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IPOB Urges Tinubu’s Administration To Deregulate Cement Industry For Lower Cement Prices

IPOB Urges Tinubu’s Administration To Deregulate Cement Industry For Lower Cement Prices May 14, 2024. EASTERN PILOT  Reporter: Biafra First...

IPOB Urges Tinubu’s Administration To Deregulate Cement Industry For Lower Cement Prices

May 14, 2024.

EASTERN PILOT Reporter: Biafra FirstSon 


The global family and movement of the Indigenous People of Biafra (IPOB) ably led by the great and indefatigable leader Mazi Nnamdi Okwuchukwu Kanu calls on Tinubu's Government to break the monopoly in the Cement business which is responsible for the 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 the Cement business which is currently monopolized by Fulani cartels namely Dangote and BUA cements. No serious government watches helplessly while its citizens are groomed 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 increasing supply ahead of demand. Such competition in the long run provides consumers with alternatives at reduced prices. The Tinubu government must not allow the continuation of the monopolistic attitudes of the Fulani capitalist and their entitlement mentality as if Nigeria belongs to them.

Allowing the Fulani capitalists to continue reaping the citizens off with the 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. Competent Cement companies like Ibeto Group that whose licenses were illegally suspended should be reinstated particularly now the two capitalists are claiming the impossible 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 the 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 lower than 3,500 per bag? Tinubu you must look into this and prove yourself innocent of 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 the Ibeto Group cement license was suspended is because he is an Igbo businessman. The Nigerian government must understand that only Igbo businessmen can compete and make the prices of items affordable to all.  For instance, Dr. Allen Onyema of Air Peace created a healthy competition through his entry into the international flight which led to a reduction in international flight tickets. Restricting Ibeto Group from competing in the cement industry that he played before the two Fulani capitalists instigated the Federal Government to suspend his Cement license is still the same ethnic economic policy against Ndigbo. The Nigerian government should understand that the more they frustrate the ingenuity of Ndigbo, the more Nigeria goes into an economic mess.

The Federal Government of Nigeria should allow Ibeto Cement and other companies into the Cement business to compete with the existing monopolists. Resisting other companies entrant into the cement industry means that the Federal Government is an accomplice in the extortion of Nigerians via exorbitant cement prices.

Let the monopoly over cement business be broken and the price of cement will crash. Every Nigerian deserves to build or live in an affordable house. 

More businessmen and women should be encouraged to bring in cement and rods including making the Ajokuta steel industry operational by the Nigerian government and its functionaries.


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