•Desires importation of constructing supplies as stopgap measure
Sunday Aborisade in Abuja
The Senate yesterday resolved to probe the actions of the key cement manufacturing corporations in Nigeria over the sudden enhance within the costs of the product and different constructing supplies within the nation.
The Higher Chamber stated its probe would allow it to discover a answer to the issue. It additionally urged the federal authorities to enable the importation of cement as a stopgap measure.
It consequently mandated the Senator Francis Fadahunsi-led Senate Committee on Industries to conduct an investigation into the actions of cement manufacturing industries working inside Nigeria.
This it said, was to establish whether or not market manipulation or monopolistic observe had been the explanations behind the value hike and report again to Senate in two weeks.
The Crimson Chamber additionally mandated the committee to make sure that cement manufacturing corporations adhere strictly to honest market observe and desist from anti aggressive costs.
The Senate resolutions had been sequel to a degree of order titled: “Have to urgently deal with the rise in cement costs and different constructing supplies in Nigeria “, raised by Senator Lola Ashiru of the All Progressives Congress (APC), Kwara South.
Ashiru who got here underneath Order 42 on “private clarification”, stated that the development trade was very important for infrastructure improvement and financial progress because it closely depends on cement and different constructing supplies for its sustenance.
He expressed fear that the latest pattern of an virtually day by day enhance within the value of the product has severally hampered progress in varied developmental endeavours throughout the nation.
He added that the sudden and stiff value enhance was having a detrimental affect on vital infrastructure, housing and the lawmakers’ personal constituency tasks throughout the nation.
A part of his movement learn: “Cognisant that inexpensive cement and different constructing are indispensable to nationwide improvement, addressing the difficulty in time might be advantageous to the development trade.
“It’s because it should make sure the progress of constituency tasks and strengthen nationwide safety by offering jobs and stability and enhance the livelihood of Nigerians typically,” he stated
He expressed fear that the day by day enhance in cement costs was hampering progress within the development trade, lamenting that cement rose from N5,000 to N15,000 and is having detrimental affect on the development trade
He stated: “Contractors are going through critical issues, resulting in stalling of tasks which is threatening employment of the youths. Excessive youth unemployment is linked to extend in crime.”
