IPOB gives reason for soaring price of cement, urges quick action from Tinubu
A call has gone to President Bola Ahmed Tinubu to lift the ban on Ibeto cement and reduce the cost of cement in the country.
The Indigenous People of Biafra, IPOB, made this known in a statement by its spokesperson, Emma Powerful on Friday morning.
The group explained that BUA and Dangote cement factories have been favoured by the Nigerian government, stressing that Ibeto group was selling cement at an affordable rate due to healthy competition among the producers.
The group said: “Back then, prices of cement and other building materials were very affordable because of competition. Even civil and public servants with low minimum wages were able to build houses.
“But as soon as Ibeto and others were pushed out of business the price of cement started soaring out of the reach of the common man. Currently, a bag of cement is sold for almost N12,000, while 12mm of iron rod is sold at N13,000.
“These prices are outrageous because capitalists have the backings of the government through monopoly to reap people off. If care is not taken, many Nigerians will become homeless in the next five (5) years, while the capitalists will keep making more money.
“How can a country with over 200 million people allow only two companies to monopolize cement business in Nigeria? Since Dangote and BUA can’t help reduce the price of cement and other building materials, someone like Ibeto group with the capacity to bring down the price of cement should be given back his license to enter back into the Nigerian building materials market.
“If Ahmed Bola Tinubu, the President of Nigeria, is interested in reducing the strangling price of cement and other building materials, he should contact Ibeto and other patriotic company owners of building materials for help immediately. Ibeto group has the capability to crash the price of cement and other building materials in Nigeria. President Tinubu should lift the ban on Ibeto cement so that he can freely compete with Dangote and BUA cement.
“In conclusion, if President Bola Almed Tinubu is interested in curtailing the soaring price of cement, he should reverse the policy of Olusegun Obasanjo and bring back Ibeto cement into the Nigerian market.”
