FG Makes Move On Reducing Price Of Cement

The Minister of Works, David Umahi, has said the Federal Government will begin engagements with cement manufacturers on July 1 over the rising cost of cement in the country.

NEWSNGR reports that Umahi disclosed this at the unveiling of Lafarge’s new corporate identity, HBM, a member of the HUAXIN Group, at the Lagos Continental Hotel.

This was contained in a statement issued on Monday by his media aide, Francis Nwaze.

The minister said the rising cost of cement was affecting ongoing infrastructure projects and forcing contractors to seek 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 said.

“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 said President Bola Tinubu’s administration was investing heavily in critical infrastructure across the country, creating opportunities for manufacturers and investors.

He urged HBM and other cement manufacturers to expand production capacity to meet rising demand.

“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,” he said.

The minister also cited the Lagos-Calabar Coastal Highway as evidence of the administration’s infrastructure drive under the Renewed Hope Agenda.

“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.

He thanked Tinubu for what he described as the leadership and political will behind the country’s infrastructure push.

“The President knows what he is doing. The vision and mission are achievable, and we are on course, and this country will be taken back for the good of Nigerians,” he said.