in

House Calls Out Cement Manufacturers, Demands Answers on Price Hike

Nigeria’s House of Representatives is flexing its muscle over the rising cost of cement. A joint committee has summoned major cement producers, including Dangote Cement, BUA Cement, and Lafarge Ashaka, to appear before them within 14 days. The manufacturers are expected to explain the reasons behind the recent surge in cement prices.

The committee chairman, Hon. Jonathan Gaza Gbefwi, expressed concern about the significant price increase, highlighting the disparity between Nigeria and other African countries. He pointed out that cement is a crucial material for construction, and its affordability directly impacts the nation’s housing deficit.

This move comes amidst growing public frustration over the rising cost of living. Cement is a vital component in building projects, and its price hike puts a strain on individuals and businesses alike. The House committee aims to understand the justification behind the price increase and explore potential solutions to ensure cement remains accessible for Nigerians.

The industry’s perspective is yet to be heard. The 14-day window provides an opportunity for BUA, Dangote, Lafarge Ashaka, and other cement manufacturers to present their arguments to the committee. Whether they can justify the price hike or face potential consequences from the House remains to be seen. This development is a positive step towards price transparency and ensuring a stable supply of cement for Nigeria’s construction sector.

Report

What do you think?

Long Beach Resident’s Petition Bans Short-Term Rentals in Neighborhood

Gulf Sets Sights on 130 Million Tourists by 2030: Arabian Travel Market Focuses on Boom