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Tag: Lafarge

  • First Bank, Union Bank, Lafarge record N120b profit in 9 months

    First Bank, Union Bank, Lafarge record N120b profit in 9 months

    CBN Holdings Plc, the holding company for First Bank of Nigeria (FBN) Limited and its former subsidiaries, has announced a pre-tax profit of about N74 billion for the third quarter, showing its first strong growth momentum in recent period.

    Also, Union Bank of Nigeria (UBN) Plc grew its pre-tax profit by 22 per cent to N8.3 billion.

    Lafarge Africa Plc recorded pre-tax profit of N38.09 billion during the nine-month period.

    Key extracts of the nine-month report of FBN Holdings for the period ended September 30, 2014 showed improvements in the bank’s top-line and pre-tax profit, although net profit remained suppressed by higher tax provisions.

    Group profit before tax rose to N73.75 billion in third quarter 2014 as against N70.07 billion recorded in comparable period of 2013. The bottom-line performance was driven by appreciable improvement in the top-line. The group’s core commercial banking activities picked up considerably during the period with interest income rising from N239.16 billion in September 2013 to N255.72 billion by September 2014. Net interest income rose to N176.49 billion in 2014 as against N172.43 billion in 2013.

    Further analysis of the top-line showed growths across the segments. Fees and commissions incomes rose from N44.05 billion to N51.22 billion while foreign exchange income increased from N5.05 billion to N17.16 billion.

    With 65 per cent increase in income tax expenses from N10.99 billion to N18.12 billion, net profit after tax was slightly depressed at N55.63 billion in September 2014 compared with N59.09 billion recorded in corresponding period of 2013.

    The group’s balance sheet size built up to N4.19 trillion in September 2014 compared with N3.87 trillion recorded as total assets in December 2013. Shareholders’ funds also rose from its 2013 year-end position of N471.78 billion to close September 2014 at N493.67 billion.

    In the same vein, Union Bank of Nigeria recorded gross earnings of N74.8 billion in third quarter 2014 as against N79.9 billion in comparable period of 2013. Profit before tax rose from N6.8 billion to N8.3 billion while profit after tax increased from N7.6 billion to N8.1 billion.

    Group managing director, Union Bank of Nigeria, Mr. Emeka Emuwa said the third quarter activities were focused on continuing and consolidating the bank’s transformation efforts to ensure it maintains strategic focus in key areas and deliver operating results according to plan.

  • If the situation is as painted above…nobody will be left in the factory as employees, says LafargeWAPCO

    If the situation is as painted above…nobody will be left in the factory as employees, says LafargeWAPCO

    REACTING to claims by residents of his company’s host communities that most of them have developed health problems, including asthma, due to the inhalation of cement dust discharged by LafargeWAPCO into their community, Ade Ojolowo, Corporate Communications Manager (CCM) of the company, states: “We have employees in hundreds working in the factory, and many are still applying. Many of our staff have been living within our operations for ages. If the situation is as painted above, you will agree with me that nobody will be left in the factory as employees. Such complaints never came up in our monthly meetings with the community leaders who always look forward to the meetings.”

    In order to mitigate the effects of its business activities on its host communities, Ojolowo says: “We are not only doing certain things, but also doing those things which are of utmost priority to our host communities.  Whenever there is a challenge, we solve it together.”

    The cement company’s image maker reiterates his company’s commitment to good corporate governance claiming that LafargeWAPCO’s Corporate Social Responsibility (CSR) programme for its host communities is “hinged on five cardinal points, including physical infrastructure, youth empowerment, education, health, and poverty alleviation.”

    “It is widely believed that CSR programmes anchored on the afore-mentioned points are capable of engendering lasting social responsibility. Lafarge has made huge investments woven around these activities in its behaviour as a good corporate citizen to its host communities.  Our track records speak volume, and viewing it from that perspective, Lafarge’s CSR can be rated very high,” he argues.

    In its recent annual CSR report, the company makes a series of declarations in order to substantiate its claims to sterling a CSR culture. “In order to help combat local youth unemployment, Lafarge Nigeria has launched a number of educational and vocational training initiatives within the communities around its sites.”

    The first of these is an 18-month training course at its Ewekoro plant to train local youths in automation, electrical and mechanical jobs. Classes are given by lecturers from higher education institutions and a pool of ex-LafargeWAPCO staff. Apprentices receive monthly stipends and graduates obtain a diploma attesting to their successful completion of the course, the company claims.

    “Our teams in Nigeria are also working to promote basic education among children living in the communities surrounding our plants. In the last two years, we have renovated 40 classrooms, donated science laboratory equipment to 18 schools and provided 450,000 exercise books for local children. Employees across the country contributed around 2,000 volunteering hours in 2013, in projects related to skills training, education, health and safety and local job creation. Our teams are also supporting the enhancement of literacy in students through a mobile reading workshop, the Books on Wheels programme,” Ojolowo said.

    And in recognition of these initiatives, LafargeWAPCO has received three awards at the Nigeria Social Enterprise Reporting Awards in 2013, including the 2013 Most Socially Responsible Company in Nigeria award.

  • Our story, by LafargeWAPCO’s image maker

    Our story, by LafargeWAPCO’s image maker

    In an exclusive interview with The Nation, Ade Ojolowo, Corporate Communications Manager (CCM) of LafargeWAPCO, dismisses the natives’ claims, stressing “Lafarge’s Corporate Social Responsibility for its host communities is need-based, strategic, and highly sustainable.” Excerpts:

    HOW would you rate Lafarge’s Corporate Social Responsibility (CSR) programme for its host communities?

    Lafarge’s Corporate Social Responsibility for its host communities is need-based, strategic, and highly sustainable.  Lafarge in its CSR approach recognises its host communities as strategic partners to whom it owes and accords sense of mutual respect, believing that its footprints should, in its overall assessment, be a blessing to its host communities. Our CSR activities are hinged on five cardinal points, including physical infrastructure, youth empowerment, education, health, and poverty alleviation.  It is widely believed that CSR programmes anchored on the afore-mentioned points are capable of engendering lasting social responsibility.  Lafarge has made huge investments woven around these activities in its behaviour as a good corporate citizen to its host communities. Our track records speak volume, and viewing it from that perspective, Lafarge’s CSR can be rated very high.

    Recent press reports seek to establish your company as a good corporate citizen but several residents of your host communities allege that the reality is actually very different from what the media reports. How would you react to this?

    The likelihood of a few people who may not share the belief in a structured and sustainable approach to a programme as crucial as corporate social responsibility cannot be ruled out. However, we are convinced that we have the majority on our side in the corporate belief in landmarks that will benefit all, propel the growth and development of the communities and touch the lives of the children of the peasant farmers.

    In Ewekoro Local Government alone, for the purposes of touching lives, we structured the host settlements into 12 development communities. We have a monthly community meeting where all the communities are represented by the leaders they appointed and presented to us, and their youth leaders.  At the beginning of the year, each community makes a proposal of the project of its choice, and even suggests the contractors to handle them to Lafarge.  It is a grand rule that community projects are assigned to community contractors most of whom are the community leaders and indigenes. Each community has a budget in millions of Naira annually for their priority projects.

    It may interest you to note that through this approach, several roads are being built, physical building projects like schools, town halls, rural electrification projects, to mention a few, are executed. Lafarge will not get involved in enriching a handful in a community, however they may wish, but will rather take bold steps visible to all, including government, to see.

    The residents of Lapeleke, for instance, allege that due to limestone blasting activities of your company in their vicinity, their village has been rendered desolate; their once viable and thriving agricultural economy has been devastated along with their homes. How would you react to the allegation?

    Lapeleke is one of the 12 communities that we relate with on a regular basis.  The community has a functional Baale that is recognised by the Ogun State Government. How come it has become so desolate? You may wish to know how much a piece of land for residential purposes go for at Lapeleke.   One really wonders where all these are coming from? For the avoidance of doubt, Lafarge is known for priority focus on health and safety. We have zero tolerance for any unsafe behaviour or lifestyle not only among our staff and this is extended to all stakeholders, including our host communities.

    In a recent interview with The Nation, you stated that Lafarge is committed to relocating communities located close to the company’s quarries, why haven’t the company instituted a similar measure to assist the inhabitants of Olapeleke village?

    Obviously, it is not only the communities marked for relocation that now appreciate Lafarge’s gesture. It may interest you to know that it was Lafarge’s initiative to relocate communities that are very close to our operations, and it will soon fully be achieved.  Of course, if Lapeleke is discovered to be characterised by the same factors as those of the communities to be relocated, it would also be considered at some point in time. It is one step at a time.

  • Building collapse: Bricklayers, block makers trained

    Building collapse: Bricklayers, block makers trained

    Worried by incessant cases of building collapse in the country, LAFARGE Cement Nigeria plc has organised a training on block making and concrete mixing for bricklayers, block makers in the building industry to curb the ugly trends.

    The training, which was held at Olugbon Hall, Oyo yesterday, laid much emphasis on “the requirement of quality blocks in building construction”.

    The regional Manager of the company, Mr Soji Odus, said the major objective of the company is to ensure that the buyers and users of cement get value for their money.

    “We are not here to teach you how to mould blocks but to give you training on how to mould quality blocks for building houses. The workshop will change the way and method adoptable in concrete mixing and block moulding by players in the building industry.” Odus stated

    Delivering his lecture, the relationship manager, precast and block making segment of the company, Mr Adesoji Okesina attributed incidence of building collapse in Nigeria to the use of low-quality building materials and unprofessional mixing of cement with sand, gravel, granite and other building materials.

    Also, the National President of Nigeria Block Makers Association, Alhaji Raji Adebowale commended the recent step taken by the Standard Organisation of Nigeria (SON) to ensure quality block making in the country.

  • The rising profile of Lafarge Wapco

    The rising profile of Lafarge Wapco

    This is a momentous period for Lafarge Cement Wapco Nigeria Plc, both in Nigeria and globally. From the landmark global merger that would consolidate Lafarge’s global leadership in cement and building materials to the consolidation of Lafarge’s operations in Nigeria and South Africa to create Lafarge Africa Plc as a continental leader, Lafarge Cement Wapco’s fundamentals and operations appeared on a formidable structure. As shareholders of Lafarge Cement Wapco Nigeria meet today at the Annual General Meeting (AGM), Capital Market Editor Taofik Salako reports on the key considerations that will dominate the meeting

    Today’s annual general meeting is important to Lafarge Cement Wapco Nigeria Plc and also its shareholders. With 175 per cent increase in dividend payout and sustained growths in key fundamentals over the periods, the mood for the meeting, for speculative and short-term investors, could be dictated by the growing earnings and returns of the cement company. But for most of the shareholders, the long-term investors that have traversed the decades with Nigeria’s oldest cement company, the main considerations would be the emerging opportunities in the continental and global consolidations being spearheaded by Lafarge.

    Lafarge Wapco had grown net earnings by 92 per cent in 2013, prompting the board of directors of the cement company to increase dividend payout by 175 per cent. The board of directors had recommended increase in dividend per share to N3.30 for the 2013 business year as against N1.20 paid for the previous year. This underlined continuous growth for investors who had received dividend per share of 75 kobo for the 2011 business year.

     

    Fundamentals of the business

    Key extracts of the audited report and accounts of Lafarge Wapco for the year ended December 31, 2013 showed that profit after tax grew by 92 per cent to N28.2 billion in 2013 as against N14.7 billion recorded in 2012. Profit before tax grew by 30 per cent from N21.3 billion to N27.7 billion. Turnover increased by 12 per cent to N98.8 billion as against N87.9 billion in 2012. The company witnessed significant reduction in interest expenses N5.5 billion to N3.8 billion as a result of the reduction in interest charges due to the full repayment of the Naira syndicated bank loans. Consequently, basic earnings per share grew from N4.90 to N9.42; an increase of 92 per cent.

    Lafarge Wapco’s new ready-mix concrete business contributed N1.6 billion to the total turnover of N98.8 billion. The company not only focused on increasing its turnover but has ensured that its operational costs are curtailed without compromising on service to its customers. The strong operational performance and efficient working capital management resulted in an increase in cash holdings of N11.5 billion. With the company being in a more cash positive position, it was able to reduce its debt by 42 per cent, paying off its variable rate medium term syndicated Naira and foreign currency loans ahead of tenor. Accordingly, Lafarge Wapco’s debt position closed 2013 at N21.5 billion comprising a fixed rate corporate bond and a power intervention fund loan. The debt-to-equity ratio halved to 23 per cent in 2013 as against 55 per cent in 2012.

    Already, emerging results showed positive outlook for the current business year. Lafarge Wapco recorded significant growths in sales and profit in the first quarter of this year as pre-tax profit totaled N8.62 billion in three months.

    Interim report and accounts of Lafarge Wapco for the three-month ended March 31, 2014 showed that sales rose by 16 per cent while pre and post tax profits grew by 20 per cent and 34 per cent respectively. The report showed that turnover rose to N27.03 billion in first quarter of 2014 as against N23.24 billion recorded in comparable period of 2013. Profit before tax increased from N7.20 billion to N8.62 billion. Profit after tax also rose from N6.07 billion to N8.15 billion. Earnings per share grew by 34 per cent from N2.02 to N2.71.

    The company indicated that net finance cost reduced from N980 million to N760 million due to lower interest charges following the full repayment of the Naira syndicated bank loans. Investment income simultaneously grew by N160 million to N260 million.

    Managing director, Lafarge Cement Wapco Nigeria Plc, Joe Hudson, said the good performance in the first quarter was a reflection of the increasing demand for the company’s quality products and an outcome of the implementation of various volume and cost improvement strategies.

    “We are especially pleased that the new line in Ewekoro continues to gain momentum and remain very optimistic about the rest of the year despite the challenging operating environment,” Hudson said.

    Chief financial officer, Anders Kristiansson, noted that the company further strengthened its financial position during the quarter as it remains committed to delivering value to shareholders and other stakeholders in 2014.

    Chairman, board of directors, Lafarge Cement Wapco Nigeria Plc, Chief Olusegun Osunkeye said the latest earnings reports showed steady growth and demonstrated the strength of the company in delivering value to shareholders and to other stakeholders.

     

    Consolidating the leadership

    Besides the earnings and returns, shareholders would focus on emerging opportunities from the new Lafarge as they vote on a proposal to merge Lafarge Wapco with other Lafarge’s business in South Africa. Already, Lafarge Wapco has been the toast of investors since its parent company, Lafarge Group, announced plan to merge its businesses in Nigeria and South Africa to create a new company to be known as Lafarge Africa Plc.

    The consolidation of the South Africa and Nigeria’s businesses will be done through Lafarge Wapco, which will subsequently be renamed Lafarge Africa while sustaining its listing on the NSE. Under the proposed terms, Lafarge Group will transfer its direct and indirect shareholdings in Lafarge South Africa Holding Limited of 72.4 per cent and its equity stakes in three other cement companies in Nigeria-United Cement Company of Nigeria Limited, 35 per cent; Ashaka Cement Plc, 58.61 per cent and Atlas Cement Company Limited, 100 per cent; to Lafarge Wapco. The transaction is valued at $1.35 billion while the market value is over $3 billion.

    The transaction will be concluded through a cash consideration of $200 million and the issuance of about 1.40 billion ordinary shares of Lafarge Africa to Lafarge Group. The transaction is expected to be concluded before the end of this year, subject shareholders’ approvals and regulatory and other customary authorizations. Also, Lafarge Wapco plans to raise some N100 billion in new capital, through debt or equity through the Nigerian and global capital markets.

    There are indications that shareholders would approve all the resolutions on the agenda including the consolidation and new capital issue. Ahead of the meeting, most shareholders’ groups have voiced supports for the consolidation and new capital issue as they commended the performance of the company.

    Lafarge has outlined the key benefits of the consolidation. Osunkeye said that the new company will create the platform for strong growth as the transaction allows the company to consolidate its Nigerian operation with that of South Africa.

    “I am proud to be part of the creation of this leading African building materials platform. It will provide access to growth in two of the largest economies on the continent. It will mean that our shareholders are invested in a larger and more geographically diverse business; and it will contribute significantly to the economic growth of both our nations,” Osunkeye said.

    Lafarge executive Vice President and country chief executive officer, Nigeria and Benin Republic, Guillaume Roux said the new platform would strongly position to benefit the two countries and Africa as the company cement capacity currently at 5.5 million metric tonnes will increase to 12 million tones.

    He said the strong operational track record and management skills within the combined businesses as well as continued support and expertise from Lafarge group would position Lafarge Africa to offer a full range of value added solutions to meet customers’ needs.

    “Today’s announcement marks a key milestone. It adds momentum to our push for differentiation in order to deliver innovation that increases and improves our product portfolio. Our objective is to bring more housing and even better solution to contribute to building better cities that are more beautiful, more compact, more connected and more durable,” Roux said.

    Roux had earlier outlined plan double Lafarge’s production capacity in Nigeria as part of a new expansion programme that would see additional investments by the foreign majority shareholders in its Nigerian subsidiaries.

    Roux, who noted that Lafarge had recently increased its capacity from 3.0 million metric tonnes to 8.0 million metric tonnes, said the group would be making new investments in the next few years to double its capacity and strengthen its position as a leader in the Nigerian cement industry.

    He pointed out the historic importance of Lafarge Wapco as the oldest cement company in Nigeria and the operational spread of the group’s business from the south to the north adding that the expansions will also be across the regions.

    He underscored the importance of Nigerian market to the Lafarge global operations noting that the group has continuously demonstrated its commitments to the long-term development of its business and the Nigerian economy by sustained investments, development of new innovative solutions and building of Nigeria’s indigenous know-how and capacity.

    “We will make a lot of new investments in the next few years,” Roux said.

    He said that contrary to recent speculations about presence of low-grade cement products in Nigeria, there could be no low-grade cement in the country as Nigeria has the most modern cement industry in Africa.

     

    Global leader

     Today’s meeting also comes as Lafarge and Holcim of Switzerland take further steps to create a company with more than $40 billion in sales in Europe’s largest deal this year. Both companies on Monday proposed a multi-billion euro series of asset sales as they seek regulatory approval for their merger to create the world’s biggest cement maker.

    Chief executive officer, Holcim, Bernard Fontana said the companies planned to officially apply for approval from EU competition regulators this summer. The tie-up is expected to be completed in the first half of 2015. Both Lafarge and Holcim have repeatedly said their merger, which would create a group with global headquarters in Zurich, would not entail any plant closures or industrial job cuts.

     

    Re-pricing the stock

     While the emergent Lafarge Africa would be the sixth largest company on the Nigerian Stock Exchange (NSE), the NSE  on April 22, 2014 admitted Lafarge Wapco to the special pricing model for the highly capitalised stocks. With this, investors with 10,000 shares of Lafarge Wapco can move the price of the stock as against the 50,000 shares generally required for other stocks. Lafarge Wapco has been trading above N100 in recent period. Lafarge Wapco’s share price closed on Monday at N111 per share.

    Justifying the inclusion of Lafarge Wapco, head, market surveillance, Nigerian Stock Exchange (NSE), Mr. Abimbola Babalola said a review of trading activities of the company in the last six months showed that the company met the criteria set by the Exchange.

    According to him, the Exchange commenced the pilot programme for the “Group B” stocks with nine stocks including Dangote Cement, Guinness Plc, Nestle Plc, Nigerian Breweries, SIM Capital Fund, Skye Shelter Fund, Nigerian Energy Sector Fund (NESF) and Total Plc.

    “The Programme became permanent in 2013 and the nine initial pilot stocks remained. Lafarge Cement WAPCO Nigeria Plc will become the 10th stock on the programme. We have observed that the prices of these high priced stocks have been rather stable with none falling below the N100 mark which is currently the benchmark,” Babalola said.

    Generally, the building and construction industry still holds immense potential. The largest country in Africa, with some 170 million population, Nigeria is in critical need of development of infrastructure and this has continued to grow year-on-year. With steady Gross Domestic Products (GDP) growth, the outlook for the construction industry remains bright as it is generally accepted that the level of GDP per capita positively correlates with the level of construction activity. Investors in Lafarge Wapco would particularly look out for the growth trend that suggests improved benefits from the recent strategic investments.

  • Community, Lafarge bicker over sale of AshakaCem

    The plan by AshakaCem Plc to expand its production capacity from one million to four million metric tons per annum has been described as a ruse and a deliberate plan to swindle the host communities.

    Accordingly, the host communities have threatened to make he environment uncomfortable for the company if Lafarge Group Plc fails to reverse the purported sale of the company’s shares to WAPCO Plc

  • Lafarge, Unicem sue SON over new standard order

    Lafarge, Unicem sue SON over new standard order

    Three cement manufacturing companies, Lafarge Cement WAPCO, Ashaka Cement and Unicem have instituted different suits against the Standards Organisation of Nigeria (SON) over its recent pronouncement and plan to implement a new Mandatory Industrial Standard Order for cement manufacturing, distribution and usage in the country.

    The SON published a public notice restricting the application of 50kg 32.5R grade of cement to plastering only in syndicated adverts in some national newspapers on Wednesday, 14th May 2014.

    Lafarge WAPCO, AshakaCem Plc and Unicem are challenging this order, which they believe is, to all intents and purposes, aimed at the gradual phasing out of 32.5 cement grade, which has been widely known and used as general purpose cement from the market.

    Through the suits, the cement manufacturers are seeking the court to establish whether or not the respondents (SON) have complied with the mandatory provisions of the law for establishing new industrial standard in the introduction of the Commodity Composition and Conformity Criteria for Common Cements and Specification of Mandatory Industrial Standard NIS 444-1 2014.

    Thus the complainants are seeking through the courts, a declaration that the introduction of the Commodity Composition and Conformity Criteria for Common Cements and Specification of Mandatory Industrial Standard NIS 444-1 2014 by the Respondents (SON) without complying with the clear and mandatory provisions of the SON Act 2004 and other existing laws for doing so is unlawful, null and void. They are also seeking an order of the court restraining SON, their agents, privies and whosoever purporting to act through the respondents from enforcing and implementing the Mandatory Industrial Standard NIS 444-1 2014.

  • We are not afraid of competition, says Lafarge

    We are not afraid of competition, says Lafarge

    Lafarge cement WAPCO Nigeria Plc has said it is not afraid of competition as it is the only way to bring the best out of the cement industry.

    Speaking at a customers’ forum in Eko Hotel, Lagos,its chairman, Mr Olusegun Osunkeye said what stakeholders and Nigerians are witnessing today in the cement industry is competition and an attempt to fight rough.

    He said regardless of what anybody might be saying, Lafarge’s products remain the best.

    He said: “I must be quick to add here that we do not abhor competition in Lafarge. In fact, we view competition as the only good thing for any industry and the society at large, as it brings out the best in the players, especially when it is healthy.

    “We pride ourselves as the cement manufacturers with the largest product range in Nigeria, thanks to the innovative, value adding and consumer-centric culture of our parent company which is rubbing off on us in WAPCO.”

  • Lafarge restates commitment to cement industry

    Lafarge Cement, WAPCO Nigeria Plc has said that it is not afraid of completion, as it is the only way to bring the best out of the cement industry.

    Speaking at the customers’ forum at Eko Hotel in Lagos, the chairman of the company, Chief Olusegun Osunkeye, said what stakeholders and Nigerians are witnessing today in the cement industry is a mere competition activity and an attempt to fight rough.

    He said that no matter anybody is saying, Lafarge product remains the best.

    He said: “I must be quick to add here that we do not abhor competition in Lafarge. In fact, we view competition as the only good thing for any industry and the society at large, as it brings out the best in the player, especially when it is healthy.

    “We pride ourselves as the cement manufacturers with the largest product range in Nigeria, thanks to the innovative, value adding and consumer-centric culture of our parent company which is rubbing off on us in WAPCO.

    “No matter how hard they try to cover the truth, it will always prevail. Cement consumers in Nigeria know what is good for them. The professionals in the industry know that which is suitable for the different applications,” Osunkeye stressed.

    He said there is sub-standard cement in Nigeria, adding that cement quality is not responsible for building collapse in the country.

    He said the Backward Integration Policy of the Federal Government has gone a long way to consolidate the growth and gains of the cement industry where production capacity has moved from over two million metric tonnes in the past decades to about 28 million metric tonnes installed capacity in 2013.

    Echoing similar sentiments, the managing director, Mr. Lafarge Cement Wapco, Mr. Joe Hudson, said the company will continue to maintain its leadership role in the market.

    He said the customers should not be discouraged by some negative campaigns going on in the country, as the company will continue to produce quality products and maintain its partnership with the customers.

  • Lafarge clinches three awards at 2013 SERAs

    Lafarge clinches three awards at 2013 SERAs

    Cement manufacturing company, Lafarge Cement WAPCO Nigeria Plc bagged three prestigious awards at the 7th Nigeria Social Enterprise Awards (SERAs) held recently at MUSON Centre, Onikan, Lagos for its consistent contributions to the development of the Nigerian society.

    The three awards, which span different areas of corporate social responsibility in which the company has made significant impact include the Best Company Design for Sustainability, the Best Company in Community Involvement and the Most Socially Responsible Company in Nigeria. They are in recognition of Lafarge WAPCO’s commitment to impacting positively on its host communities and the Nigeria community at large through continuous engagement of its key stakeholders in ways that meet the company’s best practices agenda.

    The Governor of Osun State, Ogbeni Rauf Aregbesola, while presenting the overall coveted award of the Most Socially Responsible Company in Nigeria, noted that Lafarge WAPCO deserved the awards in the light of its visible contributions to the development of Nigeria, and encouraged that the good works should continue to be improved upon.

    In his acceptance speech, Lafarge WAPCO’s Managing Director and Chief Executive Officer, Joe Hudson, said “Lafarge has been in Nigeria for over 50 years and in all this time, we have quantified success not just by how much market share we have but also by how much positive impact we have on our society.”

    He assured that “being recognised like this makes us feel that we are doing the right thing and we are motivated to do even more within our resources to contribute to Nigeria’s development.”