The Minister of Works, Engr. David Umahi has said the Federal Government will begin engagements with cement manufacturers from July 1st to address the rising cost of cement in the country.
Umahi revealed this at the unveiling of Lafarge’s new corporate identity, now rebranded as HBM, a member of the HUAXIN Group, at the Lagos Continental Hotel.
This was contained in a statement signed by his Media aide, Francis Nwaze, in Abuja, on Monday.
The minister said the high cost of cement was placing pressure on ongoing infrastructure projects and increasing contractors’ demands for contract variations.
“I want to insist that Lafarge, now HBM, and other manufacturers of cement should reduce their prices. We shall be engaging on this from the first of July,” Umahi stated.
“Manufacturers of cement must reduce their prices because the contractors are choking me to review their contracts. But nobody is reviewing anybody’s contract. It’s the manufacturers of cement that should review their costs,” he added.
Umahi noted that President Bola Ahmed Tinubu’s administration is investing heavily in critical infrastructure nationwide, creating unprecedented opportunities for manufacturers and investors.
He urged HBM and other industry players to expand production capacity to meet the growing demands of the nation’s infrastructure revolution.
While commending the company on its rebranding and renewed commitment to Nigeria, the minister assured the management of government support and partnership.
He said, “I commend you very highly, and I say welcome on board, and we are going to work together. The market is smaller than the president’s efforts. So, enlarge your coast.”
The minister highlighted progress under the Renewed Hope Agenda, citing the Lagos-Calabar Coastal Highway as evidence of the administration’s bold vision for national transformation.
He said the quality and scale of the project had attracted global attention, with foreign institutions acknowledging its standard.
“When the Dutch Bank came to evaluate our project, they said it was undervalued and that the project is of topmost quality. Today, our neighbouring nations are coming to steal the technology of the coastal highway,” Umahi stated.