The Federal Government will begin engaging cement manufacturers from July 1, 2026, to address the escalating price of cement across Nigeria.
The Minister of Works, Senator David Umahi, made this announcement at the unveiling of Lafarge’s new corporate identity, now rebranded as HBM, a member of the HUAXIN Group, at the Lagos Continental Hotel.
This was contained in a statement signed by his Media aide, Francis Nwaze, in Abuja, on Monday.
Umahi said the high cost of cement was placing pressure on ongoing infrastructure projects and increasing contractors’ demands for contract variations.
“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,” the minister stated.
“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,” he added.
Umahi noted that President Bola Ahmed Tinubu’s administration is investing heavily in critical infrastructure nationwide, creating unprecedented opportunities for manufacturers and investors.
He urged HBM and other industry players to expand production capacity to meet the growing demands of the nation’s infrastructure revolution.
While commending the company on its rebranding and renewed commitment to Nigeria, the minister assured the management of government support and partnership.
He said, “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.”
The minister highlighted progress under the Renewed Hope Agenda, citing the Lagos-Calabar Coastal Highway as evidence of the administration’s bold vision for national transformation.
He said the quality and scale of the project had attracted global attention, with foreign institutions acknowledging its standard.
“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 nations are coming to steal the technology of the coastal highway,” Umahi stated.
Umahi expressed appreciation to President Tinubu for the leadership and political will driving the country’s infrastructure renaissance, assuring Nigerians that the administration remained on course to restore prosperity.
“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,” he said.
