Building Giant HBM Nigeria Begins New Era, Backed by 10.5 Million-Tonne Cement Capacity

By Auwal Ahamd Umar

With an installed cement production capacity of 10.5 million metric tonnes per annum, HBM Nigeria Plc remains one of the largest building materials companies in the country, serving a broad spectrum of customers across the construction value chain.

The company operates cement manufacturing plants in Ogun, Gombe and Cross River states, alongside ready-mix concrete facilities in Lagos, Abuja and Port Harcourt, giving it one of the most extensive production and distribution networks in Nigeria’s construction sector.

Industry observers say the transition from Lafarge Africa Plc to HBM Nigeria Plc signals more than a change of name. It reflects the company’s ambition to deepen its role in supporting Nigeria’s infrastructure expansion, housing development and industrial growth while leveraging the technical expertise and global reach of its parent company, Huaxin Building Materials Group.

The new corporate identity was officially unveiled on Monday, marking a significant milestone in the company’s transformation journey and strategic alignment with its new shareholder structure.

In a statement signed by the Head of Corporate Communications, Ginikanwa Frank-Durugbor, the company said the rebranding underscores its commitment to delivering innovative building solutions while creating sustainable value for stakeholders.

As HBM Nigeria Plc embarks on this new phase, the company says it remains focused on innovation, sustainability and operational excellence, with the goal of creating long-term value for shareholders, customers and the wider Nigerian economy.

Speaking on the transition, the Group Managing Director and Chief Executive Officer, Lolu Alade-Akinyemi, described the new identity as a reflection of the company’s future-focused vision.

“HBM Nigeria Plc represents an exciting new chapter in our journey as a leading building solutions company. While our corporate identity is evolving, our commitment to Nigeria remains unwavering,” he said.

According to him, the company will continue to provide quality cement, concrete, aggregates and innovative building solutions that support infrastructure development, housing growth and industrialisation across the country.

Mr Alade-Akinyemi explained that the transition would be implemented through a phased process across the company’s nationwide operations to ensure seamless business continuity for customers, investors, employees and host communities.

The Chairman of HBM Nigeria Plc, Gbenga Oyebode, said the transition positions the company for long-term success while preserving the values and principles that have guided its operations for decades.

“We are confident that HBM Nigeria Plc will continue to create sustainable value for shareholders, strengthen stakeholder trust and deliver on its long-term ambitions,” he said.

The company noted that while the corporate identity has officially changed, the rollout of branding assets, operational integration and customer-facing communications will continue progressively across all touchpoints to ensure consistency and a seamless experience for stakeholders.

Formerly known as Lafarge Africa Plc, HBM Nigeria Plc is a member of the Huaxin Building Materials Group, a global construction materials manufacturer founded in 1907 and headquartered in Wuhan, China. The company is listed on the Nigerian Exchange Limited and remains one of the key players in Nigeria’s building and construction industry.

Zulum Seeks NPA Partnership to Boost Borno Non-Oil Exports, Create Jobs

By Tada Jutha, Maiduguri

Borno State Governor Babagana Umara Zulum has intensified efforts to diversify the state’s economy by calling on the management of the Nigerian Ports Authority (NPA) to expand support for non-oil exports from the state in order to boost foreign exchange earnings and create employment opportunities for young people.

The governor made the appeal during a high-level meeting with the management of the Nigerian Ports Authority in Lagos on Tuesday, where discussions were centred on unlocking economic opportunities and strengthening value chains for local producers and exporters in Borno State.

Zulum explained that increasing non-oil exports would not only improve internally generated revenue but also open up broader opportunities for businesses, farmers and entrepreneurs across the state.

Since assuming office in 2019, the governor’s administration has consistently pursued policies aimed at diversifying Borno’s economy while creating a safer and more attractive environment for investors and private sector growth.

During the visit, Zulum was received by the managing director and chief executive officer of the NPA, Dr Abubakar Dantsoho, alongside executive director Engr Ibrahim Abba Umar.

The governor’s latest engagement comes months after a similar strategic visit to the Nigerian Shippers’ Council (NSC), where he advocated the speedy completion of the Maiduguri Dry Inland Port project.

The proposed dry port is expected to serve as a major economic hub for Nigeria’s Northeast region by bringing port services closer to businesses operating far from the coastal states.

According to the governor, the project would generate thousands of jobs, increase commercial activities and significantly reduce transportation and logistics costs for traders and manufacturers in the region.

He also noted that the facility would help decongest major seaports in Apapa, Calabar and Warri by easing cargo movement from the southern corridor to the northeast.

In another major economic initiative, the Borno State Government is pushing ahead with plans to establish the African Continental Free Trade Area’s (AfCFTA) center in Banki, a border town between Nigeria and Cameroon.

Zulum disclosed that the process of establishing the free trade zone is already at an advanced stage, describing it as part of a broader economic transformation agenda for the state.

“By simultaneously advancing the Dry Inland Port in Maiduguri and the Free Trade Zone in Banki, the state government is putting in place a coherent strategy to industrialise the state, create jobs, generate revenue and permanently shift the economy away from overdependence on federal allocations,” the governor stated.

Lafarge Africa Doubles Profit to ₦97.9bn in Strong Q1 Performance

By Auwal Ahmad Umar

Lafarge Africa Plc has reported a remarkable financial performance for the first quarter of 2026, posting a Profit After Tax (PAT) of ₦97.95 billion—more than double the ₦48.64 billion recorded in the same period of 2025.

The cement manufacturer’s unaudited financial results show that net sales climbed to ₦334.88 billion in Q1 2026, representing a 35 per cent increase from ₦248.35 billion achieved in the corresponding period last year.

The company attributed the strong growth to improved sales volumes, enhanced operational efficiency, and sustained cost-control measures across its business segments.

Speaking on the results, the Group Managing Director and Chief Executive Officer, Lolu Alade-Akinyemi, said the performance reflects the company’s disciplined execution of its strategic priorities.

“Our Q1 2026 results reflect continued progress in executing our strategic priorities. Net sales grew by 35 per cent year-on-year, supported by improved volumes, enhanced plant stability, and distribution efficiency,” he said.

He added that operating profit surged by 97 per cent to ₦141 billion, while profit after tax rose by 101 per cent, driven by supply assurance, prudent financial management, and a more efficient route-to-market strategy.

Alade-Akinyemi noted that the company is leveraging the expertise of its technical partner, Huaxin Building Materials Ltd, to further optimise operations and unlock additional efficiency gains.

According to him, Lafarge Africa will maintain strict cost discipline and focus on strategic capital deployment to sustain growth momentum, even as macroeconomic conditions gradually improve.

He explained that easing economic pressures and reduced global supply chain disruptions have supported stronger consumer demand, contributing to the company’s volume growth.

Looking ahead, the CEO expressed optimism about Nigeria’s infrastructure and construction sector, noting that expanding demand across key segments is expected to drive further growth.

“We anticipate continued market expansion from Nigeria’s infrastructure and construction sector demand, underpinned by improving economic fundamentals. We remain focused on capturing volume growth opportunities while maintaining cost optimisation to safeguard margins,” he said.

He also appreciated customers and stakeholders for their continued support, reaffirming the company’s commitment to delivering consistent performance and long-term shareholder value.

Lafarge Africa said it will continue to prioritise supply reliability, cost leadership, innovation, and sustainability initiatives, while maintaining high standards in health and safety across its operations.