By: Joseph Momoh, Reporter D.S.
The Ministry of Trade and Industry has pledged to dismantle a purported cement cartel allegedly formed by several importers within the country. A senior official from the ministry affirmed that the government is taking proactive measures to tackle the persistent issue of price manipulation that is reportedly impacting consumers.
According to the official, prior to the introduction of a new pricing system, cement importers sold bags of cement at wholesale prices ranging from Le120 to Le140. However, current reports indicate that some importers are now demanding prices between Le160 and Le165, raising alarms about inflated pricing and perceived artificial scarcity.
“The administration has been engaged in discussions with representatives from the three largest cement importers for the past four weeks,” the official stated. “There is a deliberate failure on their part to fully implement the terms of the concession agreements they signed with the government. However, we are coming after them as soon as this week.”
Despite the government’s efforts, the official noted that some importers have yet to fully cooperate. Consequently, the government is considering more stringent measures, including the suspension of import permits and the cancellation of concessions for non-compliant businesses.
The Ministry is also conducting a thorough investigation into all concession agreements signed with cement importers, citing specific instances of willful non-compliance with contract conditions. The official further emphasized that the government is prepared to act swiftly, with new measures likely to be implemented as early as this week.
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