CurrentReport Blog In a significant move, the House of Representatives Joint Committee on Solid Minerals, Commerce, Industry, and Special Duties has summoned the Minister for Solid Minerals, Mr. Dele Alake, and leading cement manufacturers including Dangote, BUA, and Ibeto Cements. The summons comes in response to the persistent refusal of cement prices to drop despite federal government intervention.
The Minister and concerned companies are slated to appear before the committee within 14 days, with the Minister scheduled for May 21st and the companies and stakeholders for May 20th. The committee, chaired by Hon. Jonathan Gbwefi Gaza, expressed dismay over the absence of ministerial representation during the summons, emphasizing the importance of their attendance to address the arbitrary increase in cement prices.
Speaker Tajudeen Abbas, represented by Deputy Speaker Hon. Benjamin Kalu, underscored the severity of the issue, stating that the continual rise in cement prices is unacceptable and detrimental to both the built environment and the nation’s economy. With Nigeria facing a staggering housing deficit of up to 16.9 million units, affordable cement prices are crucial for addressing this gap and facilitating infrastructural development.
While external factors like exchange rates have contributed to price increases, the administration’s policies, led by His Excellency Bola Ahmed Tinubu, have shown positive outcomes.
The House of Representatives reaffirmed its commitment to enacting legislation that supports industrialization and SMEs while fostering collaboration between cement manufacturers and end-users to enhance citizens’ quality of life.
