The House of Representatives has said that it would put right laws in place that could help checkmate the avoidable excesses and hike in cement prices.
It lamented that the unabated high cost of cement has impacted negatively not only on the built environment but also on the economy.
The Speaker of the House Hon. Tajudeen Abass stated this on Tuesday in Abuja at a public hearing on the investigation on the unabated rising prices of cement in Nigeria.
He noted that the public hearing was aimed at informing Nigerians on exactly what is happening within this sector, and possibly come out with resolutions as to how they could navigate through.
Abass stated: “Thus, the dire need to have this public hearing today. It is in public knowledge that the Housing deficit in Nigeria is over 3 million, therefore for the government and the private sector to close the huge gap the price of cement must be affordable and within reach.”
“Let me assure you that the parliament is working hard in putting the right legislation to help promote and encourage industrialisation as well as small and medium enterprises in place.
“We are equally open and willing to work hand in hand both with manufacturers and the end users, this, in our belief, is the surest way to improve on the quality of life and standard of living of the citizens.
“We are equally leaving no stone unturned to put the right laws in place that could help checkmate the avoidable excesses that brought us to where we are.”
Earlier, the Chairman of the Committee on Solid Minerals, Hon. Jonathan Gaza assured that the public hearing was not a witch-hunt but an open discussion with a view to finding lasting solutions to the problem within the built environment.
The committee said its review of cement prices in other countries like Kenya, India and Zambia for 2021 alone showed that Nigeria has the highest price of cement using the official exchange rates for each country.
He lamented that Nigeria’s price of cement doubled that of India at a difference of 69 per cent; while the price is 29 per cent higher than that in Kenya and 39 per cent higher in Zambia.