The manufacturers are to appear before the entire House to brief the lawmakers on the 'arbitrary increase in cement price."
The
The summon followed a motion jointly moved by Gaza Gbefwi (SDP, Nasarawa) and Ademorin Kuye (APC,
The manufacturers are to appear before the entire House to brief the lawmakers on the 'arbitrary increase in cement price'.
The motion....
Moving the motion, Mr Gbefwi said there is no reason for price increment because most of the input used for the manufacturing of cement, like lime, silica, alumina, iron oxide, and gypsum -- are all sourced locally and not affected by exchange rate volatility.
The lawmaker claimed that all factors of production and "elements of the cement production flow chart are also sourced locally and have not changed significantly year-on-year".
He said cement producers are "capitalising on exchange volatility to arbitrarily increase the price of the product, whose cost of production has not changed significantly since last year," adding that "the cement cabal is unconscionably inflicting hardship on Nigerians as the prices of rent and associated services have increased."
"The increase is a direct affront and sabotage of President
Speaking in support of the motion, Aliyu Madaki (NNPP,
He added, "We must not allow few individuals to control the economy."
Also speaking in support of the motion,
Consequently, the House mandated the Committees on
The lawmakers voted overwhelmingly for the adoption of the motion when it was put to voice vote by Speaker
However, the House has yet to schedule a date for their appearance.
Background
In the past couple of months, the price of cement has continued to rise across the country, selling for as much as N13,000 in some states.
Two weeks ago, major cement manufacturers in
The resolution was reached following a meeting between the Minister of Works,
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