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 to HBM Nigeria Plc.
Kwairanga, in a statement on Monday, said the move represented the beginning of a new phase of growth and opportunity.
The NGX chairman spoke on Sunday in Lagos during the official unveiling of the company’s new corporate identity, where he highlighted the firm’s longstanding contributions to the nation’s industrial and economic development.
He noted that the company had remained one of the country’s most prominent cement manufacturers since the beginning of its operations at 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.
According to him, the company has consistently demonstrated resilience, maintained strong relationships with host communities and embraced sustainable business practices that had strengthened its reputation over the years.
The NGX chairman also commended the company’s record on the Nigerian capital market, adding that it remained one of the few firms listed on the Exchange’s 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.
Kwairanga expressed confidence that the company would continue to maintain its leadership position in the capital market while delivering value to investors and other stakeholders.
Speaking on the company’s new ownership structure, he said previous transitions had contributed positively to its growth and expressed optimism that the latest change would produce 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.
Dr Kwairanga also commended the company for prioritizing the expansion of Ashaka Cement in Gombe State, describing the project as a strategic investment with significant economic benefits for 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.
He expressed satisfaction that the project remains a key focus of the company’s future plans and said he looked forward to witnessing its completion.
“I hope to receive an invitation to the commissioning of the expanded Ashaka Cement facility in the near future,” he added.
Dr Kwairanga congratulated HBM Nigeria Plc on its rebranding and wished the company success as it begins a new chapter under its new identity. (NAN).
