Five major cement manufacturers—Dangote, Supacem, Ghacem, Diamond Cement, and CIMAF—boycotted a scheduled meeting with the Minister of Trade and Industry, K.T. Hammond, on Monday, July 1, regarding a proposed Legislative Instrument (LI) to regulate cement prices.
The manufacturers opted for closed-door discussions instead, highlighting their strong opposition to the LI.
The Minister of Trade and Industry, K.T. Hammond, addressed the situation at a press conference, expressing his determination to proceed with laying the LI in parliament on Tuesday, July 2.
“This was intended to be a meeting with the cement manufacturers, not a press conference,” Hammond clarified. “Recently, I indicated my intention to introduce an LI concerning cement pricing in the country. There appears to be some misunderstanding; I suspect that in my absence, the majority leader might have distributed the document, leading to widespread speculation. Regardless, I am moving forward with it.”
KT Hammond refuted claims that the National Democratic Congress (NDC) had prevented the LI’s introduction, emphasizing that consultations with stakeholders have been ongoing. “There have been numerous complaints about a lack of stakeholder consultation, but I have consistently engaged with these players,” he said.
The Minister recalled charging the manufacturers and their associations to consider the pricing of cement responsibly during a committee inauguration focused on this issue. He also requested the manufacturers to publish their expatriate prices to provide transparency on cement costs.
Despite the manufacturers’ boycott, K.T. Hammond remains resolute in his commitment to regulate cement prices through the proposed LI, aiming to ensure fair pricing practices within the industry.
