Umahi demands price cut, set to engage cement manufacturers

By Precious Mark

The Minister of Works, David Nweze Umahi has called on cement manufacturers across the country to immediately reduce the price of cement.

Umahi decried that the current cost of cement is putting pressure on ongoing infrastructure projects and driving up contract variations.

The Minister made the call while delivering the keynote address at the official unveiling of the new corporate identity of Lafarge, now rebranded as HBM, a member of the HUAXIN Group, held at the Lagos Continental Hotel.

He said the Federal Government will begin formal engagement with cement producers from July 1, 2026, over what he described as the rising and unsustainable cost of cement in the country.

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

“We shall be engaging on this from First of July. Manufacturers of cement must reduce their prices because the contractors are choking me to review their contracts. But nobody is reviewing anybody’s contract. It is the manufacturers of cement that should review their cost,” Umahi said.

The Minister stressed that President Bola Ahmed Tinubu is driving massive infrastructure development across the country, saying the scale of ongoing projects is creating new opportunities for investors and manufacturers.

He urged HBM and other industry players to expand their production capacity to meet rising demand, noting that Nigeria’s infrastructure expansion under the current administration is unprecedented.

Commending the company’s rebranding, Umahi assured government support and described the Nigerian market as expanding beyond current supply levels.

“The market is smaller than what the President is doing. So, enlarge your coast,” he said.

He also pointed to the Lagos-Calabar Coastal Highway as a key example of ongoing infrastructure projects, saying it has attracted global attention due to its scale and quality.

“When the Dudge Bank came to evaluate our project, they said it was undervalued and that the project is of topmost quality,” Umahi said, adding that neighbouring countries are showing interest in the project’s engineering approach.”

“I want to use this opportunity to thank President Bola Ahmed Tinubu and I commit that Mr. President is committed to retake this country. The vision and mission are achievable and we are on course and this country will be taken back for the good of Nigerians,” he said.