By| Goodluck E.Adubazi, Abuja
The Federal Government has fixed July 1, 2026, to begin formal engagements with cement manufacturers across the country as part of efforts to address the persistent rise in cement prices and ease pressure on ongoing infrastructure projects.
The Minister of Works, Senator David Umahi, made this known while delivering a keynote address at the unveiling of the new corporate identity of Lafarge Nigeria, now rebranded as HBM, a member of the HUAXIN Group, held at the Lagos Continental Hotel on June 21, 2026.
Umahi expressed concern over the high cost of cement, insisting that manufacturers must reduce prices to prevent further strain on government-funded infrastructure projects.
According to him, the increasing cost of cement has led contractors handling major projects to demand contract reviews and 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 July 1. Manufacturers of cement must reduce their prices because 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 costs,” the minister stated.
He noted that the administration of President Bola Ahmed Tinubu is making substantial investments in critical infrastructure nationwide, creating significant opportunities for manufacturers and investors.
The minister therefore urged HBM and other industry players to expand their production capacity to meet the growing demand generated by ongoing infrastructure projects.
Commending the company on its rebranding and renewed commitment to the Nigerian market, Umahi assured the management of government support and collaboration.
“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 achievements recorded under the Tinubu administration’s Renewed Hope Agenda, particularly in the area of infrastructure development. He cited the Lagos-Calabar Coastal Highway as a major example of the government’s commitment to national transformation.
According to Umahi, the project has continued to attract international recognition due to its scale and quality. He disclosed that international evaluators had described the highway as a world-class infrastructure project and noted growing interest from neighbouring countries in its technology and execution model.
The minister further praised President Tinubu’s leadership and commitment to infrastructure development, expressing confidence that the administration’s vision for economic growth and national prosperity would be achieved.
He assured Nigerians that the government remains focused on delivering projects that will stimulate economic development, improve connectivity, and enhance the quality of life across the country.
The July 1 engagement is expected to bring together major cement manufacturers and government officials in a bid to find lasting solutions to pricing concerns and support the successful execution of critical infrastructure projects nationwide.
