JUST IN: Umahi urges cement manufacturers to cut prices, backs Tinubu’s infrastructure drive

Economy & Policy, Politics

LAGOS, Nigeria (NPA) — Minister of Works, Senator David Umahi, has called on cement manufacturers across Nigeria to reduce the price of cement, saying the rising cost of the commodity is increasing pressure on infrastructure projects and triggering demands for contract variations.

Umahi made the appeal while delivering a keynote address at the unveiling of the new corporate identity of Lafarge, now rebranded as HBM, a member of the HUAXIN Group, in Lagos.

The minister said the Federal Government would begin engagements with cement manufacturers from July 1 to address concerns over pricing.

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

“We shall be engaging on this from July 1. Cement manufacturers must reduce their prices because contractors are pressuring us to review their contracts. But nobody is reviewing anybody’s contract. It is the manufacturers that should review their costs.”

According to him, the administration of President Bola Ahmed Tinubu is making significant investments in critical infrastructure nationwide, creating vast opportunities for manufacturers and investors.

Umahi urged HBM and other industry players to expand production capacity to meet growing demand arising from ongoing infrastructure projects.

He commended the company for its transition and renewed commitment to the Nigerian market, assuring it of the Federal Government’s support.

“The market is smaller than what the President is doing. Expand your capacity because opportunities are enormous,” he said.

The minister also highlighted major infrastructure projects being executed under the Renewed Hope Agenda, citing the Lagos-Calabar Coastal Highway as evidence of the administration’s commitment to national development.

According to him, the project has attracted international attention because of its scale and quality.

“When international evaluators visited the project, they acknowledged its quality and significance. The project continues to draw interest from neighbouring countries,” Umahi said.

He expressed confidence in President Tinubu’s vision for the country, describing the administration’s economic and infrastructure agenda as achievable and transformative.

“I want to thank President Bola Ahmed Tinubu for his leadership. The President is committed to repositioning this country, and we remain on course to deliver the vision for the benefit of Nigerians,” he added.