The Joint Committee of the House of Representatives investigating the arbitrary increase in the price of cement has expressed disappointment in the agency for not doing enough to protect the consumers of cement in line with the agency’s Establishment Act.
The committee also issued a final summon to the Cement Manufacturers’ Association of Nigeria for failing to honour its invitation for a second time.
The committee said it is not deterred by the court injunction obtained by the association.
Chairman of the Joint Committee, Jonathan Gaza, gave the final warning to the association and other key stakeholders at resumption of the investigative hearing on Monday at the National Assembly.
The sudden hike in the price of cement has become a source of worry to Nigerians in the last six months. The price of 50kg of the building commodity which was sold around N5,000 till last December rose astronomically by over 100% earlier in the year, attracting government’s intervention.
In February, cement manufacturers agreed to bring down the price of the product to between N7,000 and N8,000 per 50kg depending on the location nationwide but the price of the basic construction material has remain pricey, sparking increase in house rents.