Lafarge Africa Plc has launched a partnership with the Presidential Initiative for the North East (PINE) on the rehabilitation and rebuilding of the region’s economy following the Boko Haram insurgency, pledging to invest NGN100bn (US$502.5m) for the expansion of its business in the region.
He said the company had decided to partner with the Federal Government in rebuilding the ravaged North Eastern region as part of the company’s committment to rebuilding the region, saying:
Guillaume Roux, managing director/CEO of Lafarge Africa plc, who declared the firm’s intention to invest in the region’s economy during Lafarge Africa’s courtesy visit to the Presidential Initiative for the North East (PINE), said that the cement company lost NGN2.5bn to the Boko Haram insurgency that ravaged the North Eastern part of the country between November 2014 and April 2015. “We have had some difficulties in the last few months and we estimate we have lost about NGN2.5bn during that period,"
While explaining that Ashaka Cement Plc, a subsidiary of Lafarge Africa Plc has been in the North East for over 40 years and has been a major player in the economic development of the region, he affirmed: “We are committed to development of the region. We have a programme of NGN100bn to invest in. This is why this partnership is very key.”
He said as private investors, the company can bring quick solution to help the north east rebuild quickly. He said the company will be partnering with the government in six key areas of entrepreneurship, health, skills acquisition, coal to power solution, education and technology. (Source: AllAfrica News)