Reps will summon Dangote, BUA, and others over rising cement prices.

House Committees on Solid Minerals Development, Commerce, Industry, and Special Duties are looking into the cement producers’ arbitrary price hikes, including BUA Cement and Dangote Cement.

Jonathan Gaza, a politician, had previously moved for this to happen.

In most regions of the country, a 50-kg bag of cement is being marketed for N10,000, a 100% increase from its starting price of N5,000 in the past three months.

In February, cement producers in Nigeria met with government officials and agreed to lower the price of their product to N7,000 to N8,000 per 50 kg, depending on the region of the country. However, the price remained at N10,000 nationally.

For this reason, the House decided on Wednesday that the relevant committees should investigate allegations that cement producers in the nation have artificially raised prices by taking advantage of fluctuations in the value of the currency, even though their production costs have remained relatively unchanged since last year.

Meanwhile, following President Bola Tinubu’s decision to stop the National Social Investment Programme owing to irregularities surrounding its administration, the House has demanded that it be resumed.