Lagos — Lafarge Cement WAPCO Nigeria Plc,one of the nation's cement manufacturing companies,says it has invested over N100 billion in the production of cement in Nigeria in the last 50years.
Chairman of the company,Chief Olusegun Osunkeye,who disclosed this at a media parley in Lagos yesterday also said WAPCO is poised to multiply its investment portofolio in the country's cement sector in the coming years.
The company began operation in Nigeria in 1960.
Osunkeye said the fact that the company celebrated its 50years presence in Nigeria with the nation's golden jubilee Independence anniversary lent credence to mutual and sustainable relationship between the duo which would in the long run impact on the economy.
He said his company is confident of not only sustaining,but also surpassing its achievements in the cement sector in the next 50years.
"From next year,its capacity will be doubled with the commencement of Lakatabu Project to increase production from 2.2metric tons to 4.2metric tons of cement to enable the company keep up the pace of growth in the construction industry".
Osunkeye also said the company's shareholders have benefited immensely from its growth pattern,adding that its stakeholders would be continually rewarded by the cement company.
According to him,the company over the years has paid several millions of naira to government as tax,while its host communities have benefited from its corporate social responsibility initiatives.
"Indeed, the birth of Lafarge WAPCO was borne out of great corporate nationalism.The company was established at a time when Nigeria was fighting to gain independence and secure its economic freedom from the British colonial government.It was established at a time when Nigeria depended solely on importation of cement into the country.
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