The House of Representatives has assured that it would put legislation in place to checkmate the excessive hike in the price of cement.
The Speaker of the House Tajudeen Abass stated this on Tuesday in Abuja at a public hearing on the investigation of the unabated rising cost 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 coming out with resolutions as to how they could navigate through.
The Speaker lamented that the unabated high cost of cement has impacted negatively not only on the construction sector but also on the economy.
Abbas said, ”It is in public knowledge that the housing deficit in Nigeria is over 3 million, saying 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 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, Jonathan Gaza assured that the public hearing was not a witch-hunt but an open discussion to find 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.
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