The Minister of Works, Senator David Umahi, has urged cement manufacturers to reduce the price of cement, saying the rising cost of the commodity is putting pressure on ongoing infrastructure projects and triggering demands for contract variations.
According to a statement signed by the Senior Special Assistant to the Minister of Works on Media, Francis Nwaze, Umahi made the appeal while delivering the keynote address at the unveiling of the new corporate identity of Lafarge Nigeria, now rebranded as HBM, a member of the HUAXIN Group, at the Lagos Continental Hotel on Sunday.
The minister said the Federal Government would begin formal engagements with cement manufacturers from July 1 to address pricing concerns, stressing that contractors should not bear the burden of escalating production costs.
“I want to insist that Lafarge, now HBM, and other manufacturers of cement should reduce their prices. We shall be engaging on this from July 1. Manufacturers of cement 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 noted that the administration of President Bola Ahmed Tinubu is making unprecedented investments in critical infrastructure nationwide, creating expanded opportunities for manufacturers and investors.
Umahi urged HBM and other industry players to increase production capacity to meet the growing demand generated by ongoing road and infrastructure projects across the country.
Commending the company’s transition under its new ownership, the minister assured the 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, so enlarge your capacity,” he said.
The minister also highlighted what he described as the achievements of the Tinubu administration’s Renewed Hope Agenda, particularly the Lagos-Calabar Coastal Highway project, which he said has attracted international recognition for its quality and engineering standards.
The minister said international evaluators had praised the project, adding that neighbouring countries were showing interest in the technology being deployed for its construction.
According to him, international evaluators have praised the project, while neighbouring countries are showing interest in the technology being deployed for its construction.
Umahi expressed confidence that the administration’s infrastructure drive would contribute significantly to national development and economic growth.
He also reaffirmed President Tinubu’s commitment to repositioning the country, saying the administration remains focused on delivering its vision for Nigeria.
“I want to thank President Bola Ahmed Tinubu. Mr. President is committed to retaking this country. He knows what he is doing. The vision and mission are achievable, and we are on course. This country will be taken back for the good of Nigerians,” he said.
