The Minister of Works, Senator David Umahi, has called on cement manufacturers across Nigeria to immediately reduce the price of cement, warning that rising costs are putting pressure on ongoing infrastructure projects and triggering demands for contract variations.
Umahi made the call in a statement issued by Francis Nwaze, his Senior Special Assistant on Media to the Minister of Works on Monday, while delivering the keynote address at the unveiling of the new corporate identity of Lafarge Nigeria, now rebranded as HBM, a member of the Huaxin Group, at the Lagos Continental Hotel.
The minister said the Federal Government would commence discussions with cement manufacturers from July 1 to address the rising cost of the commodity, stressing that the burden of cost adjustments should not be transferred to government through contract reviews.
"I want to insist that Lafarge, now HBM, and other manufacturers of cement should reduce their prices.
"We shall be engaging on this from July 1. Manufacturers of cement must reduce their prices because contractors are putting pressure on me to review their contracts. But nobody is reviewing anybody's contract. It is the manufacturers of cement that should review their costs," Umahi said.
According to the minister, the administration of President Bola Ahmed Tinubu is making unprecedented investments in critical infrastructure across the country, creating vast opportunities for manufacturers and investors.
He urged HBM and other industry players to expand their production capacity to meet the increasing demand generated by the government's infrastructure drive.
Commending the company for its transition and renewed commitment to the Nigerian market, Umahi assured its management of the Federal Government's support.
"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 capacity," he said.
The minister highlighted ongoing infrastructure projects under the Tinubu administration's Renewed Hope Agenda, citing the Lagos-Calabar Coastal Highway as evidence of the government's commitment to national transformation.
Umahi said the scale and quality of the project had continued to attract international attention and admiration.
"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 study the technology of the coastal highway," he stated.
The minister expressed appreciation to President Tinubu for providing what he described as the leadership and political will driving the country's infrastructure renewal efforts.
He assured Nigerians that the administration remained committed to restoring economic prosperity through strategic investments in infrastructure.
"I want to use this opportunity to thank President Bola Ahmed Tinubu, and I can assure Nigerians that Mr President is committed to retaking this country. The President knows what he is doing. The vision and mission are achievable, and we are on course to take this country back for the good of Nigerians," Umahi said.
The event attracted industry leaders, investors and key stakeholders in the construction and manufacturing sectors.
