Economy
Improved Distribution Efficiency Raises HBM Nigeria H1 2026 Revenue by 31%
By Aduragbemi Omiyale
HBM Nigeria Plc, formerly Lafarge Africa Plc, recorded a 31 per cent surge in revenue in the first half of 2026 by 31 per cent as a result of an 11 per cent jump in volume growth, enhanced operational stability and improvement in distribution efficiency.
Also, in the first six months of this year, the cement maker grew its operating profit by 51 per cent to N291 billion after sustained efficiency gains across the business, while operating margin soared to 43 per cent from 37 per cent in H1 2025, with the net profit increasing by 57 per cent to N208 billion.
HBM Nigeria is a leading provider of innovative building solutions and manufacturer of a wide range of cement, ready mix, mortar and Plaster of Paris brands.
“Our H1 2026 performance demonstrates the continued strength of our business and the successful execution of our strategic priorities. These results reflect disciplined cost management, operational excellence, and prudent financial stewardship.
“We are focused on further improving supply reliability, advancing our cost leadership agenda, driving innovation, accelerating our sustainability initiatives, and maintaining the highest standards of health and safety,” the chief executive of HBM Nigeria, Mr Lolu Alade-Akinyemi, disclosed.
He assured that the cement firm would remain focused on building on a strong operational momentum by leveraging the industrial and technical expertise of Huaxin Building Materials Ltd to drive operational excellence and improve efficiency across the business.
In light of this, HBM Nigeria has commenced the engineering design for its third production line at Calabar, a state-of-the-art 3-million-ton integrated cement facility. The project is progressing through the requisite development processes, with completion expected within 12 months following commencement of construction.
On HBM Nigeria’s business outlook for the rest of the year, Mr Alade-Akinyemi said, “Nigeria’s demand outlook for cement remains positive, supported by ongoing infrastructure development, urbanisation, and resilient activity across the construction sector, despite a dynamic global operating environment.”
“As macroeconomic conditions continue to improve, we expect demand across our key market segments to remain supportive of sustainable growth.
“We plan to continue focusing on capturing volume growth opportunities while maintaining disciplined cost management and operational excellence to strengthen profitability and preserve margins.
“The company remains well positioned to create sustainable long-term value for its shareholders and all stakeholders by leveraging its resilient operating platform, a strong balance sheet, and disciplined execution of strategic priorities,” he stated.
By Aduragbemi Omiyale
One of the leading manufacturing companies in the country, May & Baker Nigeria Plc, has distanced itself from an investment scheme it described as “fraudulent.”
In a statement on Tuesday, the firm stressed that it has no relationship whatsoever with M&B Equity Stake investment scheme, warning members of the public to “remain vigilant and verify any purported investment opportunity or communication relating to the company through its official communication channels before taking any action.”
May & Baker disclosed that it is not currently undertaking any rights issue, public offer or other capital-raising exercise involving the solicitation of investments from the public.
It stated that any future capital-raising exercise will be formally communicated through its authorised communication channels and conducted in accordance with applicable laws, regulations and the requirements of the Nigerian Exchange (NGX) Limited and other relevant regulatory authorities.
It, therefore, advised the investing public “to disregard such communications, refrain from making any payment or disclosing personal or financial information in response to them and report any such fraudulent activity to the appropriate authorities.”
May & Baker said any person, platform, flier, message, website or other communication soliciting funds from the investing public in the name of May & Baker Nigeria Plc in connection with an M&B Equity Stake or similar investment opportunity is fraudulent, unauthorised and not issued by or on its behalf.
By Adedapo Adesanya
Two advisers to Dangote Petroleum Refinery’s planned Initial Public Offering (IPO) on Tuesday announced a $1 billion underwriting programme for the offering, giving the plant potentially powerful new route to African and international capital.
Marob Strategies and Consulting DIFC Limited and Lilium Capital Group said in a statement that the programme comprises a completed and funded $600 million private placement and a $400 million underwriting commitment for the planned IPO.
The $600 million placement is already complete.
The remaining $400 million commitment will only come into effect when the IPO is launched and remains subject to market conditions, regulatory and corporate approvals, and definitive documentation and securities-law requirements, according to the advisers.
Dangote Petroleum Refinery, built by Africa’s richest man Aliko Dangote, has become a symbol of Nigeria’s attempt to reduce dependence on imported refined petroleum products while building domestic refining and petrochemical capacity.
Recall that it has applied to Nigeria’s Securities and Exchange Commission (SEC) for a $5 billion IPO. However, the final size of the offering has yet to be determined.
The refinery has emerged as a major beneficiary of supply disruptions linked to the Iran war, increasing sales of jet fuel across Africa and into Western Europe as buyers seek alternative supplies.
The planned listing could rank among the largest IPOs in Africa, depending on the final size of the offering and market conditions at launch.
“This is an important milestone for DPRP and for African capital markets,” Mr Dangote said in the announcement, describing the completed placement and IPO underwriting commitment as a sign of confidence in the refinery’s strategic role.
On his part, Marob Strategies Chairman, Mr Benedict Oramah, a former president of the refinery’s backer Africa Export-Import Bank, said investor interest demonstrated appetite for African-led capital markets transactions involving transformative assets on the continent.
Adding his part, Lilium Capital Chairman, Mr Simon Tiemtoré, similarly framed the deal as an effort to connect major African investment opportunities with institutional capital across the continent and international markets.
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) could impose fines of up to five per cent of the annual turnover of petroleum operators found guilty of serious anti-competitive practices in the midstream and downstream sectors.
This was contained in the draft regulations of the proposed Midstream and Downstream Petroleum Prevention of Anti-Competitive Practices and Behaviour Regulations, 2026.
According to the proposal, errant companies of serious offences such as price-fixing, bid-rigging, market allocation, abuse of market dominance and other conduct capable of causing significant harm to competition could be fined between three and five per cent of their annual turnover.
It further proposed that persistent or serious offenders may also have their licences suspended or revoked, while the NMDPRA may impose daily penalties on operators that fail to comply with its orders or continue prohibited conduct after being directed to stop.
The draft regulation stated: “Where the Authority determines, after investigation and due process, that a licensee or any other person has engaged in anti-competitive conduct or breached any provision of this Regulation or the Act, it may impose administrative fines as provided herein.
The maximum administrative fine shall not exceed five per cent of the annual turnover of the offending undertaking for the preceding financial year.
“For purposes of these regulations, ‘annual turnover’ means gross revenues or sales derived from the regulated business activities in Nigeria. Where multiple entities or group structures are involved, the Authority may consider the turnover of the group, subsidiary, or segment most directly involved in the infringement.”
“Where a licensee or person fails to comply with an order or directive of the Authority, a daily penalty may be imposed for each day the violation continues.
“Where a prohibited practice continues after a final order, the daily penalty could rise to between N10m and N50m. Before imposing a fine, the NMDPRA would issue a Notice of Intention to Fine setting out the facts and findings, the nature of the infringement, the basis for calculating the proposed fine and the proposed deadline for payment,” it proposed.
