- The House of Representatives Joint Committee issued a 14-day ultimatum to cement stakeholders to clarify recent price surges
- The committee, probing the price hikes, summoned Dangote, BUA, IBETO, and others after they failed to attend the hearing
The House of Representatives Joint Committee has issued a 14-day ultimatum to Dangote Cement, BUA, IBETO, and other stakeholders to appear before them and clarify the recent surge in cement prices across Nigeria.
This request comes after the companies failed to attend the investigative hearing held by the joint committee, comprising the House committees on solid minerals, Commerce, Industry, and Special Duties.
The House established the committee to investigate the arbitrary increase in cement prices by countrywide manufacturers.
The Minister of Solid Minerals Development, Dele Alake, was summoned to appear before the committee after missing the initial hearing.
The joint committee has scheduled the minister’s appearance for Tuesday, May 21, while Dangote, BUA, IBETO, and others are expected to appear on Monday, May 20, 2024.
Expressing dissatisfaction with the companies’ absence, Rep. Jonathan Gaza Gefwi, Chairman of the joint Committee and Chairman of the Committee on Solid Minerals, criticized their disregard for the invitation, highlighting their insensitivity to the plight of Nigerians.
Rep. Gefwi emphasized the disparity in cement prices between Nigeria and other countries like Kenya, India, and Zambia, urging transparency and collaboration to address the issue.
He stressed the importance of public hearings in gathering evidence to guide decision-making, rejecting claims that parliamentary committees lack the authority to summon private entities.
Rep. Ahmed Munir, Chairman of the House Committee on Commerce, underscored that the failure of any invited entity to appear before the committee would reinforce allegations of arbitrary price hikes, further burdening Nigerians and hindering government efforts to address housing deficits.
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