Umahi Demands Cement Price Cut As Soaring Costs Strain Infrastructure Projects

THE Minister of Works, Senator David Umahi, has called on cement manufacturers to slash their prices, warning that the current exorbitant cost of the product is placing mounting pressure on ongoing infrastructure projects and driving a surge in demands for contract variations.

Mr Umahi made the appeal while delivering a keynote address at the official unveiling of Lafarge’s new corporate identity—now rebranded as HBM, a member of the HUAXIN Group—held at the Lagos Continental Hotel on 21st June 2026.

Addressing industry leaders, investors, and stakeholders, the Minister disclosed that the Federal Government would formally engage cement manufacturers from 1st July to tackle the price crisis head-on.

“I want to insist that Lafarge—now HBM—and other manufacturers of cement should reduce their prices,” Mr Umahi declared. “We shall be engaging on this from the First of July. 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 is the manufacturers of cement that should review their cost.”

He stressed that President Bola Ahmed Tinubu’s administration is channelling unprecedented investment into critical infrastructure nationwide, creating vast opportunities for manufacturers and investors. He urged HBM and other industry players to expand their production capacity to meet the growing demands of the country’s infrastructure revolution.

Commending the company on its transition and renewed commitment to the Nigerian market, Mr Umahi assured its management of the government’s full support and partnership.

“I commend you very highly, and I say welcome onboard—we are going to work together. The market is smaller than what the President is doing. So, enlarge your coast,” he said.

The Minister seized the occasion to highlight what he described as remarkable progress under President Tinubu’s Renewed Hope Agenda, particularly in infrastructure development. He cited the Lagos-Calabar Coastal Highway as a flagship example of the administration’s bold vision and commitment to national transformation.

According to Mr Umahi, the quality and scale of the project have continued to attract global admiration. “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 steal the technology of the coastal highway.”

He expressed profound gratitude to President Tinubu for providing the leadership and political will driving the country’s infrastructure renaissance, assuring Nigerians that the administration remains firmly on course to restore national prosperity.

“I want to use this opportunity to thank President Bola Ahmed Tinubu, and I commit that Mr President is committed to retake 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,” Mr Umahi concluded.