Lafarge Africa rebrands to HBM Nigeria Plc after record 2025 profits and board overhaul

At its 67th AGM held on April 30, 2026, in Lagos, Lafarge Africa confirmed five new director appointments, including Wang Xuanqian as Executive Director, and re-elected board chairman Gbenga Oyebode alongside two Independent Non-Executive Directors.

Shareholders approved a final dividend of N6 per ordinary share for the 2025 financial year, totalling approximately N96.6 billion in payouts, backed by revenue of N1.1 trillion (up 53% from 2024) and profit after tax of N273 billion (up 173%).

The company approved a corporate identity change from Lafarge Africa Plc to HBM Nigeria Plc, and is advancing capacity expansion at its Ashaka and Sagamu plants, targeting total installed production capacity of 14 million metric tonnes per annum.

The rebrand to HBM Nigeria Plc signals a deeper shift in ownership identity. The board composition now includes multiple Chinese-named executives, suggesting the parent group is consolidating strategic control under a new brand architecture.

For Nigerian institutional investors and pension funds holding Lafarge Africa shares, the name change and governance restructuring are worth monitoring closely over the next 6–12 months, as they may affect how the stock is perceived, traded, and rated on the Nigerian Exchange.

The planned capacity expansions at Ashaka and Sagamu, if completed on schedule, would position HBM Nigeria as an even larger force in Nigeria's cement market with implications for pricing competition against Dangote Cement and BUA Cement.