FG sets July 2026 meeting with cement manufacturers over high prices
By Aboki Forex —
The Federal Government has told cement manufacturers to lower their prices nationwide. Minister of Works, David Umahi, said a meeting will be held on July 1, 2026 to discuss strategies to stop consistent price hikes.
Umahi spoke on Sunday, June 21, at the unveiling of Lafarge Africa's new brand, HBM, after its acquisition by China's HUAXIN Group. He warned that high cement costs are hurting infrastructure projects and forcing contractors to demand contract reviews.
The minister said manufacturers should cut production costs instead of expecting the government to adjust contracts. He stated: 'Manufacturers of cement must reduce their prices because the contractors are choking me to review their contracts. Nobody is reviewing anybody's contract. It is the manufacturers of cement that should review their costs.'
Umahi added that lowering cement prices will reduce infrastructure delivery costs and make housing more affordable for Nigerians. He also urged HBM and other producers to boost production capacity to meet rising demand driven by President Bola Tinubu's infrastructure push.