FG to engage cement producers July 1 over high prices — Umahi

Nigeria's Federal Government will begin discussions with cement manufacturers on July 1 to tackle the escalating cost of cement, according to Minister of Works, Engr. David Umahi. The high price of cement is reportedly straining ongoing infrastructure projects and fueling contractors' requests for contract adjustments.

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I want to insist that Lafarge, now HBM, and other manufacturers of cement should reduce their prices. We shall be engaging on this from the first of July.

Umahi made the announcement at the rebranding event of Lafarge, now known as HBM and part of the HUAXIN Group. He urged cement producers, including HBM, to lower their prices. "Manufacturers of cement must reduce their prices because the contractors are choking me to review their contracts," Umahi stated, emphasizing that the onus is on the manufacturers to adjust their costs.

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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’s the manufacturers of cement that should review their costs.

The minister highlighted President Bola Ahmed Tinubu's administration's significant investment in national infrastructure, which presents substantial opportunities for manufacturers and investors. He encouraged HBM and other industry players to expand their production capacity to meet the nation's growing infrastructure needs.

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I commend you very highly, and I say welcome on board, and we are going to work together. The market is smaller than the president’s efforts. So, enlarge your coast.

Umahi also commended the rebranding and commitment to Nigeria, assuring HBM's management of government support. He cited the Lagos-Calabar Coastal Highway as an example of the administration's transformative vision, noting its quality has garnered international recognition. Umahi expressed gratitude to President Tinubu for his leadership, affirming the administration's commitment to restoring prosperity in Nigeria.

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