Lafarge Africa Plc has announced plans to change its corporate name to HBM Nigeria Plc following the acquisition of a controlling stake by China’s Huaxin Cement Co., in a move that signals a strategic shift in ownership and long-term industrial positioning.
The proposed rebranding, disclosed in a filing on the Nigerian Exchange, will be presented for shareholder approval at the company’s 67th Annual General Meeting scheduled for April 30, 2026, in Lagos.
According to the company, the name change will involve an amendment to its Memorandum of Association, formally redefining its legal identity to reflect the new ownership structure.
The development follows Huaxin Cement’s acquisition of an 83.81 per cent controlling stake in Lafarge Africa from Holcim Group in a deal valued at about $1 billion, marking the latter’s exit from Nigeria after more than two decades of operations.
Industry analysts say the transition represents a broader shift in Nigeria’s cement sector, with implications for sustainable industrial development, particularly as new ownership may influence investment in low-carbon cement production, energy efficiency and circular economy practices.
Huaxin Cement has indicated its intention to strengthen its footprint in Nigeria’s construction materials market while expanding operations across Africa, amid growing demand driven by urbanisation and infrastructure development.
Lafarge Africa reported strong financial performance in 2025, with revenue rising to N1.1 trillion from N696.8 billion in 2024, while profit after tax increased to N273 billion from N100.1 billion. Operating profit also grew significantly, supported by improved cost management and operational efficiency.
The company said the financial gains provide a solid base for the transition and future investments, including potential upgrades in production processes that could support more resource-efficient and environmentally sustainable operations.
Chairman Gbenga Oyebode said Nigeria’s rapid urbanisation and infrastructure needs present long-term opportunities for value creation, adding that the company is positioned to contribute to sustainable industrial growth.
Lafarge Africa began operations in Nigeria in 2001 following the acquisition of Blue Circle, including a stake in West African Portland Cement Company, later rebranded as Lafarge Cement WAPCO Plc.
The proposed rebranding is expected to take effect upon shareholder approval and completion of regulatory processes.
