By Becky Momodu
The Minister of Works, Senator David Umahi, has called on cement manufacturers across Nigeria to reduce the price of cement, warning that rising costs are putting pressure on infrastructure projects and fueling demands for contract reviews.
Umahi made the appeal on Sunday while delivering the keynote address at the unveiling of the new corporate identity of Lafarge Nigeria, now rebranded as HBM following its acquisition by the HUAXIN Group.
The event was held at the Lagos Continental Hotel and attended by industry leaders, investors and other stakeholders.
This was contained in a statement on Monday, 22nd June, 2026, by Francis Nwaze Senior Special Assistant on Media and Publicity.
The minister disclosed that the Federal Government would begin engagements with cement manufacturers from July 1 to address concerns over escalating cement prices, which he said are affecting the execution of critical road and infrastructure projects nationwide.
“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 pressuring me to review their contracts. But nobody is reviewing anybody’s contract. It is the manufacturers of cement that should review their costs.”
According to him, the administration of President Bola Tinubu is investing massively in infrastructure development across the country, creating new opportunities for manufacturers and investors.
He urged HBM and other industry players to expand production capacity to meet the growing demand generated by ongoing federal projects.
Commending the company for its transition and renewed commitment to Nigeria, Umahi assured its management of the government’s readiness to collaborate in advancing industrial growth and infrastructure development.
“I commend you very highly and say welcome on board. 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 significant achievements of the Tinubu administration under the Renewed Hope Agenda, particularly in the area of infrastructure.
He cited the Lagos-Calabar Coastal Highway as a landmark project that has attracted international attention due to its scale and engineering quality.
According to Umahi, independent assessments of the project have underscored its value and strategic importance to regional development.
“When the Dudge 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 learn from the technology being deployed on the Coastal Highway,” he stated.
The minister expressed confidence in President Tinubu’s vision for the country, saying the administration remains committed to restoring economic growth and national prosperity through strategic investments and reforms.
“I want to use this opportunity to thank President Bola Ahmed Tinubu. I can assure Nigerians that Mr. President is committed to retaking this country. He 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,” Umahi said.
He reaffirmed the Federal Government’s commitment to sustaining infrastructure development as a key driver of economic transformation and national development.