Infrastructure: Firm optimistic of Nigeria’s cement market

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By Chinyere Joel-Nwokeoma

Lagos, Sept. 17, 2020 Lafarge Africa Plc on Thursday expressed optimism of the country’s cement market in spite of the COVID-19 pandemic.

Mr Khaled El Dokani, the company’s Chief Executive Officer, said this at Lafarge Africa virtual ‘Facts behind the figures’, at the Nigerian Stock Exchange (NSE).

He said that Nigeria’s cement market was promising considering its teeming population of 200 million people.

El Dokani added that the country’s enhanced emphasis on infrastructure development would increase activities in the industry.

He said that the company would remain committed to the attainment of the Sustainability Development Goals (SDGs).

El Dokani noted that Lafarge Africa’s initiatives were designed to contribute to the attainment of the SDGs.

According to him, majority of its plants were Environmental Management System (EMS) and certified to ISO 14001:2015.

“The company is committed to best practices such as minimising the use of water and replacing sources of water in communities, adopting non-polluting forms of renewable energy and recycling materials,” he said.

He, however, assured all stakeholders of enhanced value creation in the years ahead.

Earlier, Mr Oscar Onyema, NSE Chief Executive Officer, commended the company’s efforts in curbing the spread of COVID-19.

Onyema also appreciated the company for its recent interventions and donations to support national efforts toward cushioning the effect of the pandemic on the Nigerian populace.

He said that NSE would continue to provide a platform to support listed companies in meeting their strategic business objectives.

“We will continue to position ourselves as the African Exchange of choice for issuers and investors by implementing policies aimed at strengthening the corporate governance of our listed companies,” he said.

He noted that NSE in the wake of the COVID-19 pandemic transitioned to complete digital trading through its electronic platforms.

“We also launched a revamped version of our X-Issuer platform to enhance the continuous flow of relevant and
reliable market information, and to enable stakeholders make informed investment decisions.

“To cushion the impact of the pandemic and restrictions on business activities, we made provisions for palliatives to market stakeholders.

“This includes granting a sixty-day extension to listed companies on the filing of audited and quarterly financial statements,” Onyema said.

He said that NSE collaborated with the Securities and Exchange Commission (SEC) to also extend the submission of audited financial statements for all dealing member firms.

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