Rising Cement Prices Strain Nigerian Infrastructure Projects

David Umahi, the Minister of Works, lamented the rising cost of cement in Nigeria, which is putting pressure on government infrastructure projects. During the unveiling of a new corporate identity for Lafarge Africa and HBM Cement in Lagos, Umahi stated that the high cost of cement has led contractors to seek upward reviews of contract sums.

He revealed that the federal government began engaging cement manufacturers on July 1 to address the issue of escalating prices. Umahi noted that President Bola Tinubu's administration is committed to making substantial investments in critical infrastructure across the country to create significant opportunities for manufacturers and investors.

He urged HBM Cement to expand its production capacity to meet the growing demand driven by the government's infrastructure development agenda. Umahi also emphasized the need for Lafarge and HBM Cement to reduce prices, as contractors are mounting pressure for contract reviews due to the increased costs.