Minister of Works David Umahi has announced that the federal government will initiate discussions with cement companies starting July 1 to mitigate the surging costs of the building material. The Minister disclosed this while attending the unveiling of the company formerly known as Lafarge, now rebranded as HBM under the HUAXIN Group, at an event in Lagos.
According to a statement from media aide Francis Nwaze, the current pricing of cement is straining infrastructure projects and leading contractors to request contract revisions. Minister Umahi emphasized that manufacturers must lower their prices rather than relying on the government to adjust existing contracts. He urged industry leaders to increase their production capacity to satisfy the nation’s rising infrastructure requirements.
The Minister also praised the ongoing efforts of President Bola Ahmed Tinubu’s administration in developing national infrastructure. He specifically highlighted the Lagos-Calabar Coastal Highway as a project of global standard that has gained international recognition from financial institutions. Umahi reaffirmed the government’s commitment to delivering national prosperity and completing its ambitious infrastructure agenda.
