The Federal Government calls on cement manufacturers nationwide to immediately reduce cement prices, saying current costs are increasing pressure on ongoing federal infrastructure projects. Minister of Works David Umahi makes the request while speaking at an event in Lagos State on Sunday. He links high cement prices to growing demands by contractors for contract variations and contract reviews, which he says the government will not approve as a response to manufacturers’ pricing.
Umahi states that manufacturers should instead review their own cost structures, arguing that the burden on projects is driven by cement pricing rather than by contractor actions. He also tells industry leaders that demand for cement is rising because construction activity is ongoing, and urges manufacturers to increase production capacity to meet the higher market demand. The reports add that the Federal Government plans to engage cement manufacturers starting July 1 to address the pricing concerns.
