Chairman of the Nigerian Exchange Group (NGX Group), Dr. Umaru Kwairanga, has congratulated the management, employees and shareholders of HBM Nigeria Plc on the company’s transition from Lafarge Africa Plc, describing the rebranding as the beginning of a new era of growth and opportunity.
Kwairanga made the remarks during the official unveiling of the company’s new corporate identity in Lagos on Sunday, where he highlighted HBM Nigeria Plc’s longstanding contributions to Nigeria’s industrialisation and economic development.
According to him, the company has remained one of the nation’s leading cement manufacturers since the commencement of operations at its Ewekoro plant in 1960.
“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.
The NGX chairman noted that the company has consistently demonstrated resilience, maintained strong relationships with host communities and embraced sustainable business practices that have strengthened its reputation over the years.
He also commended the company’s performance in the Nigerian capital market, noting that it remains one of the few firms listed on the Premium Board of the Nigerian Exchange.
“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,” Kwairanga stated.
He expressed confidence that the company would continue to strengthen its leadership position in the capital market while delivering sustainable value to investors and other stakeholders.
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Commenting on the company’s new ownership structure, Kwairanga said previous ownership transitions had positively impacted its growth trajectory and expressed optimism that the latest development would yield 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.
The NGX chairman also praised the company’s commitment to expanding Ashaka Cement in Gombe State, describing the project as a strategic investment capable of stimulating economic growth in 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 expansion project remains a priority in the company’s future plans and voiced hope that it would be completed soon.
“I hope to receive an invitation to the commissioning of the expanded Ashaka Cement facility in the near future,” he added.
He congratulated HBM Nigeria Plc on its rebranding and wished the company continued success as it embarks on a new chapter under its new identity.
