The Minister of Works, Sen. Dave Umahi, has called on cement manufacturers to reduce the price of the commodity, saying the current cost is increasing pressure on infrastructure project implementation.
Umahi made the call in a keynote address at the unveiling of the new corporate identity of Lafarge Nigeria, now rebranded as HBM, a member of the HUAXIN Group, on Sunday in Lagos.
He also said the high cost of cement was prompting contractors to seek contract variations.
The minister said the Federal Government would begin to engage with cement manufacturers from July 1, to address rising cement price.
“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 pressuring me to review their contracts.
“However, nobody is reviewing anybody’s contract. It is the manufacturers of cement that should review their costs,” he said.
Umahi said that the administration of President Bola Tinubu was making significant investments in critical infrastructure across the country, creating opportunities for manufacturers and investors.
He urged HBM and other industry players to expand their production capacities to meet the growing demand arising from ongoing infrastructure project implementation.
The minister commended the company for its transition and renewed commitment to the Nigerian market, assuring it of government support and collaboration.
“I commend you very highly and welcome you onboard. We are going to work together.
“The market is smaller than what the President is doing; so, enlarge your capacity,” he said.
Umahi highlighted achievements recorded under the Tinubu administration’s Renewed Hope Agenda, particularly in infrastructure development.
He cited the Lagos-Calabar Coastal Highway as evidence of the administration’s commitment to transforming the nation’s economy through strategic infrastructure investments.
According to him, the quality and scale of the project have attracted international attention and recognition.
“When the Dutch Bank came to evaluate our project, it said it was undervalued and of topmost quality.
“Today, our neighbouring countries are coming to study the technology being deployed on the coastal highway project,” he said.
The minister expressed appreciation to Tinubu for providing the leadership driving the country’s infrastructure development efforts.
He assured Nigerians that the administration remained committed to delivering on its development agenda and improving the nation’s prosperity.
Umahi said: “I want to use this opportunity to thank President Bola Tinubu. The 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 ensure that this country is restored for the benefit of Nigerians,” Umahi said.
