Presidency lauds Lafarge Africa’s N133bn Q2 profit performance, credits economic impact
Presidency lauds Lafarge Africa’s N133bn Q2 profit performance, credits economic impact
The Special Adviser on Information and Strategy to President Bola Tinubu, Bayo Onanuga, has praised Lafarge Africa Plc for its robust financial performance in the first half of 2025, asserting that the results underscore the positive impact of ongoing economic reforms in Nigeria.
Lafarge Africa, a leading cement and building solutions company, announced a stellar performance for H1 2025, demonstrating significant growth across key financial metrics.
The company reported a substantial 70 per cent increase in net sales, reaching N269bn. This growth was primarily driven by improved sales volumes, attributed to enhanced plant stability and operational efficiencies.
Similarly, the company’s operating profit saw an even more remarkable surge, improving by 153 per cent due to strong topline growth and continued operational efficiencies.
Its Profit After Tax for the second quarter of 2025 stood at N84bn, representing a significant 248 per cent increase compared to the previous year. For the entire first half of 2025, Lafarge Africa’s PAT reached N133bn.
A key factor contributing to this considerable rise in profitability was the relative stability of the Naira, which mitigated the foreign exchange losses that had heavily impacted the company in the prior year.
Commenting on Lafarge Africa’s results, Onanuga took to X (formerly Twitter) on Tuesday to highlight the broader economic implications.
He said, “Those IDP politicians will never talk about this good news on the economy. They feed on misinformation and disinformation.
“However, they need to understand that the surge in the stock market is a result of the increased profitability of many listed companies, indicating that the economy has undergone significant improvement following President Tinubu’s reforms.”
Onanuga’s statement links Lafarge Africa’s success directly to the efficacy of the current administration’s economic policies, suggesting that the improved profitability of companies like Lafarge is a tangible sign of a healthier economic environment and a contributing factor to the recent surge in the Nigerian stock market.
The strong performance of a major industrial player like Lafarge Africa is often seen as a bellwether for the overall health of the construction sector and the wider economy.
