Speaking on the expansion, Lolu Alade-Akinyemi, Group Managing Director and Chief Executive Officer of Lafarge Africa Plc, explained that the projects extend beyond capacity growth to deliver operational and sustainability benefits, while also supporting value creation for customers and shareholders, and contributing to economic activity.
Adekunle Ojora, in the wake of the Nigerian Enterprise Promotion Act, acquired equity stakes in numerous foreign companies operating in Nigeria, including Bowring Group, Inchcape, Schlumberger, Phoenix Assurance, UTC Nigeria, Evans Brothers, and Seven-Up.
Abdul Salam Rabiu, founder and Chief Executive of BUA Group, said: “This investment comes at a transformative time for Nigeria, bolstered by the bold reforms introduced by President Bola Tinubu administration which have made it easier to establish and operate factories while stimulating demand for infrastructure and construction projects.”
The Plant Director, Azad, said that the company had implemented several social projects, some of which include Farmers Assistance Grants to Oyo and Iwaa’s Vocational Skill Training, Market Women Assistance Grant to Oyo and Iwaa, funding support to cooperatives in all four communities and provision of security houses to promote and support community policing.
The beneficiary companies include Nigeria Machine Tools Limited, Nigerian Foundries Limited, Momas-Epail MIC (MEMCOL) Limited and the National Agency for Science and Engineering Infrastructure (NASENI).
Under the vision, the group is targeting a cement production capacity of approximately 90 million tonnes by 2030; expand its petroleum refinery from 650,000 barrels per day to 1.4 million barrels per day , and expanding its fertiliser plant from three million to 12 million metric tonnes per annum, while the polypropylene plant is being scaled up from 900,000 tonnes to 2.4 million tonnes per annum.
Stocks analyst said that the sharp upturn in PZ Cusson Nigeria’s growth trajectory came on the back of the company’s recent suspension to exit the African market, citing renewed prospects in the continent, specifically, its Nigerian subsidiaries.
The Chief Executive Officer of SpringRock Group and founder of bitMART, Dr. Eke Eke, gave the assurance during the official launch of the operations in Lagos at the Civic Centre, Victoria Island.
Under the new framework, the Tax ID will unify all previously issued Tax Identification Numbers by the FIRS and state internal revenue services into a single, harmonised identifier.
The Executive Director, Sales, Elizade JAC Autoland Limited, Mr. Biola Odukomaiya, disclosed that the company’s 2026 strategy was to make newly made in Nigeria vehicles more accessible through lower-priced products, bundled with maintenance and service packages.
