Cement: Reps knock Alake, Dangote, BUA, others over failure to honour invitation

Re- schedules summons to May 20, 21

Fthe arbitrary increase in the price of cement by producers of the commodity in the country, the House of Representatives joint committee investigating the increase has ordered the Minister of Solid Minerals Development, Dele Alake, to appear before the committee after failing to appear, yesterday.

The panel also gave them a 14- day ultimatum to Dangote Cement, BUA, Ibeto and other stakeholders to appear before it and clear the air over the hike in cement price.

The order followed the failure of the minister, the companies and others to appear at its investigative hearing yesterday.

The joint committee, consisting of the House Committees on Solid Minerals, Commerce, Industry and Special Duties, was set up by the House to investigate the arbitrary increase in the price of cement in Nigeria by cement manufacturers.

Cement prices have risen by 100 per cent in the last three years to a record N7,000 to N8,000 on the back spiralling inflation in the country. Worried about the failure of the relevant stakeholders to attend its investigative hearing yesterday, the lawmakers directed that Alake should appear on Tuesday, May 21, 2014, while Dangote, BUA, Ibeto and others are to appear on Monday, May 20, 2024. Chairman of the joint committee, who doubles as the Chairman, Committee on Solid Minerals, Jonathan Gefwi, said the failure of the companies to appear explained their insensitivity to the plight of Nigerians.

Gefwi said that a review of cement prices in other countries like Kenya, India and Zambia for 2021 alone showed that Nigeria had the highest price of cement using the official exchange rates for each country.