In a recent statement, the Indigenous People of Biafra (IPOB) called upon President Bola Ahmed Tinubu to intervene in the skyrocketing prices of cement in Nigeria. The group highlighted the role of two major players, BUA and Dangote Cements, in monopolizing the market, leading to unaffordable prices for ordinary Nigerians. IPOB emphasized that the absence of competition from companies like Ibeto has contributed to the current situation.
According to IPOB, the high prices of cement have made it challenging for many Nigerians, including civil and public servants with low incomes, to afford to build homes. They argue that the government’s support for a few select companies has resulted in a lack of competition, leading to an unhealthy monopoly that benefits only a few.
The group urged President Tinubu to lift the ban on Ibeto cement and allow them to compete freely with other established companies. They believe that Ibeto can lower prices and make cement more affordable for the masses. In doing so, they hope to alleviate the housing crisis and prevent homelessness for many Nigerians.
This call for action comes at a crucial time when the cost of building materials, including cement and iron rods, has reached unprecedented levels. IPOB warns that if immediate action is not taken, the situation could worsen, leading to dire consequences for the populace.