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Lafarge Africa PLC Records 63% Revenue Growth of N780.48bn in 9 Months

Bassey Inyang in Calabar

Lafarge Africa Plc, a leading innovative and sustainable building solutions company and manufacturer of a range of cement brands, recorded sales revenue of N780.48 billion in the nine months of 2025, representing a growth of 63 per cent compared to N479.49 billion in the corresponding period of 2024.

A breakdown of the results revealed that Profit After Tax (PAT) for the nine months period grew from N60.08 billion, in the corresponding period of 2024, to N207.78 billion, representing a 246 per cent increase.

Making the announcement in a press statement, Office of Corporate Communications, Lafarge Africa Plc, said the rise in profit could be attributed to volume growth, efficiency gains, and stability of the naira.

It stated, “Cost of Sales rose from N241.73 billion in 2024 to N324.36 billion in the 9-month period under review in 2025, while administration and selling expenses experienced a sharp rise of 48 per cent from N109.74 billion in 2024 to N162.03 billion in 2025.”

CEO of Lafarge Africa, Lolu Alade-Akinyemi, stated, “Building on the performance from previous quarters, Q3 results showcase our cost discipline, strategic market positioning, unwavering commitment to value creation, and strong operational efficiency – demonstrated by a +7 percent YoY improvement in capacity utilisation. We ended Q3 with Net Sales up 43 per cent, Operating Profit up 107 per cent, and PAT of N75bn.

“We closed 9 months 2025 with Net Sales and Operating Profit up 63 per cent, and 129 percent, respectively.

“Our nine months 2025 performance reaffirms our resilience, underpinned by sustained volume growth, operational excellence, innovative product offerings, and agile response to market opportunities.

“This performance also reflects our alignment with a more stable naira, the stability of operations, and continued efficiencies across the business. Lafarge Africa is positioned to leverage the strength of Huaxin’s technical and operational capabilities to further improve our supply capacity, core technical skills, and operations.

“Huaxin Cement Group is a leading global cement producer and equipment manufacturer with over 100 years legacy in the cement industry.”

The company said, “As we look forward, we remain attentive to the dynamic macroeconomic environment, and we are confident that our resilience and strategic focus position us to seize emerging opportunities, drive sustainable growth, and deliver lasting value.”

The statement said Lolu Alade-Akinyemi’s “innovative product offerings and efficiency gains drove the company’s outstanding performance in Q3. The last nine months have witnessed the launch of Nigeria’s first low-carbon ready-mix concrete, ECOcrete, and ECOplanet Elephant cement, in our Western Market, to complement the product success recorded following the launch in the Eastern market in 2024.”

It indicated that the Larfage CEO expressed appreciation to shareholders, customers, and partners for their continued confidence and support, reaffirming the company’s commitment to delivering long-term value despite a challenging macroeconomic environment.

The outlook remains positive, with the buildings market expected to grow significantly, he stated, adding that the market growth for the rest of the year is projected to align with the strong upward trend observed in the first nine months of the year.

“The focus remains to seize emerging opportunities, drive sustainable growth, and deliver lasting value to our stakeholders,” the statement quoted the CEO of Lafarge Africa PLC as saying.

​  

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    Adedeji: FIRS Collected N22.59tn in 9 Months, N47.39tn in 2 Years

    Adedeji: FIRS Collected N22.59tn in 9 Months, N47.39tn in 2 Years

    •Says service transformation to Nigeria Revenue Service will expand mandate to include non-tax revenue collection from NUPRC

    •Assures on fair implementation of new tax laws, simplification and revenue maximisation, others

    James Emejo in Abuja

    Chairman, Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, said the service had achieved significant revenue improvements, as tax collections reached N22.59 trillion between January and September 2025.

    Adedeji said the service also achieved a record-breaking revenue growth of N47.39 trillion between October 2023 and September this year, representing 115 per cent of its target.

    Highlighting FIRS’ key achievements under his watch, he said 2025 represented a period of remarkable achievements and transformation, as non-oil revenue accounted for 76 per cent of total collections, reflecting diversification and reform success.

    Giving a breakdown of key tax performance, Adedeji said oil tax revenue stood at N5.29 trillion, representing 98 per cent of target, while non-oil taxes stood at N17.3 trillion, representing 128 per cent of the target for the nine-month period and 76 per cent of total collection.

    Non-import VAT accounted for 137 per cent of target while import VAT accounted 131 per cent of target.

    Adedeji further assured of fair implementation of the new tax laws, vowing that the service will meet and surpass government revenue target, continually pursue the digitalisation of tax processes, training and retraining of officers, as well as partnership with all stakeholders.

    He said FIRS’ proposed transformation to the Nigeria Revenue Service (NRS), effective January 1, 2026, will expand the agency’s mandate to include non-tax revenue collection from Nigeria Upstream Petroleum Regulatory Commission (NUPRC).

    Adedeji stated that building on the foundations laid during his first year in office, the service had continued to strengthen the country’s tax administration through strategic reforms, technological innovation, and enhanced operational efficiency.

    He said during the period, the service not only met its revenue targets but also advanced several landmark initiatives that were reshaping the fiscal landscape.

    Key milestones included meeting and sustaining revenue collection targets through improved efficiency and compliance measures, and passage of key tax reform acts designed to modernise Nigeria’s tax framework and promote transparency.

    Under his watch, Adedeji said the service drove the implementation of National Single Window Project to simplify and harmonise trade and tax processes, as well as the launch of the e-invoicing system to enhance accuracy, accountability, and digital integration in tax collection.

    He said the tax policy consisted of a tripod – basically the development of sound and inclusive tax policies that support national growth and fiscal stability; promoting fairness, broadening the tax base, and aligning policy direction with the country’s long-term economic objectives.

    The FIRS chairman further clarified that recent tax reforms through the enactment of new laws aimed to promote fairness and equity, competitiveness, simplification, and

    efficiency of the tax system.

    He said modernisation of tax administration was being implemented through technology, process improvement (restructuring of internal operations to a one-stop-shop), and staff capacity development.

    Adedeji explained, “A major highlight of 2025 was the successful passage of several key tax reform laws, part of the government’s broader fiscal modernization agenda. These new laws aim to simplify tax compliance, close administrative gaps, and align Nigeria’s tax system with international best practices.

    “Also, a key reform is the transformation of FIRS to the Nigeria Revenue Service (NRS), effective January 1, 2026. This expands the agency’s mandate to include non-tax revenue collection from Nigeria Upstream Petroleum Regulatory Commission (NUPRC).”

    Adedeji said, “Building on progress made in 2024, the National Single Window Project advanced significantly in 2025. The digital platform, designed to connect ports, government agencies, and trade stakeholders, is streamlining import and export processes, reducing clearance times, and improving transparency.

    “This initiative continues to strengthen Nigeria’s global trade competitiveness and supports the government’s broader agenda to enhance efficiency and ease of doing business.

    “In August 2025, FIRS launched the full implementation of the National e-Invoicing Solution (Merchant-Buyer Model) following a successful pilot phase. The system enhances transparency, efficiency, and real-time monitoring of business transactions.”

    He stressed that the *829# USSD Code initiative, which was launched on October 9, 2024, will allow taxpayers to access services including retrieving their Taxpayer Identification Number (TIN), verifying TCCs, viewing tax types and rates, locating tax offices and making general enquiries directly from their mobile phones.

    On collaborations with other agencies and taxpayer education and awareness, Adedeji stated that FIRS will host a tax clinic across the country to improve tax education and compliance among small businesses, start-ups, and informal sector operators, offering direct assistance with tax filing and dispute resolution.

    Commenting on international tax cooperation, he said FIRS advanced Nigeria’s global tax leadership by concluding five mutual agreement processes with Belgium, France, and Netherlands, as well as partnership with the Swedish Revenue Agency to facilitate α training programme on tax administration to increase voluntary compliance.

    He said the service concluded treaty negotiations with Hong Kong, Botswana, Tanzania, Rwanda and Switzerland, including renegotiation of legacy tax treaties starting with the Netherlands, and commenced treaty negotiations with Saudi Arabia, Kuwait, Qatar, Morocco, India and Jersey.

    Adedeji said, “FIRS has in 2025, continued its transformation into a modern, technology-driven, and service-oriented institution, and has achieved major legislative, operational, and technological milestones that position it for sustained growth and greater efficiency.

    “FIRS remains committed to simplifying tax, maximizing revenue, and enabling national development through transparency, innovation, and stakeholder collaboration.”

    ​  

    •Says service transformation to Nigeria Revenue Service will expand mandate to include non-tax revenue collection from NUPRC •Assures on fair implementation of new tax laws, simplification and revenue maximisation, others

    Continue reading
    Lamido Joins PDP National Chairmanship Race, Picks Nomination Form Today

    Lamido Joins PDP National Chairmanship Race, Picks Nomination Form Today

    Chuks Okocha and Adedayo Akinwale in Abuja

    Former governor of Jigawa State, Sule Lamido, has joined the race for the office of National Chairman of Peoples Democratic Party (PDP), and he is expected to pick his nomination form today.

    Lamido told THISDAY that he would pick the national chairmanship nomination form Monday at the PDP national secretariat in Abuja.

    By implication, the consensus nomination of former Minister of Special Duties, Kabiru Tanimu Turaki, might have failed.

    It was also expected that former governor of Benue State, Samuel Ortom, would pick his nomination form within the week

    It was learnt at the weekend that PDP chapters in the North-west had rejected the nomination of Turaki.

    Kebbi State chapter of PDP, for instance, rejected the endorsement of Turaki as the northern consensus candidate.

    The PDP national organising secretary, Umar Bature, told news men last week that the nomination of Turaki was an imposition without any consultation.

    The rejection followed an emergency meeting of the state chapter held on Saturday in Birnin Kebbi.

    In a statement issued after the meeting, State Publicity Secretary, Sani Dododo, said the decision by northern PDP governors to adopt Turaki was taken without consulting the Kebbi State chapter.

    The statement said, “Kabiru Tanimu has never reached out to the Kebbi State chapter regarding his ambition. He has also not participated in any recent party activities within the state.

    “Accordingly, the Kebbi State chapter outrightly rejects the purported adoption of the former minister as the consensus candidate.”

    The northern PDP leaders had earlier endorsed Turaki as the consensus candidate for the forthcoming national elective convention scheduled to hold on November 15 and 16 in Ibadan.

    The endorsement was reached at a meeting in Abuja attended by PDP governors, former Senate President Bukola Saraki, Acting National Chairman Umar Damagum, and other northern stakeholders.

    Meanwhile, PDP lawmakers from the South-east in the National Assembly threatened to boycott the party’s national convention if the position of woman leader, originally zoned to Imo State, was hijacked by Governor Seyi Makinde of Oyo State for South-south.

    Checks revealed that the position was initially zoned to the South-east, with Imo State favoured candidate and current South-east zonal woman leader, Mrs. Arodiogbu Ifeyinwa, billed to clinch it, before Governor Peter Mba of Enugu State nominated an Enugu woman, who recently followed him to All Progressives Congress (APC), thereby giving Imo PDP the chance to clinch the position.

    A member of the House of Representatives, Hon. Imo Ugochinyere, in a statement, said they would issue a disclaimer against the convention in two weeks and would not participate if South-east was humiliated by those who wanted to rubbish an entire region.

    He stressed that there was still time to remedy the situation before the screening on Tuesday next week, saying no elected lawmaker from South-east would remain in PDP if the impending insult was allowed to happen.

    Ugochinyere added, “The current South-east zonal woman leader, Ifeyinwa Arodiogbu was unanimously backed by South-east PDP chieftains to clinch the position before  Governor Mbah, who is now in the ruling All Progressives Congress APC) allegedly influenced the zoning to Enugu and took the woman leader for Enugu after supporting Gov. Makinde to take the National Secretary that belonged to South-east and Imo state to South-west.

    “We don’t want to see PDP suffer more setbacks. Still, we will stick to our position on the Ibadan convention if, in the next few weeks, the position of National woman leader is not ceded expressly to Imo State and an Imo person allowed to emerge.

    “Now that Governor Mbah has left for APC, that earlier arrangement of producing a woman leader is not going to stand because Gov. Mbah’s woman leader nominee is also in APC with him.”

    ​  

    Chuks Okocha and Adedayo Akinwale in Abuja Former governor of Jigawa State, Sule Lamido, has joined the race for the office of National Chairman of Peoples Democratic Party (PDP), and

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    Revaluation gain helps Tolaram-backed Guinness Nigeria return to profitability
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    Nigerian Breweries records ₦1.04 trillion revenue in nine months

    Nigerian Breweries records ₦1.04 trillion revenue in nine months
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    D&M S2 Ep 8: Cyber Fraud, Gold Crash, Capital Gain Tax heat and AI Land Grab
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    Flutterwave, Paga CEOs hail FATF exit as boost for cross-border payments 
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    Inflation War: Between Official Triumph and Citizens’ Tears
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    NNPC lauds Ekperikpe, Mshelbila’s election into top positions in global gas forum

    NNPC lauds Ekperikpe, Mshelbila’s election into top positions in global gas forum
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    Roxettes Group mulls relocating plants from Southeast to Lagos over insecurity  
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    Lagos reintroduces another 61-day amnesty window on existing buildings without planning permit
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    LivingTrust Mortgage Bank records N255.6 million pre-tax profit in Q3 2025, up 7.04% 
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    Lagos insists computer village relocation will soon be a reality with flexible payment plan
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    Abbey Mortgage posts N670 million pre-tax profit in Q3 2025, beats forecast
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    Naira breaks below N2,000/£ against the British Pound Sterling