HBM Nigeria Plc, formerly Lafarge Africa Plc, is positioning itself to capture a share of the fast-growing global green cement market valued at approximately N38.2 trillion ($24.8 billion) in 2025, as the company expands investments in sustainable production, innovation and job creation in Nigeria.
The market is projected to reach about N80.5 trillion ($52.3 billion) by 2034, representing a compound annual growth rate of 8.7 per cent, according to DataIntelo. The growth is being driven by increasing demand for low-carbon construction materials, stricter environmental regulations and the push by industries worldwide to achieve net-zero emissions targets.
The Group Managing Director and Chief Executive Officer, HBM Nigeria Plc, Lolu Alade-Akinyemi, said the company is exploring opportunities in eco-friendly cement production as part of its strategy to support Nigeria’s industrial growth while creating employment opportunities.
He said HBM Nigeria is investing in the development of sustainable cement formulations designed for industrial infrastructure projects and emerging construction needs, while supporting global efforts to reduce carbon emissions.
Speaking during a media engagement in Lagos to provide insights into the company’s transition to HBM Nigeria Plc, Alade-Akinyemi said sustainability remains at the heart of the company’s business strategy.
He explained that the company’s investments in communities, environmental protection and local capacity development are aimed at improving livelihoods and creating long-term economic value across Nigeria.
“Our sustainability initiatives continue to impact lives and strengthen communities because we believe strongly in sustainability, and we put our money where our heart is. Every year, we continue to increase our investments because creating shared value for our communities is fundamental to who we are as a business. We will continue to grow our business sustainably, invest in research and innovation, create opportunities for Nigerians and deliver value to our customers, shareholders and communities,” he said.
The HBM Nigeria chief executive disclosed that the company has consistently increased its annual sustainability spending over the last five years, supporting programmes in education, healthcare, environmental conservation, community infrastructure and youth empowerment across its host communities.
According to him, the projects are expected to create more than 100 direct jobs upon completion, while generating thousands of indirect employment opportunities across the supply chain through increased participation of local contractors, suppliers and small and medium-sized enterprises.
“Our expansion is about much more than increasing production capacity. It is about creating jobs, empowering local businesses, supporting Nigerian contractors, and delivering lasting economic benefits. The multiplier effect is enormous, and this is only the beginning,” he said.
He added that HBM Nigeria is also pursuing operational efficiency measures, alternative energy solutions and productivity improvements to reduce production costs and strengthen competitiveness in the cement industry.
Alade-Akinyemi assured customers and stakeholders that the company’s rebranding would not affect the quality and reliability of its products, noting that its established brands would remain unchanged.
“The brands Nigerians have trusted for decades remain the same. Elephant Cement remains Elephant. Unicem remains Unicem. Ashaka remains Ashaka. Our products, our quality, and our commitment to excellence have not changed,” he added.
The company said its sustainability-focused investments align with the broader global transition towards greener construction materials, positioning Nigeria’s cement industry to play a greater role in climate action while supporting economic growth and employment generation.
