HBM Nigeria Plc has said its new identity will strengthen its commitment to Nigeria’s industrial growth, infrastructure development and long-term economic value after a $1 billion Chinese takeover.
The company, formerly known as Lafarge Africa Plc, officially unveiled its new corporate name in Lagos following its acquisition by Chinese cement manufacturer Huaxin Building Materials.
The rebrand was approved by shareholders at the company’s 67th Annual General Meeting. It marks a major change in the ownership and strategic direction of one of Nigeria’s leading cement and building solutions companies.
Chairman of the Board of Directors, Gbenga Oyebode, had led the vote at the AGM to rename the company HBM Nigeria Plc after the acquisition deal.
The company said the name change would not disrupt its operations, workforce, customers, investors, host communities or shareholders. It added that the transition would be carried out in phases across its operations in the country.
Group Managing Director and Chief Executive Officer, Lolu Alade-Akinyemi, said the new identity showed the company was entering a fresh phase focused on operational excellence, innovation, sustainability and long-term value creation.
He said stakeholders should expect business continuity, continued investment and stronger commitment to creating economic and social value in Nigeria.
The company said the move to HBM Nigeria Plc was not just a name change, but part of a wider transformation linked to its new shareholder structure.
According to the management, the transition will help the business combine its local experience with wider industrial expertise from its new Chinese ownership.
HBM Nigeria said employees, customers, suppliers, investors and host communities would continue to be supported during the process. The company also said it would maintain its focus on Nigeria’s building and infrastructure market.
The development comes at a time when Nigeria’s construction sector continues to need strong private investment. Cement remains central to housing, roads, bridges, factories and other infrastructure projects. Any major change involving one of the country’s key cement producers is therefore important to the wider economy.
The takeover also reflects the growing role of Chinese investment in African industry. China has become a major player in infrastructure, manufacturing, mining and construction across the continent. In Nigeria, Chinese firms have been involved in rail, roads, power, manufacturing and industrial projects.
For HBM Nigeria, the new ownership may provide access to wider technical knowledge, production systems and capital support. However, the company will also face expectations from Nigerian stakeholders, especially around jobs, pricing, local content, environmental responsibility and community relations.
Before the rebrand, Lafarge Africa had been one of Nigeria’s most recognised cement producers, with strong roots in the country’s construction industry.
The company produced and sold cement and other building materials used across the country. Its brands and operations were tied to housing, commercial construction and large infrastructure projects.
The $1 billion acquisition by Huaxin Building Materials was part of a wider global business move by Holcim, the former controlling shareholder. Holcim had agreed to sell its majority stake in Lafarge Africa to Huaxin as part of its plan to reshape its global portfolio.
Huaxin has also expanded in other African markets, including cement businesses linked to Zambia, Malawi and South Africa. Its move into Nigeria gives it access to one of Africa’s largest cement and construction markets.
Nigeria’s cement industry is highly competitive and dominated by large producers. Demand is driven by population growth, urbanisation, housing shortages and government infrastructure spending.
But the sector also faces challenges, including high energy costs, logistics problems, foreign exchange pressure, inflation and weak consumer purchasing power. These factors affect production costs and the final price of cement for builders and households.
HBM Nigeria will now have to show that the new ownership structure can improve efficiency while supporting Nigeria’s development needs.
The company’s message after the rebrand was clear: the takeover should not be seen as a withdrawal from Nigeria, but as a new phase of investment and industrial partnership.
For workers and customers, the key question will be whether the change leads to stable operations, better supply, improved product quality and stronger long-term confidence.
For the Nigerian economy, the takeover is another sign that foreign investors still see opportunity in the country’s industrial and infrastructure sectors, despite tough operating conditions.
HBM Nigeria said it remains committed to the country and will continue to play a role in supporting construction, job creation and industrial development.