Umahi Urges Cement Price Cuts Amid Lafarge Rebranding

David Umahi, the Minister of Works, has demanded an immediate reduction in cement prices from manufacturers, warning that rising costs threaten the execution of infrastructure projects across Nigeria. This demand was made during the unveiling of Lafarge Africa Plc's new corporate identity as HBM Nigeria Plc, following its acquisition by China's Huaxin Building Material Group.

Umahi stated that the federal government will engage cement manufacturers starting July 1 to address pricing concerns, ensuring that infrastructure projects are not adversely affected. He emphasized that the rising cement prices place enormous pressure on contractors managing federal projects.

Lolu Alad Akinyemi, the Group Managing Director and Chief Executive Officer of HBM Nigeria Plc, indicated that the name change signals a forward-looking phase for the company while maintaining its commitment to Nigeria's economic development. The rebranding event attracted various stakeholders, including Peter Odei, the Deputy Governor of Cross River State, and highlighted HBM Nigeria Plc's status as one of Nigeria's largest cement producers.