Business
Lafarge Africa Plc Posts N97.95bn Profit, Up 101% in Q1 2026
BY NKECHI NAECHE-ESEZOBOR—The Board of Directors of Lafarge Africa Plc has reported a strong financial performance for the first quarter of 2026, with Profit After Tax (PAT) rising to N97.95 billion—representing a 101 per cent increase from N48.64 billion recorded in the corresponding period of 2025.
The company also recorded significant growth in revenue, with net sales climbing by 35 per cent to N334.88 billion in Q1 2026, compared to N248.35 billion in the same period last year.
Commenting on the results, the Group Managing Director/Chief Executive Officer, Lolu Alade-Akinyemi, attributed the strong performance to sustained revenue growth, improved operational efficiency, and disciplined cost management.
“Our Q1 2026 results reflect continued progress in executing our strategic priorities. Net sales grew by 35 per cent year-on-year, supported by improved volumes, enhanced plant stability, and greater distribution efficiency. Operating profit rose by 97 per cent to N141 billion, while profit after tax increased by 101 per cent to N98 billion,” he said.
He added that the performance was driven by supply reliability, prudent financial management, and an improved route-to-market strategy.
Alade-Akinyemi noted that the company will continue to leverage the industrial and technical expertise of its strategic partner, Huaxin Building Materials Ltd, to further optimise operations and unlock additional efficiencies.
Looking ahead, he said the company would maintain a strong focus on disciplined capital deployment, cost control, and capturing growth opportunities across its markets. He added that improving macroeconomic conditions and easing global supply chain disruptions have supported rising consumer demand and volume growth.
“We anticipate continued expansion in Nigeria’s infrastructure and construction sectors, driven by improving economic fundamentals and demand across key segments. We remain focused on capturing these opportunities while maintaining cost optimisation to protect margins,” he stated.
He also expressed appreciation to customers and stakeholders for their continued support, reaffirming the company’s commitment to delivering consistent performance and long-term value.
“Our sustainability-led growth model remains central to our long-term value creation, supported by disciplined execution and operational excellence,” he added.
Lafarge Africa Plc said it will continue to prioritise supply reliability, cost leadership, innovation, and sustainability, while maintaining high standards in health and safety across its operations.
About Lafarge Africa Plc
Lafarge Africa Plc, a member of the Huaxin Group, is a leading provider of innovative and sustainable building solutions in Nigeria. Established in 1959 and listed on the Premium Board of the Nigerian Exchange Limited, the company operates cement plants in Sagamu and Ewekoro (Ogun State), Ashaka (Gombe State), and Mfamosing (Cross River State), with a total installed production capacity of 10.5 million metric tonnes per annum. It remains committed to sustainable development, combining industrial efficiency with environmental responsibility and stakeholder value creation.
The post Lafarge Africa Plc Posts N97.95bn Profit, Up 101% in Q1 2026 appeared first on Business Today NG.
MTN Nigeria Communications Plc has announced the exit of Eyitope Kola-Oyeneyin, an Independent Non-Executive Director on its board.
MTN Nigeria disclosed this in a statement released on the Nigerian Exchange Limited (NGX) and signed by Uto Ukpanah, the company’s secretary, on Friday.
The telecommunications giant noted that Mrs Kola-Oyeneyin’s exit will take effect from 31 August, although MTN did not state the reason for her exit in the regulatory filing.
She joined the company’s board in December 2024.
The company extolled Mrs Kola-Oyeneyin’s contributions to the board and wished her success in her future endeavours.
“The Board extends its appreciation to Mrs. Kola-Oyeneyin for her invaluable service and wishes her the best in her future endeavours,” the company said.
Profile
Mrs Kola-Oyeneyin is a systems change leader and transformation expert with over 20 years of global experience as a senior adviser, operating executive, and policymaker across multiple African countries.
She is the Managing Partner of Augmentum Advisory, where she advises senior leaders on growth and value creation through digital transformation, policy innovation, and large-scale programme execution.
The outgoing independent director is also experienced in digital financial services and has extensive knowledge of the financial services landscape in Sub-Saharan Africa.
In July, the federal government approved her appointment as Chairperson of the Nigerian Investment Promotion Commission (NIPC).
Mrs Kola-Oyeneyin previously served as Head of First Bank’s International Banking business and as a Partner and inaugural co-lead of McKinsey’s Payments and Fintech Practice for Eastern Europe, the Middle East and Africa.
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She has worked with players across Africa’s financial services value chain and led the development of initiatives including Cashless Lagos and the Shared Agent Network Expansion Facilities (SANEF) agent banking programme, which contributed to efforts to expand financial inclusion in Nigeria.
MTN Nigeria, which began operations in the country in 2001, is one of Nigeria’s largest telecommunications providers, serving more than 92 million people across the country and operating in 19 markets in Africa.
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