Citing the need for speedy completion of ongoing projects nationwide, the federal government has urged cement manufacturers to consider reducing cement prices.
  
The Minister of Works, David Umahi, made the call in Lagos yesterday at the unveiling of the new corporate identity of Lafarge, which has rebranded as HBM, a member of the HUAXIN Group.

He stated that the current cost of the product was putting pressure on ongoing infrastructure projects.
  
In a statement by his media aide, Francis Nwaze, the minister said the federal government would engage cement manufacturers from July 1 to address the price issue, insisting, however, that all cement manufacturer should reduce their prices as contractors keep pushing for reviews, which he said the government would not do.
 
Meanwhile, Umahi said the President Bola Tinubu administration was investing heavily in critical infrastructure across the country, creating unprecedented opportunities for manufacturers and investors.

Therefore, he urged HBM and other industry players to expand their capacity to meet the growing demands of the nation’s infrastructure revolution.
   
Commending the company on its transition and renewed commitment to the Nigerian market, Umahi assured of government support and partnership, adding that the market is still smaller than what the president is doing.
   
According to him, the quality and scale of the government’s projects have continued to attract global attention and admiration.
   
Meanwhile, HBM Nigeria Plc says the name change would not affect its operations, workforce, customers, shareholders, or its unwavering commitment to Nigeria’s economic growth and infrastructure development.
   
The rebranding followed approval by shareholders at the company’s 67th Annual General Meeting (AGM) to reflect its acquisition by the Chinese cement maker Huaxin Building Materials (HBM).
   
Chairman of the Board of Directors, Gbenga Oyebode, led a vote to rebrand the company as HBM Nigeria Plc at the AGM, following a $1 billion Chinese takeover. The change reflects the company’s continued evolution as one of Nigeria’s leading building solutions providers, combining strong local roots with enhanced global industrial collaboration.
   
Speaking on the transition, the Group Managing Director/Chief Executive Officer, Lolu Alade-Akinyemi, said the new identity signals a forward-looking phase for the company, driven by operational excellence, innovation, sustainability, and long-term value creation.
   
According to him, “HBM Nigeria Plc represents an exciting new chapter in our journey as a leading building solutions company. While our corporate identity is evolving, our commitment to Nigeria remains unwavering.
  
“We remain focused on delivering quality cement, concrete, aggregates, and innovative building solutions that support infrastructure development, housing growth, and industrialisation.
   
In his remarks, the Chairman of HBM Nigeria Plc, Gbenga Oyebode, said the transition is designed to position the company for enduring success while remaining true to the values and principles that have shaped its legacy over the decades.