Reps To Summon Dangote, BUA Over Rising Cost Of Cement Prices

The House of Representatives has mandated its Committees on Solid Minerals Development, Commerce, Industry and Special Duties to investigate the arbitrary hike in the price of cement by manufacturers in the country like Dangote Cement and BUA Cement.

This followed a motion by a lawmaker, Jonathan Gaza.

A 50kg bag of cement is currently sold for N10,000 in several parts of the country, about 100% hike from its initial price of N5,000 in the last three months.

The House, therefore on Wednesday, resolved that the committees should summon cement manufacturers in the country, for capitalising on exchange rate volatility to arbitrarily increase the price of the product, whose cost of production has not changed significantly since last year.