Umahi Urges Cement Firms To Cut Prices, Says Tinubu’s Infrastructure Drive Expanding Demand
OLORUNDARE ENIMOLA, Lagos
Nigeria’s Minister of Works, Senator David Umahi, has called on cement manufacturers to reduce the price of cement, warning that rising costs are increasing pressure on government infrastructure projects and prompting contractors to seek contract price reviews.
Umahi made the remarks during the unveiling of the new corporate identity of Lafarge Nigeria, now rebranded as HBM following its acquisition by China’s Huaxin Group, at the Lagos Continental Hotel on Saturday.
The minister said the Federal Government would begin formal engagements with cement manufacturers from July 1 to address what he described as unsustainable pricing in the sector.
“I want to insist that Lafarge, now HBM, and other manufacturers of cement should reduce their prices,” Umahi said.
He argued that soaring cement prices were making it difficult for contractors executing public infrastructure projects and insisted that manufacturers, rather than the government, should bear responsibility for reducing production costs.
“Manufacturers of cement must reduce their prices because the 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,” he said.
Umahi said the administration of President Bola Ahmed Tinubu was making unprecedented investments in roads and other critical infrastructure, creating significant business opportunities for manufacturers and investors.
He urged HBM and other cement producers to expand production capacity to meet the growing demand generated by the government’s infrastructure programme.
Commending the company’s rebranding and renewed investment in Nigeria, the minister assured its management of the Federal Government’s willingness to work closely with industry players.
“The market is even smaller than what the President is doing. So, enlarge your capacity,” he told the company’s executives.
Umahi also cited the Lagos-Calabar Coastal Highway as one of the flagship projects under President Tinubu’s Renewed Hope Agenda, describing it as evidence of the administration’s commitment to transforming the country’s infrastructure.
According to the minister, the project has attracted international interest because of its scale and engineering quality.
He claimed that external evaluators had rated the project highly and said neighbouring countries were showing interest in its construction technology.
The minister expressed confidence in the Tinubu administration’s economic and infrastructure agenda, saying the government remained committed to restoring national prosperity.
“I want to use this opportunity to thank President Bola Ahmed Tinubu. Mr. President is committed to retaking this country. The vision and mission are achievable, and we are on course. This country will be taken back for the good of Nigerians,” Umahi said.
