Representatives Summons BUA, Dangote, and Others Regarding Increasing Cement Hikes

The Committees on Solid Minerals Development, Commerce, Industry, and Special Duties of the House of Representatives have been directed to look into the country's cement manufacturers, such as Dangote Cement and BUA Cement, for their arbitrary price increases.

This followed a motion by a lawmaker, Jonathan Gaza.

Nearly all regions in the country now charge N10,000 for a 50kg bag of cement, which is over 100% more than what it cost just three months ago at N5,000.

Nigerian cement manufacturers met with government delegates in February and agreed to decrease the product's price to between N7,000 and N8,000 per 50 kg, depending on the region; nonetheless, the price was still N10,000 across the majority of the country.

Therefore, the House decided on Wednesday that the nation's cement manufacturers should be called before committees for using exchange currency volatility to raise prices arbitrarily for a commodity whose production costs have not moved much since last year.

Meanwhile, the House demanded that President Bola Tinubu reinstate the National Social Investment Program, which had been put on hold because of management issues.