Nigeria: new companies want FG to break monopoly

Nigeria: new companies want FG to break monopoly
Published: 19 July 2010

A forum of new entrants into the Nigerian cement industry has urged the Federal Government to break the unhealthy monopoly existing in the industry and called for the cancellation of bulk  cement import licence, reports the Nigerian Tribune.
 
Chairman of the forum, Prince David Iweta, pointed this out at a meeting with the Minister of Commerce and Industry, Senator Jubril Martins-Kuye, in Abuja.
 
According to the chairman, the demand – supply gap in the cement subsector, was as a result of monopoly situations that have characterised the industry over the years noting that 65 per cent of annual import of cement is being done by a single company.
 
The chairman, urging the government to break the monopoly, also demanded among others, that cement industry management that was moved from the Ministry of Commerce and Industry to Ministry of Finance should be returned to the former ministry.
 
They requested that Federal Government should invite all stakeholders in the cement industry together with the ministry officials for a brainstorming meeting to draw up a balanced cement policy for the country that will accommodate all interest groups in the Industry.
 
They also called for total cancellation of bulk cement import licence regime for cement import terminal operators as no one operator will import more than the quantity of bulk cement their factory can handle per year.