Larfarge PLC says Nigeria’s cement market is promising

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The Chief Executive Officer of Larfarge PLC, Mr Khaled El Dokani has declared that Nigeria’s cement market is promising with a huge population of 200 million people.

Mr Khaled El Dokani also expressed optimism of the country’s cement market in spite of the COVID-19 pandemic.

He said this at Lafarge Africa virtual ‘Facts behind the figures’, at the Nigerian Stock Exchange (NSE).

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

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

The Larfarge CEO averred 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.

His words; “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, therefore, assured all stakeholders of enhanced value creation in the years ahead.

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

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

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

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

His words: “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”.

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

About the author

Joseph Chukwuma Oputa

Joseph Chukwuma Oputa is the Managing Editor of Maslow Businessnews and Physicians News publications published by Maslow Business News Publications, Lagos, Nigeria.

Joseph Oputa is a proud Alumnus of the prestigious Nigerian Institute of Journalism, Lagos and Federal Polytechnic, Bida, Niger State.

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