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Representatives threaten arrest of Dangote Cement mgt over price hike

The joint committee of the Home of Representatives trying into the arbitrary value improve of cement on Tuesday threatened to arrest the administration of Dangote Cement if the corporate fails to seem at its subsequent listening to.

Recall that the legislative chamber on Might 7, 2024, gave a 14-day ultimatum to cement producers to seem earlier than the joint committee and make identified their views on the arbitrary improve in cement costs in Nigeria.

The Chairman of the Home Committee on Stable Minerals, Jonathan Gbefwi, ordered a public listening to to research the arbitrary improve within the value of cement in Nigeria by cement producers. The listening to was organised by the Joint Committees on Commerce, Trade, Particular Duties and Stable Minerals of the Home of Representatives in Abuja.

Officers from the cement firm had been absent from Tuesday's listening to, a improvement that didn’t sit effectively with the committee.

The particular panel known as for a discount in cement costs however expressed concern that the price of the product has change into unaffordable for a lot of Nigerians given the present financial state of affairs within the nation.

The Cement Producers Affiliation of Nigeria and the Central Financial institution of Nigeria had been ordered to seem earlier than the court docket inside two weeks to deliberate on the measures wanted to deal with the state of affairs for the good thing about the folks.

In a short speech on the occasion, Gbefwi, who represents Karu/Keffi/Kokona Federal Constituency in Nasarawa State on behalf of the Social Democratic Social gathering, accused cement producers of constructing life troublesome for the plenty. He smiled on the banks with out empathy.

“They need to make an excessive amount of revenue, with none sense of empathy for the residents who gave them this platform.

“As for Dangote, my assertion is straightforward. The legal guidelines have given us the required powers, however we owe you an obligation of care. We’re going to provide you with another probability. We’re going to talk a date.

“Should you fail to satisfy that date, a summons can be issued. A warrant can be issued in your arrest in an effort to seem earlier than the Nationwide Meeting. No particular person is larger than the parliament of his nation. No Nigerian is larger than the Nationwide Meeting,” Jonathan warned.

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