHOULD BE RESOLVED IMMEDIATELY”
SPEAKING IN SUPPORT OF THE MOTION, HON. YUSUF GAGDI (APC, PLATEAU) NOTED THAT WITH ALL THE INTERVENTIONS BY THE FEDERAL GOVERNMENT TO MAKE BUSINESS EASY FOR CEMENT MANUFACTURERS, THE HIKE IN PRICE WAS UNNECESSARY.
ON HIS PART, HON. BABAJIMI BENSON (APC, LAGOS) SAID THE HIKE HAS TO DO WITH PRODUCTION COST, BUT CALLED FOR A SECTORAL DEBATE TO, “HEAR FROM THEM. LET’S INVITE THE MANUFACTURERS WITH RELEVANT COMMITTEES TO ASK QUESTIONS.”
ON HIS PART , HON. SADA SOLI (APC, KATSINA) CALLED ON THE HOUSE TO UNDERSTAND WITH THE CEMENT MANUFACTURES, ADDING THAT THE COST OF PRODUCTION IS A MAJOR FACTOR.
HE FURTHER SAID “LET US UNDERSTAND IF IT HAS TO DO WITH COST OF PRODUCTION. THEY DO NOT RELY ON NATIONAL GRID, THEY GENERATE THEIR OWN POWER. LET US BE COMPASSIONATE WHEN IT COMES TO ISSUES OF NATIONAL ECONOMY. THESE PEOPLE CAN WITHDRAW THEIR INVESTMENTS,”