The Federal Government has called on cement manufacturers across the country to immediately reduce the price of cement, insisting that the current cost of the product is placing pressure on ongoing infrastructure projects and increasing demands for contract variations.
In a statement issued on Monday said, the Minister of Works, David Umahi, made the call while delivering a keynote address at an event in Lagos State on Sunday.
The statement signed by his Media aide, Francis Nwaze, in Abuja, on Monday.
The minister said the high cost of cement was placing pressure on ongoing infrastructure projects and increasing contractors’ demands for contract variations.
“I want to insist that Lafarge, now HBM, and other manufacturers of cement should reduce their prices. We shall be engaging on this from the first of July,” Umahi stated.
“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’s the manufacturers of cement that should review their costs,” he added.
Umahi noted that President Bola Ahmed Tinubu’s administration is investing heavily in critical infrastructure nationwide, creating unprecedented opportunities for manufacturers and investors.
He urged HBM and other industry players to expand production capacity to meet the growing demands of the nation’s infrastructure revolution.
While commending the company on its rebranding and renewed commitment to Nigeria, the minister assured the management of government support and partnership.