Gov. Bassey Otu (left) in a handshake with the Vice President of Holcim Cement, Mr. Xu Gang (right) while the Group MD/CEO of Lafarge Africa PLC, Mr. Lolu Alade Akinyemi looks on.
By Anietie Akpan
The ownership of Lafarge Cement Company in Mfamosing, Akamkpa Local Government Atea ((LGA) of Cross River State has changed hands.
The new owners are Holcim Cement, which now has the majority share.
This was formally announced on Tuesday, September 23, when the high-powered delegation of the cement giants in Calabar paid a courtesy visit to the State Governor, Senator Bassey Otu.
In a press release from the Governor’s Office Press Unit made available to newsmen, Governor Otu assured Holcim Cement, which has taken over ownership of Lafarge Africa PLC, of his administration’s unwavering support in providing an enabling environment for investment growth in Cross River State.
He welcomed the company’s expanded global capacity and renewed commitment to the state and expressed delight over the visit, saying the long-standing relationship between Cross River and Lafarge had strengthened confidence and must be built upon.
The Governor commended the company for its corporate social responsibility interventions, noting that such efforts had benefitted host communities and improved livelihoods.
“We have come a long way together. What excites me most is that beyond cement, you are now bringing additional investments in areas such as waste management and infrastructure. This marriage will be a strong one, and I assure you that Cross River is safe, stable, and open for business,” Otu said.
Otu pledged government’s readiness to synergize with Holcim in infrastructure development, including jetties, terminals, and other projects. He emphasized that the state’s natural endowments and ongoing development plans made it a prime destination for global investors.
While commending the delegation, he expressed optimism that the partnership would open new frontiers of growth, job creation, and prosperity in line with his administration’s People First agenda.
On his part, the Vice President of Holcim Cement, Mr. Xu Gang, in his remarks, reaffirmed the company’s resolve to deepen its investments in Nigeria, particularly in Cross River and lauded the state government and host communities for their support, promising greater contributions to skills development, knowledge transfer, and corporate social responsibility initiatives.
“We did not come just to acquire Lafarge. Our vision is to expand, invest more in people, and grow capacity. We are committed to supporting local communities and making Cross River a model for sustainable investment,” Gang stated.
Also speaking, the Group Managing Director/CEO of Lafarge Africa PLC, Mr. Lolu Alade Akinyemi, highlighted the significance of the company’s Mfamosing plant, the largest cement plant in Nigeria, to the national economy. He described Governor Otu as a dependable ally of industry, praising his administration for prioritizing peace and investor confidence.
“Your Excellency, Lafarge Africa is part and parcel of Cross River. With Holcim as our new majority shareholder, we are confident that the future holds even greater opportunities in employment, training, and sustainable development for our host communities,” Akinyemi assured.
The visit, which follows Holcim’s recent acquisition of majority shares in Lafarge Africa, underscored the multinational’s plan to expand its footprint in Nigeria beyond cement to include aggregates, waste management, and infrastructure solutions.
