Senate investigates sharp increase in cement prices

• The Senate plans to investigate Nigeria’s rising cement prices.

•  Sen. Lola Ashiru raised concerns and suggested examining cement manufacturers’ practices.

• Ashiru emphasized the importance of fair market practices.

• Rising prices hinder national development efforts.

• Ministers Umahi and the Minister of Housing met with cement manufacturers to address cost reduction strategies.

• A committee will prepare recommendations for the Federal Executive Council’s consideration.

NAIRA METRICS

The Senate plans to investigate the recent sharp increase in cement prices in Nigeria.  

This decision came after Deputy Senate Leader, Sen. Lola Ashiru, raised concerns about the rising costs of cement and other building materials during a session on Wednesday.  

Ashiru suggested that the Senate’s Committee on Industries should examine the practices of cement manufacturers to determine the cause of the price hikes.