The Nigerian House of Representatives has decided to call upon major cement manufacturers like Dangote Cement and BUA Cement to discuss the steep rise in cement prices. The resolution to summon the manufacturers was made during a plenary session following a motion titled “Arbitrary Increase in the Price of Cement by Manufacturers of Cement in Nigeria.”
The motion, brought forward by representatives from Nasarawa State and Lagos State, highlighted the significant increase in cement prices by approximately 50%. This surge has resulted in inflated prices for building materials and construction, consequently affecting rental rates across the country. Despite the fact that the prices of locally sourced raw materials for cement production remain stable, the cost of cement continues to escalate frequently, prompting concerns among lawmakers.
During the debate, suggestions were made to explore options such as importing cement on a large scale to drive down prices. Lawmakers emphasized the need to address the price hikes to alleviate financial burdens on citizens and facilitate smoother progress in construction projects.
Source: Punch