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July 24, 2024

Price Hike: Reps threatens to arrest Dangote Cement Management

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The House of Representatives’ Joint Committee on the arbitrary increase in the price of cement has threatened to arrest the management of Dangote Cement if they fail to appear at its next hearing.

This announcement was made during a public hearing in Abuja on Tuesday, following the company’s absence at the session.

The committee, chaired by Jonathan Gbefwi, issued a 14-day ultimatum on May 7, 2024, for cement manufacturers to present their submissions regarding the rising cement prices in Nigeria.

Despite this, officials from Dangote Cement were notably absent, prompting the committee’s stern warning.

Gbefwi, who represents Karu/Keffi/Kokona Federal Constituency, Nasarawa State, on the platform of the Social Democratic Party, expressed his frustration: “They want to over-profit without any sense of empathy for the citizens that have given them this platform.”

He emphasized that the National Assembly would not tolerate such disregard, stating, “On Dangote, my ruling is simple. The laws have given us the necessary powers but we owe you a duty of care. We are going to give you one more chance. We are going to communicate on a date. Failure to comply with that date, a subpoena will be issued. A warrant of arrest will be given for you to make an appearance before the National Assembly. No single individual is bigger than the parliament of his country. No single Nigerian is bigger than the National Assembly.”

The special panel also mandated the Cement Manufacturers Association of Nigeria and the Central Bank of Nigeria to appear within two weeks to discuss measures to address the high cement prices, which have become unaffordable for many Nigerians amid the country’s economic challenges.

The committee’s aim is to ensure a downward review of cement prices to alleviate the financial burden on Nigerians.

This move reflects the House’s commitment to holding cement manufacturers accountable and advocating for the economic well-being of its citizens.

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