The group knocked the government for allowing Dangote Cement Plc and BUA Cement to monopolise the industry for long.
The Indigenous People of Biafra (IPOB) has asked President Bola Tinubu’s government to break the monopoly in the cement business in the country by deregulating the business to reduce the prices of cement products.
IPOB made the demand in a statement issued by its Media and Publicity Secretary, Emma Powerful, saying that the unbundled monopoly of cement business is responsible for the high cost of cement in Nigeria.
The group knocked the government for allowing Dangote Cement Plc and BUA Cement to monopolise the industry for long.
Asking President Tinubu to stop what he described as state-induced hardship on the citizens, Powerful stated that no serious government watches helplessly while its people groan under economic hardship and capitalists make billions of naira.
He said, “Serious nations prioritise 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 liberalised 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 reduced prices.
“The Tinubu government must not allow the continuation of the monopolistic attitudes of the capitalists and their entitlement mentality as if Nigeria belongs to them.
“Allowing the capitalists to continue reaping the citizens off with the high cost of cement is not only wicked but cowardice.”
He noted that just like the government deregulated the power sector, “every other sector particularly cement production and distribution should also be deregulated”.
He said, “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 of 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.
“Tinubu, you must look into this and prove yourself innocent of this economic hardship ravaging the country.
“Resisting other companies' entry 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 the cement business be broken and the price of the 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 Ajaokuta steel industry to be operational by the Nigerian government and its functionaries.”