The Minister of Works, David Umahi, has called on cement manufacturers to urgently reduce the price of cement, warning that the rising cost is putting Nigeria’s infrastructure development projects under serious strain.
Umahi made the demand in Lagos during the unveiling of the new corporate identity of Lafarge Africa Plc, which has now been rebranded as HBM Nigeria Plc following its acquisition by China’s Huaxin Building Materials Group.
The minister said the continuous increase in cement prices is already affecting the execution of federal road and bridge projects nationwide, with contractors increasingly pushing for upward reviews of existing contracts.
‘Reduce Cement Prices Now’ – Umahi Tells Manufacturers
Addressing industry stakeholders, investors, and government officials, Umahi insisted that cement producers must play a more active role in supporting national development by ensuring affordability.
“I want to insist that Lafarge, now HBM, and other manufacturers of cement should reduce their prices,” the minister said.
He warned that the Federal Government would begin formal engagements with cement manufacturers from July 1 to address pricing concerns and safeguard ongoing infrastructure projects.
According to him, the cement industry is benefiting significantly from government-led infrastructure expansion and must reciprocate by ensuring fair pricing.
Government Moves to Stabilise Construction Costs
Umahi explained that escalating cement costs are increasing project execution risks and placing additional financial pressure on contractors handling public works across the country.
He added that the planned engagement with manufacturers will focus on achieving a balance between industry profitability and national infrastructure needs.
Lafarge Rebrands as HBM Nigeria Plc
At the same event, the company formerly known as Lafarge Africa Plc officially unveiled its new identity as HBM Nigeria Plc, marking a new phase following its acquisition by Huaxin Building Materials Group.
Group Managing Director and Chief Executive Officer, Lolu Alade-Akinyemi, said the rebranding reflects a new corporate direction while maintaining operational stability.
“HBM Nigeria Plc represents an exciting new chapter in our journey as a leading building solutions company. While our corporate identity is evolving, our values remain the same,” he said.
He assured stakeholders that the transition would not affect operations, workforce, or customer relationships, noting that the process would be implemented in phases across the company’s facilities nationwide.
Company Reaffirms Commitment to Nigeria
Chairman of HBM Nigeria Plc, Gbenga Oyebode, also reaffirmed the company’s long-term commitment to Nigeria’s economic development, describing the transition as a strategic step for sustainable growth.
He expressed confidence that the new identity would strengthen investor confidence, enhance stakeholder trust, and support long-term value creation.
Industry Presence and Capacity
The unveiling ceremony attracted top government officials, state representatives, traditional rulers, and industry leaders.
HBM Nigeria Plc remains one of the country’s largest cement producers, with operations across Ogun, Gombe, and Cross River States, as well as ready-mix facilities in Lagos, Abuja, and Port Harcourt. The company has an installed capacity of 10.5 million metric tonnes per annum.
