Legislation to Regulate Cement Prices Deemed Illegal The recent legislation passed to regulate cement prices has come under fire, with industry leaders declaring it illegal and vowing to challenge it in the Supreme Court. The legislation, which aims to curb rising cement costs and protect consumers, has been met with strong opposition from cement manufacturers. They argue that it violates the principle of free trade and infringes on their right to determine their own prices. “This legislation is an unwarranted interference in the free market and will have disastrous consequences for our industry,” said a spokesperson for the Cement Manufacturers Association. “We will not hesitate to take this matter to the Supreme Court to protect our rights.” The Supreme Court is the highest court in India and has the authority to overturn laws that are deemed unconstitutional or illegal. It is expected that the cement manufacturers will argue that the legislation violates the Constitution’s provisions on freedom of trade and commerce. Industry experts predict that the Supreme Court will scrutinize the legislation closely and determine whether it is a legitimate exercise of the government’s regulatory powers or an overreach that infringes on the rights of businesses. The outcome of the Supreme Court case will have a significant impact on the cement industry and the wider economy. If the legislation is deemed illegal, it will be repealed, and cement manufacturers will be free to set their own prices. However, if the legislation is upheld, it will provide the government with a powerful tool to regulate cement prices and protect consumers from exploitation. The Supreme Court’s decision is expected to be a precedent-setting ruling that will define the limits of government intervention in the free market. It will also be an important test of the government’s ability to balance the interests of businesses and consumers.The Honorable Minister of Trade and Industry has declared that the legislation proposed to regulate cement prices is illegal and that he will challenge it in the Supreme Court. The Minister made this known during a press conference in Abuja on Tuesday. He said that the legislation, which was passed by the National Assembly last week, is in violation of the constitution and will stifle competition in the cement industry. “The constitution guarantees the freedom of trade and industry, and this legislation will undermine that freedom,” the Minister said. “It will also create a monopoly in the cement industry, which will lead to higher prices for consumers.” The Minister said that he has instructed the Attorney General of the Federation to file a suit in the Supreme Court to challenge the legislation. He said that he is confident that the court will strike down the legislation as unconstitutional. “I am confident that the Supreme Court will uphold the constitution and strike down this illegal legislation,” the Minister said. “This legislation is not in the best interests of the Nigerian people, and we will not allow it to stand.”