National Association of Polytechnic Students (NAPS) has given reason behind cement price hike in the country, alleging that some fraudulent stakeholders are responsible for the continuous price increase.

The students’ national body said following its independent investigation as to the causes of unprecedented hike in all building materials, such as Cement, it discovered that a sum of N200 billion intervention fund meant for cement technology development had allegedly been pocketed by some unscrupulous individuals within the system.

Addressing a press conference on Saturday in Kaduna along with some officials of the Association, the NAPS President, Comrade Ridwan Opeyemi Munirudeen lamented that it was unpatriotic to divert such funds meant for cement production in the country.

Comrade Munirudeen said students are more pained and worried over continuous dwindling development of cement institutions in the country because as polytechnic students they are technologically inclined to see Progressive development of such institution.

To this end, the students called on the Economics and Financial Crime Commission (EFCC) to as a matter of urgency commence probe of Cement Technology Institute of Nigeria.

NAPS also called on relevant bodies and stakeholders such as Board of Trustees, Cement Technology Institute of Nigeria (CTIN), Ministry of Education, Ministry of Industry, Trade, and Investment and the National Assembly to intervene and save the situation.

According to the NAPS President, “In our independent investigation as to the causes of unprecedented hike in all commodities including building materials, essentials such as Cement, we have discovered a whopping sum of N200 billion intervention fund meant for cement technology development has been pocket by some individuals.

“It’s unpatriotic to divert intervention fund meant to development cement technology, as technological inclined students, we are highly disappointed in the leadership of Cement Technology Institution of Nigeria under the watch of its incumbent leadership for this carelessly and a perceive act of fraud and criminal diversion of common wealth.

“We strongly believe that if the fund is utilised, we should be the beneficiaries as technical students from Polytechnic in Nigeria.

“It’s on this note we are calling on Economics and Financial Crime Commission to as a matter of urgency commence probe of Cement Technology Institution of Nigeria.

“The incumbent federal Government led by President Bola Ahmed Tinubu have undoubted demonstrated commitment to transform education, improve wellbeing of Nigeria students, staffs and infrastructure in education sector so as to make life easier for all citizens.

“Today, we are rising in protest to demand accountability and justice against saboteurs. We, the National Association of Polytechnic Students (NAPS), in consonance with our apex body NANS being the voice and spirit of Nigeria’s youths, the bearers of our nation’s future, we are raising our voices in protest.

“We are voicing our total disappointment likewise express our deep concern and outrage regarding the mismanagement and lack of accountability within the Cement Technology Institute of Nigeria (CTIN),

“It is rather unfortunate that the alleged misuse of funds, intended to provide training and development opportunities for Nigerian youths in the cement industry in line with the establishment goals of CTIN had been squandered, leaving a trail of broken promises and shattered dreams.

“The situation of countless Nigerian youths, who are unemployed and lacking technical skills in a rapidly advancing global economy may not be far to another yardstick for unprecedented cement price hike in the country, is a harsh testament to the repercussions of such mismanagement.

“We are living in a country where our potential is suppressed and our future is uncertain courtesy of greed and selfishness of microscopic few so called special citizens in strategic position of authority, who are enriching themselves by diverting funds intended for our growth and development as future leaders of our dear nation.

“We demand accountability, and we demand justice. We demand an immediate, detailed, and public explanation to the Nigerian people about the status, management, and use of the over 20 billion Naira (about $100 million) contributed as levies on imported cement to CTIN for technical training purposes over 10 years ago when Nigeria was still importing cement by chairman Cement Technology Institute of Nigeria and Federal Ministry of Industry, Trade and Investment

“We are requesting directly, an immediate engagement of an independent forensic auditor to audit the account of CTIN from inception till date to ascertain the veracity of the allegations of mismanagement and misappropriation of the CTIN funds.

“We call on Economics and financial crime commission EFFC to commence probe of CTIN N200 billion intervention fund between now and 7days, otherwise we shall be leading a massive protest to EFCC headquarter, Abuja to press home our demand,” he added. (The Sun)

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