SIR: Our hearts bleed as we make this passionate appeal to you as father of the nation, our last hope in this lingering callous and inhuman matter of life and death.
We are a group of new entrant Investors in the cement sector, licensed by the Federal Government under the administration of late President Umaru Yar’Adua to import, package, grind and produce cement locally in a backward integration policy programme effective 2008.
Our sin is that we answered government clarion call after a rigorous pre-qualification exercise to help reduce cement prices which went as high as two thousand, two hundred naira (=N=2,200). To sustain this policy and widen the investment space in this sector, government set up a program to be followed.
But as soon as we commenced importation and the building of local plants which coincided with the death of President Yar’Adua, an industrial giant in the sector petitioned the Federal Government and the licences were IMMEDIATELY withdrawn, and the programme stopped, occasioning untold economic hardship and default in various local and international contracts.
It may be of serious concern to you, dear President, to note that over 10 vessels already laden with cement at high sea under the licence were not allowed to berth. This episode marked the saddest point in our business lives, as all efforts to allow these vessels berth were rebuffed. Suffice it to state that all our members had met Federal Government requirement on backward integration policy under late President Yar’Adua. But all these were jettisoned under former President Jonathan with impunity in favour of few individuals.
Based on the capital intensive nature of cement business, we borrowed heavily in billions from local and foreign banks to meet our patriotic duty to our country. But, unfortunately, the cement so imported were callously not allowed to come into this country by fiat, including those awaiting discharge at the ports. Based on this unbelievable act by the past government and their cohorts, our businesses, families, integrity, banks and the economy had been ruined as we cannot repay our loans, sustain our employees and redeem our collateral which had been seized by banks and AMCON. All attempt to get Federal Government intervention or bailout has met brick walls as the past government was an accomplice in this “Man’s inhumanity to man”.
Our members have been in various courts seeking redress for losses ranging from N5Billion – N17Billion as damages.
Since our participation was on the invitation of the Federal Government who mindlessly ruined our lives and business with impunity, our prayer are that – an approval to be paid damages and cost of products to enable us meet our obligation to local and foreign creditors and resume production; that government approves intervention fund of N20 billion for all the affected companies to revive their factories, generate employment, make cement available and affordable.
National Secretary,
Cement Producers Association of Nigeria – CEPAN
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