Business Briefings
Lafarge Africa Expands Cement Plants to Boost Production and Efficiency
Lafarge Africa Plc, a leading provider of building solutions in Nigeria, has announced plans to expand its cement production capacity through significant upgrades to its Sagamu Cement Plant in Ogun State and Ashaka Cement Plant in Gombe State.
According to a statement released by the company on Wednesday, both plants will feature modern dry production technologies, including preheater kilns, vertical raw mills, and roller presses. These enhancements aim to improve energy efficiency, reduce operational costs, and strengthen product output.
A notification sent to the Nigerian Exchange Limited and signed by company secretary Adewunmi Alode revealed that the expansions are expected to increase annual production capacity to 3.5 million metric tonnes for Sagamu and two million metric tonnes for Ashaka once fully operational. The company emphasised that this development will enhance the availability of cement products across key markets and enable more efficient service to its customers.
Lafarge Africa’s Group Managing Director and CEO, Lolu Alade-Akinyemi, highlighted that the investment signals the company’s long-term confidence in Nigeria’s economic growth. “This strategic expansion is designed not only to grow our capacity but also to drive operational excellence, support national infrastructure development, and generate value for shareholders, customers, and host communities,” he said.
Alade-Akinyemi further explained that integrating modern production technologies will enhance reliability, environmental performance, and energy efficiency, reinforcing Lafarge Africa’s commitment to sustainable and responsible operations. The company stressed its focus on disciplined execution, transparency, and stakeholder engagement throughout the project.
The expansion aligns with the acquisition of 83.81 per cent of Lafarge Africa Plc by China’s Huaxin Building Materials Group last year, demonstrating a sustained commitment to the development of Nigeria’s construction and infrastructure sector.
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Nigeria’s Pension assets surge to ₦28 trillion, record growth in January
By: Amarachi Okonkwo The Nigerian pension fund industry kicked off 2026 on a strong note, with total pension fund assets rising to ₦28.04 trillion as of 31 January, marking a 22.64% increase from ₦22.86 trillion in January 2025.According to the latest report on the pension fund industry portfolio, the sector recorded a monthly growth of…
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NNPCL under fire as Senate probes N210tn Audit Gap, summons Ex-Boss Kyari
By: Amarachi Okonkwo Nigeria’s upper legislative chamber has summoned the immediate past Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, over an alleged N210 trillion that lawmakers say was not properly accounted for by the national oil company between 2017 and 2023.Also invited are the former Chief Financial Officer,…
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U.S., China Pressure Ghana Over Proposed Gold Royalty Increase
The United States, China, and several Western governments are applying diplomatic pressure on Ghana to reconsider a planned increase in gold royalties, which mining companies say could significantly raise operating costs for major producers. Sources familiar with the matter and a letter from an industry group, reported by Reuters, revealed the international concern over Ghana’s…