Dangote, Abdulsamad, Others To Appear Before House Of Reps Over Price Of Cement
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The House of Representatives is set to invite top manufacturers Aliko Dangote, Rabiu Abdulsamad, among others, to appear before them for deliberation on ways out of the hardship arising from the high cost of the product.
The House resolution was a sequel to the adoption of a motion titled “Arbitrary increase in the price of cement by manufacturers of cement in Nigeria,” moved by a member representing Karu/Keffi/Kokona Federal Constituency, Nasarawa State, Mr Gaza Gbefwi, during plenary on Wednesday and a member representing Shomolu Federal Constituency, Lagos State, Ademorin Kuye.
Leading the debate at a session presided over by the Speaker, Abbas Tajudeen, Gbefwi argued that cement manufacturers have increased the price of their products by up to 50 per cent leading to sharp hikes in building blocks, the cost of building, and consequently, the price of rent across the country.
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According to him, it is ironic that while the raw materials for the manufacturing of cement, including lime, silica, alumina, iron oxide, and gypsum, are all sourced locally and not affected by exchange rate volatility, the price of cement continues to rise almost every week.
Gbefwi also noted that the factors of production and elements of the cement production flow chart “Are sourced locally and have not changed significantly year-on-year,” stressing that “Cement manufacturers are capitalizing on exchange volatility to arbitrarily increase the price of the product, whose cost of production has not changed significantly since last year.”
According to him, a small but powerful “cement cabal” is unconscionably inflicting hardship on Nigerians “as the prices of rent and associated services have increased.
In his contribution, member representing Kanke/Pankshin/Kanam Federal Constituency, Plateau State, Yusuf Gagdi wondered why Nigerians are being subjected to untold hardship by cement manufacturers, adding that “Nigeria cements are a big market for Niger Republic, Cameroon and other neighbouring countries.”
He said, “Why should Nigerians continue to suffer from incessant increases in the price of cement? We have a duty to rise up and defend the common man. I think it is important we invite the manufacturers to tell this house what is going on because we can’t continue like this.”
On his part, the Deputy Minority Whip of the House, George Ozodinobi, called for the mass importation of cement into the country to force down the price.
