Extend Gas Concession To Cement Manufacturers- Anite

The Minister of Industry, Trade and Investment, Doris Nkiruka Uzoka-Anite, has appealed that the gas concession given to Electricity companies be extended to cement manufacturers to address the recent price increase.

The Minster who was represented by the Permanent Secretary, Ambassador Nura Rimi stated this at resumed investigative hearing by the house of Representives joint committees on Solid Minerals, Industry, Commerce and Special duties probing the hike in price of cement.

The Minister identified challenges facing cement manufacturers, including high gas cost, import duty on spare parts, poor road networks, foreign exchange, and smuggling.

She noted that cement retail prices should not exceed N7,000 to N8,000 per 50kg bag, depending on the location.

According to her, government advised manufacturers to set up a price monitoring mechanism, and they have agreed to comply and sanction erring distributors or retailers.

The Lawmakers, however, were unsatisfied with the submissions, questioning why cement manufacturers should complain about roads when their activities contributed to road damage.

They also wondered why foreign exchange was an issue when most materials were sourced locally.

The committee chairman, Gaza Jonathan Gbewfi, directed the Ministry to provide minutes from their meeting with cement manufacturers, a comprehensive report on pioneer status and incentives issued to cement companies.

Oduyemi Odumade, Edited By Grace Namiji