The Minister of Works, David Umahi, has called on cement manufacturers across Nigeria to immediately reduce the price of cement, saying the current cost is exerting pressure on ongoing infrastructure projects and triggering demands for contract reviews by contractors.
According to a statement issued by Francis Nwaze, Senior Special Assistant to the Minister of Works on Media, the minister made the appeal during the unveiling of the new corporate identity of HBM Group Nigeria, formerly known as Lafarge Nigeria and now a member of the HUAXIN Group, at the Lagos Continental Hotel on Saturday.
Addressing industry leaders, investors and stakeholders at the event, Umahi disclosed that the Federal Government would begin engagements with cement manufacturers from July 1 to address the rising cost of cement.
“I want to insist that Lafarge, now HBM, and other manufacturers of cement should reduce their prices,” the minister said.
He added that increasing cement prices were prompting contractors handling government projects to seek contract variations, a development he said the government was unwilling to accommodate.
“We shall be engaging on this from July 1. 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 cost,” Umahi stated.
The minister noted that the administration of President Bola Ahmed Tinubu is making substantial investments in critical infrastructure nationwide, creating significant opportunities for manufacturers and investors.
He urged HBM and other cement producers to expand their production capacity to meet the growing demand generated by ongoing and planned infrastructure projects.
Commending the company on its rebranding and continued commitment to Nigeria, Umahi assured its 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 highlighted what he described as the achievements of the Federal Government under the Renewed Hope Agenda, particularly in infrastructure development. He cited the Lagos-Calabar Coastal Highway as a flagship project demonstrating the administration’s commitment to national development.
According to Umahi, the project has attracted international recognition for its quality and scale.
“When the Dudge 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,” he said.
The minister expressed appreciation to President Tinubu for what he described as strong leadership and political will in advancing infrastructure development across the country.
“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.
