The Minister of Works, Senator David Umahi, has called on cement manufacturers across Nigeria to immediately reduce the price of cement, warning that the soaring cost of the commodity is putting pressure on ongoing infrastructure projects and triggering demands for contract variations by contractors.
Umahi made the call while delivering a keynote address at the official unveiling of the new corporate identity of Lafarge, now rebranded as HBM, a member of the HUAXIN Group, at the Lagos Continental Hotel on Saturday, June 21, 2026.
Addressing industry leaders, investors and stakeholders at the event, the Minister disclosed that the Federal Government would commence engagement with cement manufacturers from July 1 to address the issue of rising cement prices.
“I want to insist that Lafarge, now HBM, and other manufacturers of cement should reduce their prices,” Umahi said.
“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’s the manufacturers of cement that should review their costs,” he stated.
The Minister noted that the administration of President Bola Ahmed Tinubu was making huge investments in critical infrastructure across the country, creating enormous opportunities for manufacturers and investors.
He urged HBM and other players in the industry to expand their production capacity to meet the increasing demands occasioned by the Federal Government’s infrastructure drive.
Commending the company for its transition and renewed commitment to the Nigerian market, Umahi assured its management of the Federal Government’s support and partnership.
“I commend you very highly and I say welcome on board, and we are going to work together. The market is smaller than what the President is doing, so enlarge your capacity,” he said.
The Minister also highlighted what he described as the achievements of President Tinubu’s Renewed Hope Agenda, particularly in the area of infrastructure development, citing the Lagos-Calabar Coastal Highway as evidence of the administration’s commitment to national transformation.
According to him, the quality and scope of the project have attracted international recognition and admiration.
“When the Dutch Bank came to evaluate our project, they said it was undervalued and that the project is of topmost quality. Today, our neighbouring countries are coming to study and adopt the technology used in the Coastal Highway project,” Umahi stated.
He expressed appreciation to President Tinubu for providing the leadership and political will behind what he described as the country’s infrastructure renaissance, assuring Nigerians that the administration remained committed to restoring prosperity and rebuilding the nation.
“I want to use this opportunity to thank President Bola Ahmed Tinubu, and I assure Nigerians that Mr. President is committed to retaking this country. The President 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,” the Minister added.
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