Reduce Prices of Cement, Umahi Urges Manufacturers

The Minister of Works, David Umahi, has called on cement manufacturers to reduce the price of cement across the country, warning that rising costs are putting pressure on ongoing infrastructure projects and fueling demands for contract reviews.

Umahi made the call during the unveiling of the new corporate identity of Lafarge, now rebranded as HBM, a member of the HUAXIN Group, held at the Lagos Continental Hotel.

Addressing industry leaders, investors and other stakeholders at the event, the minister said the Federal Government would begin engagements with cement manufacturers from July 1 to address concerns over the escalating cost of the product.

This was contained in a statement by the the Senior Special Assistant to the Minister of Works on Media, Francis Nwaze, on Monday, June 22.

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“I want to insist that Lafarge now HBM and other manufacturers of cement should reduce their prices,” Umahi said.

“We shall be engaging on this from First of July. Manufacturer of Cement must reduce their prices because the contractors are chocking me to review their contracts. But nobody is reviewing anybody’s contract. It’s the manufacturers of cement that should review their cost.”

The minister noted that the administration of President Bola Tinubu is making massive investments in road and other critical infrastructure projects nationwide, creating significant opportunities for manufacturers and investors.

He urged HBM and other cement producers to increase their production capacity to meet the growing demands of the country’s infrastructure expansion programme.

Commending the company on its rebranding and continued investment in Nigeria, Umahi assured the management of government support and collaboration.

“I commend you very highly and I say welcome onboard and we are going to work together. The market is smaller than what the president is doing. So, enlarge your coast,” he said.

The minister also used the occasion to highlight what he described as the achievements of the Tinubu administration under the Renewed Hope Agenda, particularly in infrastructure development.

He cited the Lagos-Calabar Coastal Highway as evidence of the government’s commitment to transforming the nation’s infrastructure landscape, saying the project has attracted international attention.

“When the Dudge Bank came to evaluate our project, they said it was undervalued and that the project is of topmost quality. Today, Our neighboring nations are coming to steal the technology of the coastal highway,” Umahi stated.

The minister expressed confidence that the Federal Government’s development agenda would deliver long-term benefits to Nigerians, praising President Tinubu for providing the leadership driving the country’s infrastructure push.

“I want to use this opportunity to thank President Bola Ahmed Tinubu and I commit that Mr. President is committed to retake this country. 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.