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Lafarge Africa MD Reveals 16.19% Nigerian Ownership

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Lafarge Africa MD Reveals 16.19% Nigerian Ownership

…as Senate pledges support for genuine foreign investors

Lafarge Africa PLC has restated to Nigerians that the offshore transfer of shareholding from Swiss multinational, Holcim, to China’s Huaxin Cement will bring substantial benefits to the Nigerian economy.

This statement was made during a Senate hearing last week where the company addressed concerns over transparency, national sovereignty, and job losses in light of the transaction.

The Senate had summoned Lafarge Africa following the announcement of Holcim’s plan to divest its 83.81% indirect stake in Lafarge Africa PLC.

Lolu Alade-Akinyemi, Lafarge Africa’s CEO, at the hearing, emphasised that the transaction was an entirely offshore realignment, where Holcim would be transferring its 83.81% ownership in Lafarge Africa via an indirect transfer of foreign holding companies to Huaxin Cement.

He explained, “Crucially, Holcim will retain a significant 41.81% interest in Huaxin, positioning it as the largest shareholder with ongoing governance rights and collaborative efforts.

“Our valued Nigerian public investors continue to hold 16.19% shareholding in Lafarge Africa during this transaction. This realignment is a part of Holcim’s global portfolio strategy, and Holcim will continue to hold a significant beneficial interest in Lafarge Africa via its stake in Huaxin.”

The company emphasised that the transition does not signify a fundamental shift in Lafarge Africa’s character, which has been foreign-owned for over two decades, underscoring Nigeria’s attractiveness to foreign investment.

The narrative of “new foreign control” was clarified as inaccurate, given Holcim’s continued beneficial interest.

“As an organisation, we will continue to respect the mandates of the Nigerian regulators and ensure full cooperation,” he added.

The proposed investment by Huaxin in Lafarge Africa is poised to positively contribute to Nigeria-China economic ties, aligning with the current administration’s initiatives for deeper economic cooperation and strategic investments.

Huaxin has expressed clear plans for capacity expansion and its decision to make such a substantial investment signals strong confidence in Nigeria’s economic potential and its strategic importance as a key market in Africa.

Osita Izunaso, the Chairman of the Committee, said, “While we are still understanding the broader implications of the deal, we are not opposed to foreign investments that follow due process and contribute meaningfully to national development.

“We are not against foreign investors, our priority is to ensure that Nigeria’s strategic interests, workers’ rights, and local investors are protected.”

The Senate’s final report on the matter is expected in the coming weeks as it continues consultations with regulatory agencies and stakeholders.

Businessday.ng

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Business

Nigeria Strengthens Maritime Leadership as Fadahunsi Emerges Vice Chairman of Eastern Atlantic Hydrographic Commission

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The Hydrographer of the Federation and Chief Executive Officer of the National Hydrographic Agency (NHA), Rear Admiral OO Fadahunsi, has been elected Vice Chairman of the Eastern Atlantic Hydrographic Commission (EAtHC) for the 2026–2028 term, further reinforcing Nigeria’s growing influence in regional and global maritime governance.

Rear Admiral Fadahunsi’s election was confirmed on Friday, 3 July 2026, during the ongoing EAtHC Conference in Abidjan, Côte d’Ivoire, where member states endorsed his emergence to one of the commission’s most strategic leadership positions.

Established on 26 November 1984 under the auspices of the International Hydrographic Organization (IHO), the Eastern Atlantic Hydrographic Commission was founded by France, Nigeria, Portugal and Spain. Over the past four decades, the commission has expanded significantly, comprising 11 member states, 10 associate members and six observers committed to promoting hydrographic excellence across the Eastern Atlantic region.

The commission plays a pivotal role in advancing hydrography, nautical cartography and maritime safety through capacity-building initiatives, the development and implementation of International (INT) Charts and Electronic Navigational Chart (ENC) schemes, improved hydrographic surveys, enhanced charting standards, effective dissemination of nautical information and sustained advocacy on the importance of hydrography to regional maritime development.

Since its inaugural conference in Paris, France, in April 1986, the EAtHC has convened biennially to strengthen collaboration among member states and chart the future of hydrographic development.

In another significant endorsement of Nigeria’s expanding maritime profile, the country has been selected to host the next EAtHC Conference in June 2028. Nigeria will also host the 25th Meeting of the Capacity Building Sub-Committee (CBSC25) and the 19th Meeting of the Inter-Regional Coordination Committee (IRCC19) in June 2027, positioning the country at the centre of major international hydrographic engagements.

Rear Admiral Fadahunsi’s election is widely regarded as a testament to Nigeria’s sustained investment in hydrographic development, maritime safety and regional cooperation. It also reflects growing international confidence in the National Hydrographic Agency’s contributions to safer navigation, marine resource management and the blue economy.

As Nigeria prepares to welcome leading hydrographers, maritime regulators and technical experts from across the world over the next two years, the country is poised to consolidate its reputation as a key driver of hydrographic innovation and maritime security in the Eastern Atlantic region.

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Canada Publishes 2 Official Websites to Find Jobs, Says Over 2,000 Vacancies Are Posted Daily 

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Canada has made it easier for unemployed individuals and foreigners who wish to live and work in the country to find jobs that can help them live comfortably and meet their basic responsibilities.

On the official Canadian government website, two links are provided to websites where job seekers can find available jobs in Canada

According to the Canadian government website, applicants who apply for jobs through these platforms can get hired by different companies, as more than 2,000 jobs are posted every day.

Aside from these two websites, the Canadian government explains that individuals can also use employment agencies to help them find jobs that match their skills.

A job seeker can also ask friends or family members if there are job openings or vacancies, as not all positions are advertised on these websites.

1. Job Bank

The Canadian government explains that thousands of jobs are advertised on this platform every day by organisations and companies. The link to access the website can be found in the detailed post published on the Canadian government website.

2. Jobs GC

Another website where foreigners who wish to work in Canada or Canadian citizens can find government jobs is the Jobs GC website. Federal public service jobs are advertised on the website, alongside several other opportunities that may match an applicant’s skills.

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BREAKING: Marketers Increase Fuel Prices Nationwide, as US-Iran War Escalates,  New Rates Emerge 

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Fresh petrol prices have emerged across major depots in Nigeria as marketers adjusted rates upward in response to growing uncertainty in the global oil market following renewed hostilities in the Middle East.

The latest pricing released shows that several depot operators have increased the ex-depot cost of Premium Motor Spirit (PMS), popularly known as petrol, amid concerns that escalating tensions between the United States and Iran could disrupt global crude oil supplies.

Industry observers say the adjustments are largely precautionary, with marketers seeking to cushion the impact of any sharp rise in international crude prices should the crisis worsen.

The fresh increase comes after tensions flared in the Gulf region, with Iran announcing the closure of the strategic Strait of Hormuz following the expiration of its ceasefire arrangement with the United States.

According to reports, Tehran accused a commercial vessel of violating its maritime regulations and carrying out hostile activities, prompting the Islamic Revolutionary Guard Corps (IRGC) to intercept and strike the ship.

The IRGC said the vessel had travelled through an “unapproved route” and had switched off its tracking systems, adding that the Strait of Hormuz would remain closed “until further notice” and until what it described as the end of US interference in the region.

In response, the United States Central Command (CENTCOM) confirmed carrying out military strikes on more than 140 Iranian military targets, including missile launch sites, drone facilities, naval assets, ammunition depots and surveillance infrastructure. Washington said the operation was aimed at protecting civilian and commercial shipping through the strategic waterway.

The latest developments have heightened fears of disruptions to global oil exports, with the Strait of Hormuz serving as one of the world’s busiest energy transit routes.

Data from PetroleumPriceNG indicates that depot petrol prices increased by an average of 0.46 per cent compared to previous rates.

The fresh adjustments signal a departure from the previous benchmark of around N1,075 per litre at several depots.

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