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Reps Decry Increase In Cement Price, Gives Dangote, BUA, Others 14-Day Deadline

Reps has demanded explanations from major cement companies, including Dangote Cement and Lafarge Cement, regarding the recent surge in cement prices, giving them a 14-day ultimatum…

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Reps Decry Increase In Cement Price, Gives Dangote, BUA, Others 14-Day Deadline
Bags of cement

Reps has demanded explanations from major cement companies, including Dangote Cement and Lafarge Cement, regarding the recent surge in cement prices, giving them a 14-day ultimatum to appear before the Parliament.

Deputy Speaker Hon. Benjamin Kalu emphasized the need for collaboration to address the adverse effects of price hikes on housing development and the economy, underscoring the Parliament’s commitment to enacting legislation for lasting solutions.

The House of Representatives has given a 14-day ultimatum to major cement companies, including Dangote Cement, BUA Cement, and Lafarge Cement, to address the recent surge in cement prices nationwide.

VerseNews reports that the summons was made during a public hearing in Abuja, chaired by Hon. Gaza Gbefwi, aimed at investigating the soaring cost of cement across Nigeria.

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Despite the House’s efforts to address citizens’ concerns, none of the major cement manufacturers showed up or sent representatives to clarify the situation.

Hon. Gbefwi emphasized that the Parliament, bound by its duty to safeguard Nigerians’ interests, will take necessary actions if the companies fail to comply.

Deputy Speaker Hon. Benjamin Kalu highlighted the adverse effects of rising cement prices on housing development and the economy. He stressed the need for collaboration between cement producers and consumers to find lasting solutions.

Additionally, he expressed the Parliament’s commitment to enacting legislation to prevent future price hikes and improve living standards.

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This call for accountability comes at a time when the affordability of housing is a pressing issue in Nigeria, with many struggling to find decent accommodation.

The Parliament’s determination to address this challenge underscores its dedication to serving the interests of the Nigerian people.

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