The House of Representatives has summoned Dangote, his counterpart BUA and other major cement manufacturers in the country over what it described as an arbitrary hike in the prices of cement in the country.
This was decided in respect of a motion on the need to investigate the Arbitrary increase in the Price of Cement by Manufacturers of Cement in the country was raised on the floor of the house on Wednesday 13th March
Recall that the price of cement has skyrocketed beyond the reach of the average Nigerian thereby making it very difficult for the common man to own an accommodation as well as leading to the sharp increase in rent across the country.
Debating on the floor of the hallo chambers the members worried that a commodity in which its raw materials are being sourced locally would become unaffordable for its people.
The 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 a sharp increase in rent.
Yusuf Gagdi, a member representing Kanke, Pakshin Kanam Federal Constituency of Plateau State, said the business mafias who benefitted from waver and other incentives were the ones who smuggled cement 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 discourage the investors.
Other members also showed their concerns and feared that if things continue in this manner, a civil servant may not be able to build his house before retirement after the mandated 35 years of serving the nation.
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 action.
