The Indigenous People of Biafra (IPOB) has recently voiced a pressing concern regarding the cement industry in Nigeria, urging President Bola Tinubu’ s administration to take action towards breaking the monopoly within the sector. In a statement released by its Media and Publicity Secretary, Emma Powerful, IPOB highlighted the detrimental impact of the current monopolistic control, particularly on the pricing of cement products in the country.
Powerful pointed out that the dominance of Dangote Cement Plc and BUA Cement in the industry has led to inflated prices, thereby contributing to economic hardship for ordinary citizens. He emphasized the need for the government to intervene decisively to alleviate the burden on the populace.
According to IPOB, fostering competition by deregulating the cement business is crucial to making building materials more accessible and affordable to Nigerians, especially in the realm of housing. Drawing parallels with the deregulation of the power sector, the group advocated for similar measures to be implemented across various industries, including cement production and distribution.
The statement called for the reinstatement of licenses for competent cement companies like Ibeto Group, whose operations were allegedly suspended unlawfully. IPOB argued that enabling the participation of both existing and new players in the market would facilitate price reductions and improve accessibility for consumers.
In addressing President Tinubu directly, IPOB underscored the importance of governmental action in curbing monopolistic tendencies and ensuring fairness in economic practices. The group urged Tinubu’ s administration to resist any collusion with established players that perpetuates unjust pricing practices to the demand for deregulation and increased competition in the cement industry reflects broader concerns about economic equity and government accountability. IPOB’ s stance highlights the need for proactive measures to foster a more inclusive and transparent business environment that prioritizes the welfare of the citizenry.
In conclusion, IPOB’ s call for deregulation and intervention in the cement sector underscores the urgent need for structural reforms to address monopolistic practices and promote economic fairness By heeding these calls, the Nigerian government can take meaningful steps towards mitigating the hardships faced by its
