High Cement Prices Strain Road Project Funding

• Seeks price cut to curb frequent contract changes

Minister of Works David Umahi urged cement producers nationwide to lower their prices, arguing that high cement costs are straining current road projects and driving up requests for contract amendments.

Umahi made the appeal during his keynote speech at the launch of the new corporate identity for Lafarge, now HBM, a member of the HUAXIN Group, which took place at the Lagos Continental Hotel.

A statement from the minister’s spokesman, Francis Nwaze, said that Umahi highlighted the federal government’s plan to engage cement manufacturers starting July 1 to address pricing concerns.

“I want to insist that Lafarge now HBM and other cement manufacturers reduce their prices. We will be engaging on this from the 1st of July. Manufacturers must lower their prices because contractors are forcing me to review their contracts. But no one is reviewing anyone’s contract. It’s the manufacturers of cement that should review their costs,” he said.

The minister noted that President Bola Tinubu’s administration is investing heavily in critical infrastructure nationwide, creating significant opportunities for manufacturers and investors. He called on HBM and other industry players to expand capacity to meet the nation’s growing infrastructure needs.

He praised the company’s transition and renewed commitment to the Nigerian market, assuring its management of government support and partnership.

On the occasion, the minister highlighted the progress achieved under Tinubu’s administration, especially in infrastructure development. He cited the Lagos‑Calabar Coastal Highway as evidence of the administration’s bold vision and commitment to national transformation.

According to him, the project’s quality and scale have attracted global attention and admiration.

“When Deutsche Bank came to evaluate our project, they said it was undervalued and that the project is of top‑class quality. Today, our neighbouring nations are coming to steal the technology of the coastal highway,” he boasted.

Umahi thanked Tinubu for the ‘leadership and political will’ driving the country’s infrastructure renaissance, assuring Nigerians that the administration remains firmly on course to restore national prosperity.