Reps vow legislative action to curb soaring cement prices

The House of Representatives has pledged to enact legislation aimed at curbing the skyrocketing prices of cement across Nigeria.

Speaker of the House, Tajudeen Abass, made this declaration during a public hearing held on Tuesday in Abuja to investigate the persistent surge in cement costs in the country.

Addressing attendees, Speaker Abass emphasized the significance of the public hearing in shedding light on the state of affairs within the cement sector and potentially devising strategies to address the issue.

He expressed concern over the adverse effects of the incessant rise in cement prices, highlighting its detrimental impact on both the construction industry and the nation’s economy.

Highlighting the dire housing deficit in Nigeria, estimated at over 3 million, the speaker stressed the necessity of ensuring affordable cement prices to bridge this gap.

He assured stakeholders of the parliament’s commitment to crafting legislation that fosters industrialization and supports small and medium enterprises.

Committee Chairman on Solid Minerals, Jonathan Gaza, reassured participants that the public hearing aimed not to persecute, but to collaboratively explore solutions within the construction domain.

The committee’s comparative analysis of cement prices in countries like Kenya, India, and Zambia revealed Nigeria’s exceptionally high prices, prompting urgent action to rectify the situation.