Cement: Reps knock Alake, Dangote, BUA, others over failure to honour invitation
08 May 2024 |
3:05 am
Following the arbitrary increase in the price of cement by producers of the commodity in the country, the House of Representatives joint committee investigating the increase has ordered the Minister of Solid Minerals Development, Dele Alake
Dr Dele Alake. Photo:Twitter
Re-schedules summons to May 20, 21
Following the arbitrary increase in the price of cement by producers of the commodity in the country, the House of Representatives joint committee investigating the increase has ordered the Minister of Solid Minerals Development, Dele Alake, to appear before the committee after failing to appear, yesterday.
The panel also gave them a 14-day ultimatum to Dangote Cement, BUA, Ibeto and other stakeholders to appear before it and clear the air over the hike in cement price.
The order followed the failure of the minister, the companies and others to appear at its investigative hearing yesterday. The joint committee, consisting of the House Committees on Solid Minerals, Commerce, Industry and Special Duties, was set up by the House to investigate the arbitrary increase in the price of cement in Nigeria by cement manufacturers.
Cement prices have risen by 100 per cent in the last three years to a record N7,000 to N8,000 on the back spiralling inflation in the country. Worried about the failure of the relevant stakeholders to attend its investigative hearing yesterday, the lawmakers directed that Alake should appear on Tuesday, May 21, 2014, while Dangote, BUA, Ibeto and others are to appear on Monday, May 20, 2024.
Chairman of the joint committee, who doubles as the Chairman, Committee on Solid Minerals, Jonathan Gefwi, said the failure of the companies to appear explained their insensitivity to the plight of Nigerians.
Gefwi said that a review of cement prices in other countries like Kenya, India and Zambia for 2021 alone showed that Nigeria had the highest price of cement using the official exchange rates for each country.
He emphasised the importance of the public hearing and the need to de-emphasise the notion created by some companies relevant to the investigation that committees of parliament had no powers to invite private outfits.
On his part, Speaker Tajudeen Abbas lamented that the unabated high cost of cement has impacted negatively not only on the built environment but also on the economy.
Abbas, represented by Deputy Speaker, Benjamin Kalu, said the revelation that Nigeria has over three million housing deficits makes it necessary for the private sector to close the huge gap, saying the price of cement must be affordable and within reach.
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