The Minister of Works, Engr. David Umahi, has called on cement manufacturers to immediately lower prices, warning that current rates are piling pressure on federal infrastructure projects and forcing contractors to seek contract reviews.
Umahi made the call Tuesday at the Lagos Continental Hotel during the unveiling of Lafarge’s new identity as HBM, a HUAXIN Group company.
He said government will meet manufacturers from July 1 to address pricing. “I want to insist that Lafarge now HBM and other manufacturers of cement should reduce their prices,” he declared. “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 cost.”
The minister noted that President Bola Tinubu’s administration is investing heavily in roads and critical infrastructure, creating huge demand for building materials. He urged HBM and other producers to expand capacity to match the scale of the Renewed Hope Agenda.
Commending HBM’s rebranding, Umahi pledged government support: “Welcome onboard and we are going to work together. The market is smaller than what the president is doing. So, enlarge your coast.”
He cited the Lagos-Calabar Coastal Highway as evidence of the administration’s vision, saying foreign evaluators rated it top-quality and neighboring countries are now seeking the technology. Umahi also praised President Tinubu’s leadership, assuring Nigerians the infrastructure drive remains on course to restore national prosperity.