Nigeria urges cement makers to cut prices immediately

The Federal Government has called on cement manufacturers to immediately reduce prices, warning that high costs are straining national infrastructure projects and prompting contractors to seek expensive contract revisions. Minister of Works David Umahi issued the appeal on Sunday, June 21, while speaking at an event in Lagos to mark the rebranding of Lafarge Africa to HBM following its acquisition by China-based HUAXIN Group.

Umahi stated that the rising cost of cement has become a major concern, directly affecting the budgets for building roads, bridges, and housing. He explained that many contractors are pressuring the government to increase project funding due to the surge in material costs, but he insisted the government will not approve such contract variations. Instead, he placed the responsibility on producers to adjust prices and improve efficiency.

The minister announced that formal discussions between the government and cement manufacturers will begin on July 1 to find a lasting solution to the pricing issue. He stressed that reducing costs is essential to keep critical infrastructure projects on schedule without delays or budget overruns.