In its celebration of five decades of being at the forefront of cement manufacturing and sales in Nigeria, Lafarge Cement WAPCO Nigeria Plc, has pledged its continual contribution to the growth of the Nigerian economy through its brand, Elephant cement.
Speaking at the media interactive session in Lagos, to announce its 50th anniversary, the Chairman, Board of Directors, Chief Olusegun Osunkeye, said, the company is committed to supporting the government in strengthening the nation’s economy.
“Over the years, the company has acquired strategic and visible presence in the business environment with competitive advantage in terms of product quality and consistence of their product.
“We will continue to create employment by expanding our production plants and adding value to people’s lives”. He said that Lafarge WAPCO has also made tremendous contributions to the availability of cement in this country and nation’s industrial scene in general.
Osunkeye said that since the company has been profitable, stakeholders, shareholders and customers have also benefited even while the company has been paying tax.
He added that the company is confident of not only sustaining, but surpassing these achievements in the next 50 years and ensuring that its capacity will be doubled with the commencement of the Lakatabu project to increase production from 2.2 metric tons to 4.2 metric tons of cement yearly to enable the company keep up the pace of growth in the construction industry.
When asked why the price of cement is high, he said that the price of cement is determined by many factors which the company alone cannot control. He cited infrastructural deficiency as one of factors and the deterioration of Nigerian road network system and insecurity amongst other factors as the reason.But in all,he urged government to create enabling environment and policies that will cause economic growth and development.