The Minister of Works, David Umahi, has called for a reduction in cement prices in Nigeria, urging manufacturers to support the Federal Government’s infrastructure and housing development efforts by making the product more affordable.
Umahi made the appeal during the rebranding ceremony of Lafarge Africa Plc to HBM. He noted that cement remains a critical component of road construction, housing projects, and other infrastructure developments, stressing that lower prices would help accelerate ongoing projects and reduce construction costs nationwide.
The minister expressed concern over the high cost of cement despite the availability of raw materials and local production capacity in the country. He said affordable cement prices would not only benefit government projects but also ease the financial burden on individuals and private developers undertaking building projects.
Speaking at the event, officials of HBM reaffirmed the company’s commitment to maintaining quality standards and contributing to Nigeria’s economic growth through continued investment in manufacturing and sustainable business practices.
Industry stakeholders noted that cement prices have remained a major concern for builders and property developers, with rising construction costs affecting housing delivery and infrastructure expansion across the country. They added that stable and affordable pricing could significantly improve access to housing and stimulate activity within the construction sector.
Analysts believe that collaboration between government and cement manufacturers will be essential to addressing cost challenges and supporting the country’s broader development objectives, particularly in housing and infrastructure.
The minister reiterated the government’s commitment to expanding infrastructure and creating an enabling environment for industrial growth while encouraging manufacturers to align with national development priorities.
