Cement prices: did Bawumia lie about the commodity price?

Vice President Dr Mahamudu Bawumia recently said prices of the things Ghanaians buy daily are falling and some have fallen. Bawumia was touting the effectiveness of the Nana Addo-led NPP government in handling the Ghanaian economy. The truth is, Bawumia is no stranger to the expressed anger of Ghanaians at how things have turned. Cement prices were one of those the second in command mentioned as one that was falling.

“What is remarkable is that prices of items that we normally buy are falling, cement prices are falling, fuel prices have fallen, cooking oil prices are falling, iron rod prices, rice prices are falling, maize prices are falling and this is telling us that something is happening because normally we see increases, but we are seeing a decline in pricing,” Bawumia stated in December 2023.

But KT Hammond says cement prices are up

However, less than a month after he made those comments, the man the Vice President trusts to manage the sector came out lamenting price hikes. Contrary to the claims by Dr Bawumia that the prices were climbing down, the Minister of Trade and Industry has asserted that prices are heading south.

KT Hammond, the Trade Minister and MP for Adansi Asokwa said he has been told that the prices of cement have increased significantly. He said it is evil for the producers and importers to increase the prices. According to the MP, the act is led a by “cabal of the cement producers and importers”.

“During the festivities, I learnt in the constituency that the cabal of the cement producers and importers have again conspired and decided to increase the prices of cement, by a considerable figure. I don’t think that that is right. I do not accept that, that is right.

“The government has provided the necessary ambience and regulatory framework, the proper environment for these companies to operate and do their businesses profitably,” he bemoaned. Then he added, “I expect that they make their reasonable profits. What I don’t accept is for them to take the people of Ghana for granted. I can’t understand the basis for the increase.”

With this latest development, the question that begs for answers is, was Bawumia wrong or is it the so-called ‘cabal’ that has decided to dirty him?