The Federal Government has announced plans to engage cement manufacturers from July 1 to address the soaring cement prices.

Minister of Works, Senator David Umahi, disclosed this while delivering a keynote address at the official unveiling of the new corporate identity of Lafarge, now rebranded as HBM, a member of the HUAXIN Group, at the Lagos Continental Hotel on Sunday night.

Umahi noted the current cost of the product is placing pressure on ongoing infrastructure projects and increasing demands for contract variations and urged manufacturers across the country to immediately reduce the price of cement.

“I want to insist that Lafarge now HBM Plc and other manufacturers of cement should reduce their prices,” Umahi declared.

“We shall be engaging on this from the First of July. Cement Manufacturers must reduce their prices because the contractors are choking me to review their contracts. But nobody is reviewing anybody’s contract. It’s the manufacturers of cement that should review their cost,” he said.

The Minister noted that President Bola Ahmed Tinubu’s administration is investing heavily in critical infrastructure across the country, creating unprecedented opportunities for manufacturers and investors. He urged HBM and other industry players to expand their capacity to meet the growing demands of the nation’s infrastructure revolution.

Commending HBM on its transition and renewed commitment to the Nigerian market, Umahi assured the management of government support and partnership.

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

The Minister used the occasion to highlight the remarkable progress being recorded under President Tinubu’s Renewed Hope Agenda, particularly in the area of infrastructure development.

He pointed to the Lagos-Calabar Coastal Highway as an evidence of the administration’s bold vision and commitment to national transformation.

According to him, the quality and scale of the project have continued to attract global attention and 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 neighboring nations are coming to steal the technology of the coastal highway.”

Umahi expressed profound appreciation 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 promise that Mr President is committed to retaking 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.”