POLITICS
Reps Joint Committee Probes Dangote, Lafarge over Rising Price of Cement

The Joint Committee of the House of Representatives investigating arbitrary rise of cement price in the country has asked major producers in the industry to tender documents on cost production to justify the price of cement in the market.
The committee resolved to visit production plants of the companies after going though their books to ascertain the cost of production with a view to determine a fair price of cement for all Nigerians.
The Chairman of the joint committee, Rep.
Jonathan Gaza (APC-Nasarawa) made the demand on Friday at a public hearing while quizzing Dangote Cement Company and Lafarge Africa PLC in Abuja.He said that the committee is interested in the cost of production from 2020 to date that justified the current price of cement which is over N10,000 in most parts of the country.
He said that the companies should give its average daily consumption of coal, gas, gypsum, limestone, clay, laterite and the average daily production of cement from 2020 to date.
Gaza said that the companies should provide details of all imported components for the production of cement and their prices from
2020 to date.
The lawmaker said that the companies should also provide details of local components for the production of cement and their prices in naira and dollars, if any, in the period under review.
He said that the companies should provide a summary of the monthly prices and quantity of cement produced from 2019 to date as well as their audited accounts of the company, bills of laden and duties paid to customs within the period under review.
Gaza also said that the companies should provide details of tax waivers and other incentives enjoyed plus gas and explosives contract details.
Rep. Dabo Ismail (APC-Bauchi state), a member of the committee, said that Dangote Cement Company had continued to make increasing profits in the country despite being able to source most of its raw materials locally.
He said that in 2022, the company declared a profit of N524 billion, N553 billion in 2023 and had so far made N166.4 billion in 2024.
The lawmaker said that there is no reason why the price of cement would keep rising in the market to the detriment of Nigerians while producers are smiling to he banks.
Earlier, the Group Managing Director (GMD) of Dangote Cement Company, Mr Arvind Pathack, had said that 95 per cent of production cost are either imported or linked to forex.
He explained that there had been,between 100 to 333 per cent increase in the price of major cement input materials like gas, AGO, gypsum, imported coal, spare parts, new trucks, tyres, petrol among others.
Pathack said that the company is made to pay in dollars, some of its contracts to access gas and explosives, saying that the provision made by the Central Bank of Nigeria (CBN) was not enough to meet demand, so they engage in international sales also source from the parallel market.
According to him, logistics issues such as deplorable state of key roads, create several issues including longer time to deliver, increase in truck maintenance and delivery cost.
The GMD explained that lack of sufficient forex to settle trade obligations had resulted to huge forex losses to a tune of N150 billion per annum, while paying 30 per cent interest rate on loans.
He said between May 2023 and June 2024, there has been over 220 per cent devaluation of the Naira among many other challenges like insecurity and public power supply.
Pathack said that the cost of building materials like reinforcement, granite and aluminum window had increased by 177 per cent to 283 per cent while cement had increase by 166 per cent between 2023 and 2024.
He said that cement was being sold at an average cost of 7,200, saying that any price over N10,000 was the handwork of retailers which the company had no control over.
According to him, when converted to dollars a bag of cement is sold at $7.8 dollars in Benin, $6.6 in Togo, $7.8 in Ghana, $4.4 in India while that of Nigeria is $4.43, making it one of the cheapest in Africa.
The committee admonished the companies to look into their policies and operations with a view to reduce the price of cement in the country.
In an interview with newsmen, the chairman of the committee expressed hope that the engagement would lead to a reduction in the price of cement.
He blamed the high price of the commodity on the inaction of Federal Competition Consumer Protection Commission (FCCPC).
Gaza said that as an agency responsible for the protection of consumers, they failed to protect Nigerians against middlemen who sold the commodity for as high as N14,000 after purchasing it for N6,000 at the factory.
“We are extremely hopeful that this engagement will lead to a reduction in the price of cement.
“FCCPC has slept on their functions so far, their inactivity and non-responsiveness to price is what has put Nigeria where we are today,” he said. (NAN)
POLITICS
Osun 2026 Guber: APC Aspirants Should Not Waste Money Contesting Against Adeleke – Ex Party Chieftain, Jackson Ojo

By Mike Odiakose, Abuja
A former Chieftain of the All Progressives Congress (APC), Dr Jackson Lekan Ojo has advised those in the race for the APC ticket not to waste their resources as the victory of Governor Isiaka Adeleke is practically a done deal.
In a video post on his Facebook page, Jackson Ojo said Governor Adeleke has won the heart of the people of his state with his transformation of all the 30 local governments in the State and prompt payment of workers and pensioners.
According to him, the achievements of Governor Adeleke has already done 80 percent of his campaign ahead of the election.
Jackson Ojo, who is a Security Expert and global affairs analyst, from Osun State, stressed that he has always advised political office holders to perform while in office as this is the greatest strategy and tactics to win future elections.
He stressed that the abysmal performance of the APC at the Federal level and the poor performance of previous APC governors in Osun state will count heavily against any candidate that is presented by the party to contest against governor Adeleke.
The former APC chieftain added that he is not patronizing the governor for any personal gain as there is nothing that the governor can give him that God has not already given him.
He stressed that his intervention in the Osun governorship race is to stop opponents of the governor from wasting their resources for an election they can never win.
His words: “Two weeks ago I resigned from partisan politics, so I am no longer member of any political party in Nigeria. When I speak now I am not speaking in favour or against any political party. So, I am very free to air my views
“This is my views on the forthcoming governorship election in Osun state. I still see some people struggling for governor in Osun state come 2026.
“That is highly impossible for an APC aspirant. What is the APC government doing at the national level, what are the doing in the Senate, what are they doing in the House of Representatives to encourage Nigerians?
“If we are in a place like America or United Kingdom (UK) APC will not be able to win ordinary councillorship again in this country. Is it in the management of economy, education, health, security and others?
“In all these areas put together they have not scored up to 10 percent. I can boldly mark them today they they have woefully failed in area of agricultural development, educational development, health development, security, economy and infrastructural development. In all ramifications this party has failed.
“Look at the antecedents of the APC in Osun state. Aregbesola tried a bit, yes, but then Aregbesola left the State aground.
“When Baba Jeje, Mr. Go Slow, the unfortunate Minister of Blue Economy or whatever they call it, came there was nothing to write home about during his tenure as governor of Osun State. He came, he bartered the state, he rubbished the State, he insulted the state, he disgraced the State on the platform of APC.
“Now another APC is coming out now thinking of winning? Winning where, defeat who?
“Governor Adeleke does not know me, there is no benefit Adeleke can give me that God has not given to me. I can’t be a Commissioner in Osun state. No. I can’t be Special Adviser or whatever. I can’t even take their contract. I don’t think they can award the kind of contract that I need to an individual.
“But then, Adeleke has tried. If you go to my community you will see the way he has positively turned the community. Even if I am the governor of Osun State I don’t think I can do what Adeleke has done in my town and that transformation cuts across all the 30 local government areas of Osun State. All the communities, all the local governments, all.
“This man is no longer paying half salary of quarter salary. This man is not owning workers, he is not owning pensioners. This alone has spoken, this alone has done 80 percent of his campaign.
“If you perform well in office that is the highest strategy and tactics that you can use to win the heart of the people.
“Come 2026 whoever is putting money on ground in Osun state to go and contest governorship in Osun state, honestly that person has money to waste. It is sadaka, the money they have stolen they want to come and do sadaka. It is Adeleke till 2030.”
POLITICS
Former DG of PDP Governors Forum Defects to ADC

By Mike Odiakose, Abuja
Former Director General of the People’s Democratic Party (PDP) Governors Forum, Hon C.I.D Maduabum has resigned from the party and joined the African Democratic Congress (ADC).
In a statement made available to Daily Asset in Abuja on Sunday, Hon Maduabum said he is dumping the PDP because the party has been “hijacked by self-serving, unscrupulous elements who are more interested in personal power grabs than in party discipline, internal democracy, or national interest.
”Part of his statement read: “After deep reflection, extensive consultations, and careful evaluation of the current political realities within the People’s Democratic Party (PDP), I have taken the difficult but necessary decision to resign my membership of the PDP with immediate effect.
“As a committed democrat, a two-term member of the House of Representatives, and former Director-General of the PDP Governors’ Forum, I have dedicated significant portions of my political life to building the PDP as a platform for democratic consolidation and national development.
“However, the soul of the party I once served with pride has been hijacked by self-serving, unscrupulous elements who are more interested in personal power grabs than in party discipline, internal democracy, or national interest.
“The PDP today is a shadow of its former self. It has descended into chaos, internal betrayal, and systematic destruction by diverse forces who have no regard for the principles upon which the party was founded. Sadly, voices of reason are no longer welcome, and genuine reformers are vilified or silenced.
“I can no longer in good conscience remain in a house that has been stripped of its moral compass and overrun by opportunists.
“In light of this, I am proud to announce that I am joining the African Democratic Congress (ADC) — a party that now stands as the only credible democratic alternative for Nigeria.
“The ADC is emerging as a beacon of hope for good governance, integrity, accountability, and inclusive politics. It offers the opportunity for principled politics, genuine people-oriented leadership, and a platform for rebuilding our nation from the grassroots up.
“The ADC Coalition includes progressive minded people like Mr. Peter Obi and others.
“I join the ADC not merely as a defector but as a reformer committed to helping build a new political culture — one based on merit, ideology, discipline, youth inclusion, and national unity.
“The time has come for all well-meaning Nigerians to take a stand against the decay in our political system. I call on all patriots, especially those disillusioned by the dysfunction in the traditional parties, to rally around this movement for a new Nigeria through the ADC.
“I remain committed to the democratic ideals of justice, equity, and service to the people. The struggle to rescue Nigeria and restore its promise continues — and it begins now on a new, firmer footing.”
POLITICS
Anambra: INEC Registers 96,085 New Voters, Extends CVR by Three Days

The Independent National Electoral Commission (INEC) said it has registered 96,085 new voters in nine days and extended the exercise by three days in Anambra.
The commission disclosed this in a statement by Sam Olumekun, National Commissioner and Chairman, Information and Voter Education Committee, on Thursday in Abuja, after its weekly meeting.
He said that on the preliminary stage of the CVR, 56,017 representing 58 per cent of new registrants were female while 50,429 52 representing 48 per cent were young people between the ages of 18 and 34.
“The commission is pleased with the turnout of registrants in Anambra and the peaceful conduct of the Continuous Voters Registration (CVR) in all the 326 registration centres in the state.
“As of yesterday, Wednesday, 96,085 new voters have successfully registered in nine days. On average, the Commission registered over 10,600 voters per day.
“In addition, 12,595 voters applied for transfer of their registration both within and outside the state while 7,061 persons applied for the update of their records or the replacement of their damaged or lost Permanent Voters Cards (PVCs).
“The CVR in Anambra ends today. However, in response to appeal from citizens, the Commission hereby extends the exercise for three more days. It will now end on Sunday, July 20,” he said.
Olumekun said that the commission would thereafter display the register for claims and objections by citizens as provided by law.
This, according to him, will be followed by a further clean-up of the data using the Automated Biometric Identification System (ABIS).
“Subsequently, the detailed breakdown of the new registrants by age, gender, occupation and disability will be published for public information,” he said.
Olumekun also disclosed that INEC had received five more letters of intent from associations seeking registration as political parties.
According to him, the new application brings the number received so far by the commission to 134.
Olumekun stated that the details of the new associations, indicating their proposed names, acronyms, logos, addresses and interim leaderships were already published on INEC website and other platforms for public information.
He said that INEC would continue to keep the citizens up to date on all its activities.