A new chapter has opened in Nigeria’s building materials industry as Lafarge Africa Plc officially unveiled its new corporate identity and name, HBM Nigeria Plc, following a change in ownership structure and strategic direction.

The rebranding marks a significant milestone in the company’s transformation journey and aligns with its integration into the global operations of Huaxin Building Materials Group, a leading Chinese construction materials company.

The company assured stakeholders that the transition to HBM Nigeria Plc would not affect its operations, workforce, customers, shareholders or longstanding commitment to supporting Nigeria’s economic growth and infrastructure development.

Huaxin, a Chinese building materials giant established in 1907, recently acquired the controlling stake previously held by Holcim in Lafarge Africa, paving the way for the company’s new identity.

Speaking during the unveiling ceremony in Lagos, Group Managing Director and Chief Executive Officer, Lolu Alade-Akinyemi, described the rebranding as a strategic move designed to position the company for future growth while maintaining its strong presence in Nigeria’s construction sector.

“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.

Alade-Akinyemi noted that the company would continue delivering high-quality cement, concrete, aggregates and innovative building solutions aimed at supporting infrastructure development, housing expansion and industrialisation across the country.

According to him, the transition will be implemented through a structured and phased process across the company’s nationwide operations to ensure seamless business continuity.

He added that the company remains focused on operational excellence, innovation, sustainability and long-term value creation for shareholders and other stakeholders.

Chairman of HBM Nigeria Plc, Gbenga Oyebode, said the new corporate identity is designed to strengthen the company’s position for long-term success while preserving the values and principles that have defined its legacy over the years.

Oyebode expressed confidence that the company would continue to create sustainable value, strengthen stakeholder trust and contribute significantly to Nigeria’s economic development.

Also speaking at the event, Minister of Works, David Umahi, commended the company for its contributions to Nigeria’s infrastructure development through the execution of major construction and building projects across the country.

The rebranding signals a new era for the company as it seeks to leverage global expertise, advanced technology and expanded industrial collaboration to deepen its impact on Nigeria’s construction and infrastructure sectors.

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Lafarge Africa Plc has confirmed the appointment of five directors and the re-election of three others following resolutions passed at its 67th Annual General Meeting held in Lagos.

The company disclosed this in its AGM resolutions dated May 5, 2026, after the meeting held on April 30 at the Grand Banquet Hall of the Civic Centre, Victoria Island.

The resolutions were certified by the Company Secretary, Adewunmi Alode, and the Group Managing Director/Chief Executive Officer, Lolu Alade-Akinyemi.

According to the resolutions, shareholders ratified the appointment of five directors, including Wang Xuanqian as Executive Director.

The company also confirmed the appointments of Gang Xu, Qian Chen, Jiajun Wang, and Lin Zhang as Non-Executive Directors.

In addition, shareholders approved the re-election of board chairman, Gbenga Oyebode, as Non-Executive Director, alongside Oyinkansade Adewale and Olusola Oworu as Independent Non-Executive Directors.

Beyond the board changes, shareholders approved a final dividend of N6 per ordinary share for the 2025 financial year, amounting to a total payout of approximately N96.6 billion, subject to applicable taxes.

The company also authorised its directors to determine the remuneration of external auditors for the 2026 financial year and approved the election of shareholder and board representatives into the statutory audit committee.

As part of governance measures, shareholders fixed the remuneration of Non-Executive Directors at N146.4 million for the 2026 financial year.

They also granted the company a general mandate to undertake related-party transactions required for day-to-day operations under normal commercial terms.

In another major development, shareholders approved a change in the company’s corporate identity from Lafarge Africa Plc to HBM Nigeria Plc, including amendments to its Memorandum and Articles of Association.

The approvals followed a strong financial performance by the cement manufacturer in 2025.

The company reported revenue of N1.1 trillion for the financial year, representing a 53 per cent increase from the N696.8 billion recorded in 2024.

Profit after tax also surged by 173 per cent to N273 billion, supported by improved sales volumes, enhanced plant stability, cost management measures, and stronger distribution operations.

Operating profit more than doubled during the year, while earnings per share increased from N6.22 to N17.

The company also disclosed that expansion projects at its Ashaka and Sagamu plants are ongoing and expected to increase total installed production capacity to 14 million metric tonnes per annum.

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