The Chairman of the Nigerian Exchange Group (NGX Group), Dr Umaru Kwairanga, has described the transition of Lafarge Africa Plc to HBM Nigeria Plc as the beginning of a new era of growth, investment opportunities and economic impact for the company and its stakeholders.
Speaking during the official unveiling of the company’s new corporate identity in Lagos on Sunday, Kwairanga congratulated the management, employees and shareholders of HBM Nigeria Plc, noting that the rebranding marks a significant milestone in the company’s long history.
He said HBM Nigeria Plc has remained one of Nigeria’s most influential cement manufacturers since commencing operations at its Ewekoro plant in 1960, contributing significantly to the nation’s infrastructure and industrial development.
“HBM Nigeria Plc is not just a company with a rich history; it is an institution that has played a significant role in Nigeria’s infrastructure and construction sector for decades,” he said.
Kwairanga praised the company for its resilience, commitment to sustainable business practices and strong relationships with host communities, attributes he said have strengthened its reputation over the years.
He also commended the company’s performance in the Nigerian capital market, highlighting its position as one of the few firms listed on the NGX Premium Board.
“HBM Nigeria Plc has consistently met and exceeded the stringent requirements expected of companies on the Premium Board. This reflects its commitment to transparency, sound corporate governance and responsible business conduct,” he said.
The NGX chairman expressed confidence that the company would continue to strengthen its leadership position while creating long-term value for investors and other stakeholders.
Commenting on the company’s new ownership structure, Kwairanga said previous transitions had contributed positively to its growth trajectory and expressed optimism that the latest change would deliver even greater results.
“With Huaxin Building Materials Group now serving as the majority shareholder, we expect to see stronger business performance, increased profitability, enhanced sustainability and greater benefits for all stakeholders,” he said.
He further applauded the company’s commitment to expanding Ashaka Cement in Gombe State, describing the project as a strategic investment capable of boosting production, stimulating economic activities and creating employment opportunities across the North-East region.
“As a former chairman of Ashaka Cement, I know how important this expansion project is to the people of Gombe State. Its completion will boost production capacity, stimulate economic activities and create much-needed employment opportunities,” he said.
Kwairanga expressed satisfaction that the project remains central to the company’s future plans and said he looks forward to witnessing the commissioning of the expanded facility.
He congratulated HBM Nigeria Plc on its rebranding and wished the company success as it embarks on a new chapter under its new identity, with expectations of stronger growth, wider economic impact and increased value creation.
