Nigeria News (Standard)
Lagos: Lafarge Transitions to HBM Nigeria Plc, Unveils New Corporate Identity
Group MD Lolu Alade-Akinyemi assures staff and customers of seamless operations as rebranding takes effect nationwide
Group MD Lolu Alade-Akinyemi assures staff and customers of seamless operations as rebranding takes effect nationwide
Lafarge Africa Plc on Tuesday officially changed its corporate name to HBM Nigeria Plc, unveiling a new identity at a ceremony in Lagos that signals the company’s continued evolution within Nigeria’s building solutions sector. The transition, led by Group Managing Director and Chief Executive Officer Lolu Alade-Akinyemi, follows changes in the company’s shareholding structure and is designed to reflect its growing integration with the global Huaxin Building Materials Group.
The event brought together key industry stakeholders, including Chairman Gbenga Oyebode and Minister of Works Dave Umahi, who praised the company—now HBM Nigeria Plc—for its longstanding contributions to infrastructure development across the country. Representatives of state governments from Cross River, Lagos, and Ogun joined traditional leaders and business executives at the official unveiling.
According to Alade-Akinyemi, the transition marks a significant milestone for one of Nigeria’s largest cement producers. “HBM Nigeria Plc represents an exciting new chapter in our journey as a leading building solutions company. While our corporate identity is evolving, our commitment to Nigeria remains unwavering. We remain focused on delivering quality cement, concrete, aggregates, and innovative building solutions that support infrastructure development, housing growth, and industrialisation,” he said at the event.
Chairman Oyebode expressed confidence in the rebranding process, thanking shareholders and staff for their ongoing support. He stated that HBM Nigeria Plc would continue to create sustainable value for shareholders while upholding its legacy of excellence and responsible business practices. Minister Umahi commended the company’s role in supporting federal infrastructure initiatives, noting its “impeccable” product standards and integrity.
The rollout of the new corporate identity will be implemented in phases across all HBM Nigeria Plc locations—including Ewekoro and Sagamu in Ogun State; Ashaka in Gombe State; Mfamosing in Cross River State; as well as ready-mix operations in Lagos, Abuja, and Port Harcourt. The company confirmed that no disruptions are expected for employees or customers during this period. With an installed cement production capacity of 10.5 million tonnes per annum and extensive operations nationwide, HBM Nigeria Plc says it remains committed to driving economic growth and supporting Nigeria’s urbanisation agenda.
Nigeria News (Standard)
Conflict and Corrosive Capital Reshape Ethiopia’s Foreign Investment Climate
Ongoing violence and questionable funding sources threaten investor confidence as Ethiopia seeks economic recovery
Ongoing violence and questionable funding sources threaten investor confidence as Ethiopia seeks economic recovery
Ethiopia’s foreign investment landscape is facing renewed challenges as persistent conflict and the influx of so-called ‘corrosive capital’ unsettle economic prospects across the Horn of Africa nation. Recent developments have raised concerns among both international investors and local stakeholders, with many warning that the current climate could undermine Ethiopia’s post-pandemic recovery ambitions.
The turmoil, which has affected key regions, is causing disruptions to major projects and prompting several investors to reconsider their commitments. Industry observers note that the increased presence of capital from opaque sources—often described as corrosive due to a lack of transparency and potential political strings attached—has further complicated Ethiopia’s efforts to attract sustainable investments.
Ethiopia, once celebrated as one of Africa’s fastest-growing economies, now faces mounting headwinds. The ongoing instability has led to project delays and heightened operational risks for companies in sectors ranging from manufacturing to infrastructure. Economic analysts say this shift is particularly significant given the country’s recent push to diversify its economy away from agriculture and create jobs for its large youth population.
Government officials have acknowledged these concerns, stating their commitment to restoring investor confidence. However, critics argue that without concrete security improvements and stricter oversight on foreign funding sources, Ethiopia may struggle to regain its appeal. Experts also caution that reliance on unregulated capital could expose the country to new vulnerabilities.
Looking ahead, stakeholders are calling for coordinated action by authorities and partners to address both the security challenges and the need for transparent investment frameworks. The outcome of these efforts will be crucial not only for Ethiopia’s economic stability but also for broader regional development.
Dr. Brook Taye
Nigeria News (Standard)
Lagos Police Rule Out Terrorism, Bomb Attack in Thursday Explosion
Authorities say initial investigations show no evidence of terror plot as residents raise safety concerns in affected area
Authorities say initial investigations show no evidence of terror plot as residents raise safety concerns in affected area
The Lagos State Police Command has dismissed claims of terrorism or bomb attack following an explosion that occurred in Lagos on Thursday, 25 June. The clarification comes amid anxiety among residents after the incident, which sparked speculation about its cause and raised fears of a possible security breach in Nigeria’s commercial capital.
According to police sources, preliminary investigations revealed that there was no indication of a terrorist act or the use of explosive devices in the incident. The police did not disclose further details about the exact nature or cause of the explosion but assured members of the public that officers were already on ground to secure the area and prevent further incidents.
The incident has renewed concerns over public safety in Lagos, especially as previous explosions in other parts of Nigeria have sometimes been linked to insurgent groups. However, police emphasised that early findings did not support any link to terrorism or deliberate bombing. Residents who witnessed the event said they heard a loud bang, with some reporting minor damage to property in the vicinity.
In an official statement made available on Thursday, police authorities urged Lagosians to remain calm and avoid spreading unverified information about the explosion. They also called on anyone with useful information regarding the incident to come forward and assist ongoing investigations. No casualties have been confirmed as at press time, and emergency services remain at the site for assessment.
Security agencies are expected to release more information as their investigation progresses. Meanwhile, local leaders have appealed for calm and vigilance among residents while urging government to increase surveillance in urban areas prone to such incidents.
Nigeria News (Standard)
Peter Obi Files ₦5bn Defamation Lawsuit Against Kenneth Okonkwo in Abuja Court
Legal action by Labour Party presidential candidate marks escalation in political tensions ahead of 2027 elections
Legal action by Labour Party presidential candidate marks escalation in political tensions ahead of 2027 elections
Peter Obi, former Governor of Anambra State and Labour Party (LP) presidential candidate in the 2023 elections, has filed a ₦5 billion defamation lawsuit against Nollywood actor and lawyer Kenneth Okonkwo. The suit was lodged at a Federal High Court in Abuja on Thursday, marking a significant legal move in the ongoing political rivalry between both men.
Obi’s legal team initiated the proceedings after alleging that Okonkwo made statements deemed injurious to Obi’s reputation. The details of the alleged defamatory remarks were not disclosed in open court, but sources familiar with the case said the statements were published on social media platforms and widely circulated among political stakeholders. Okonkwo, who is a known supporter of opposition parties and an active commentator on national issues, has yet to publicly respond to the lawsuit.
The development comes as political actors across Nigeria intensify positioning ahead of the 2027 general elections. Peter Obi remains an influential figure within the Labour Party, particularly among young voters and urban professionals. Observers say that this legal action could set a precedent for how high-profile politicians respond to criticism and perceived attacks on their character in the digital era.
As at press time, neither Obi nor Okonkwo had issued official statements regarding the case. However, legal analysts noted that defamation suits involving large monetary claims are rare among frontline politicians in Nigeria, raising questions about its potential impact on future political discourse. Efforts to reach Kenneth Okonkwo for comment were unsuccessful.
The Federal High Court is expected to set a date for preliminary hearings in the coming weeks, with both parties likely to present evidence regarding the alleged defamatory content. Political analysts predict that the outcome could influence how public figures engage with critics ahead of major electoral contests.
Conflict and Corrosive Capital Reshape Ethiopia’s Foreign Investment Climate
Lagos Police Rule Out Terrorism, Bomb Attack in Thursday Explosion
Peter Obi Files ₦5bn Defamation Lawsuit Against Kenneth Okonkwo in Abuja Court
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