FG Urges Cement Manufacturers to Cut Prices Immediately

On July 1, 2023, during a keynote address in Lagos State, Nigerian Minister of Works David Umahi urged cement manufacturers across the country to immediately reduce their prices. He emphasized that the current high cost of cement is placing significant pressure on ongoing infrastructure projects, which are experiencing increased demand due to contract variations.

Umahi stated that the Federal Government is actively engaging with cement manufacturers to address the pricing issue, highlighting that contractors are being adversely affected as they cannot review their contracts without adjustments in cement costs. He called for manufacturers to expand their capacity to meet the rising demand driven by ongoing construction activities.

The Minister's remarks reflect the government's commitment to ensuring that infrastructure development is not hindered by escalating material costs.