Ayuba Wabba, the immediate past president of the Nigerian Labour Congress (NLC) has tackled Nigerian cement manufacturers over their exorbitant price fixing.
The NLC directed a nation-wide protest after meetings between the union and President Bola Tinubu’s representatives ended in a deadlock.
The protest against Tinubu’s hasty removal of fuel subsidy took a new dimension on Wednesday when Wabba took on Dangote Cement Plc, BUA Cement Plc and Lafarge Africa plc.
Wabba said, “All around the world, nowhere is the bourgeoisie that forms 10 per cent continue to give us what we want, and they feast on 90 per cent of Nigerians. Find out how their lifestyle is- very bogus. They feast actually on the poor. They feast on the working class. We create the wealth of this country, but yet few people misappropriate wealth, and we live in penury.
“I was engaging my colleague in Senegal few weeks ago about the price of cement because some of the businessmen here also have investments in Senegal and they said no when they wanted to behave like the way the behave in Nigeria.
“Senegalese government told them they cannot fix the price of cement. It is government that will fix the price of cement. We know your profit margin. We know how much you spend to do this business and therefore government must fix the price. In Zambia, the same thing. The government fixes the price. Why exploit the people when we have these resources given to us free of charge? Why should we suffer the consequences?”
Dangote Cement, BUA and Lafarge are the leading manufacturers of cement in Nigeria.
Dangote produces 51.6 million tonnes per annum; BUA is targeting 17 million tonnes yearly while Lafarge has installed a cement production capacity of 10.5MTPA.
Dangote’s retail price for 50kg cement is N4,700; Lafarge’s retail price is N4,500 and BUA’s retail price is N4,700.
Wabba also spoke on the issue of the Dangote refinery which was commissioned late May, 2023.
During the commissioning of the 650,000 barrels per day refinery, Aliko Dangote, its owner said it will begin supply latest July.
But the refinery which was tipped to be the game changer is yet to begin operations.
Ayuba said, “We are aware that they brought up the issue of Dangote Refinery it will be ready by the first quarter of 2023. It was commissioned, but is it producing?
“If we remain solely on importation, two variables are not under our control, one the exchange rate and the cost of crude oil in the international market which means it is going to be a vicious cycle that it has been for the past 30 years. heir has been a vicious cycle and will continue to affect our economy, and therefore, the government must come with immediate plan, medium, and long-term plans.
“Every worker on fixed wages is feeling the heat of this impact. I don’t see how the palliative will address this impact. The palliative is only a temporary measure, but the issue of the price increase will be permanent. Once the exchange rate goes up and it continues to go up, the price will increase. Once the crude price at the international market increases, the price will go up.”