IPOB urges Tinubu to deregulate cement business to reduce commodity cost
CHIGOZIE AMADI
Indigenous People of Biafra, (IPOB), Wednesday, demanded that President Bola Tinubu’s government should deregulate the cement business to reduce cost of the commodity.
Speaking through its spokesperson, Emma Powerful, IPOB stated that such a move would break the monopoly in Cement business which is responsible for high cost of cement in Nigeria.
“The APC Government should stop State induced hardship on the citizens. IPOB in the time past has called on President Tinubu’s Government to unbundle the monopoly in Cement business which is currently monopolized by Fulani cartels namely Dangote and BUA cements.
” No serious government watches helplessly while her citizens groan under economic hardships while the capitalists make billions. Serious Nations prioritize affordable housing by ensuring that building materials are accessible and affordable to the citizens. One of the ways to make building materials affordable is to discourage any form of monopoly.
” A liberalized economy and market will allow competition that will attract investments resulting in the increase of supply ahead of demand. Such competition in the long run provides consumers with alternatives at the reduced prices. The Tinubu government must not allow the continuation of the monopolistic attitudes of the Fulani capitalists and their entitlement mentality as if Nigeria belongs to them.
“Allowing the Fulani capitalists to continue reaping the citizens off with high cost of cement is not only wicked but cowardly. Just like Tinubu’s Government deregulated the Power Sector, every other sector particularly cement production and distribution should also be deregulated. Both old and new entrants into the cement and building materials should be allowed to compete with the existing monopolists.
“The competent Cement companies like Ibeto Group that their licenses were illegally suspended should be reinstated particularly now the two capitalists are claiming the impossibility in cement price reduction. Ibeto Group has the capacity and the logistics to crash the price of cement and make it affordable to an average Nigerian builder.
“How could APC government headed by president Ahmed Bola Tinubu allow cement industries to increase the price of cement to the price of 7,500 per bag while other countries in West Africa are as low as N3,500 per bag. Tinubu you must look into this and proof yourself innocent on this economic hardship ravaging the country.
“The Federal Government of Nigeria led by Ahmed Bola Tinubu should reinstate Ibeto Group’s cement license and allow him to compete in the cement market. The only reason that Ibeto Group cement license was suspended is because he is an Igbo businessman. The Nigeria Government must understand that only Igbo businessmen can compete and make the prices of items affordable to all” .
