FG to meet cement manufacturers July 1 over rising cement prices

By Mashe Umaru Gwamna

The Minister of Works, Engr. David Umahi, has disclosed that the Federal Government will engage cement manufacturers across the country from July 1 to address the persistent rise in cement prices.
This was contained in a statement signed and issued by the Senior Special Assistant to the Honourable Minister of Works on Media.
Umahi made the disclosure while delivering the keynote address at the official unveiling of the new corporate identity of Lafarge Nigeria, now rebranded as HBM, a member of the HUAXIN Group, in Lagos.
According to the Minister, the government is concerned about the impact of high cement prices on ongoing infrastructure projects nationwide.
“We shall be engaging on this from July 1. Cement manufacturers must reduce their prices because contractors are mounting 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.
He insisted that Lafarge, now HBM, and other cement manufacturers should reduce the price of cement, stressing that the current cost of the commodity is increasing pressure on contractors and driving demands for contract variations.
The Minister noted that the administration of President Bola Ahmed Tinubu is making significant 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 growing demands of the nation’s infrastructure development agenda.
Commending the company on its transition and renewed commitment to the Nigerian market, Umahi assured its management of the Federal Government’s support and partnership.
“I commend you very highly and welcome you on board. We are going to work together. The market is even smaller than what the President is doing. Therefore, expand your capacity,” he said.
The Minister also highlighted the progress being recorded under President Tinubu’s Renewed Hope Agenda, particularly in infrastructure development.
He cited the Lagos-Calabar Coastal Highway as a clear demonstration of the administration’s commitment to national transformation, noting that the quality and scale of the project have attracted international attention.
“When the Dutch Bank came to evaluate our project, they said it was undervalued and that the project is of the highest quality. Today, our neighbouring countries are coming to study the technology behind the Coastal Highway,” he stated.
Umahi expressed appreciation to President Tinubu for providing the leadership and political will driving the country’s infrastructure renaissance, assuring Nigerians that the administration remains committed to restoring national prosperity.
“I want to use this opportunity to thank President Bola Ahmed Tinubu. Mr. President is committed to repositioning this country. He knows what he is doing. The vision and mission are achievable, and we are on course to restore prosperity and improve the lives of Nigerians,” he said.
The event was attended by industry leaders, investors, and other key stakeholders in the construction and manufacturing sectors.