Nigeria’s Federal Government is demanding that local cement producers lower their prices without delay. Minister of Works, David Umahi, stated that the current high costs are straining national infrastructure projects and triggering frequent requests for contract adjustments.
Addressing attendees at a Lagos event on Sunday, Umahi confirmed that the government plans to meet with industry leaders starting July 1 to negotiate better pricing. He noted that contractors are under significant financial strain but clarified that the government will not be reviewing contract values. Instead, he placed the burden on manufacturers to adjust their pricing strategies.
The Minister also encouraged companies to scale up their production capabilities. He argued that the current market supply is insufficient to meet the construction demands generated by government initiatives, advising firms to expand their operations to keep pace with national development goals.
