“14-Day Ultimatum Issued to Dangote, Bua, Lafarge, and Others to Address Cement Price Surge”


House Summons Cement Manufacturers Over Price Hike

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The House of Representatives has issued a 14-day ultimatum to major cement manufacturers, including Dangote Cement, Bua Cement, and Lafarge Cement, demanding their appearance before a joint committee to address the arbitrary increase in cement prices across Nigeria.

The summon comes after the manufacturers failed to attend a public hearing aimed at investigating the surge in cement prices, despite previous motions by the House.

Chairman of the House Committee on Solid Minerals, Rep. Gaza Gbefwi, emphasized the importance of the inquiry, stating that the absence of the manufacturers does not exempt them from accountability.

He warned of potential legislative actions if the companies fail to comply within the given timeframe.

Deputy Speaker Rep. Benjamin Kalu reiterated the House’s commitment to fostering dialogue with stakeholders in the cement industry to address the adverse effects of price hikes.

He emphasized the critical role of affordable cement prices in bridging Nigeria’s housing deficit and supporting economic growth.

The hearing aims to explore the factors contributing to the price increases and to collaborate on solutions to mitigate the impact on consumers and the economy.

Representatives from various ministries, organizations, and industry associations are expected to participate in the discussions to ensure a comprehensive examination of the issue.

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