‘ Lafarge Plc lost N2.5b to insurgency’

CEMENT giant Lafarge Plc lost N2.5 billion to the insurgency in the Northeast between November 2014 and April 2015, according to its Managing Director/Chief Executive Officer (CEO) for Africa, Mr. Guillaume Roux.

Roux, who visited the office of the Presidential  Initiative for the Northeast, added that the company was investing N100 billion in expansion of its business in the region.

The cement chief said the company had decided to partner with the Federal Government in rebuilding the ravaged region.

He said: “We have had some difficulties in the last few months and we estimate we have lost about N2.5 billion during that period.

“We are committed to development of the region. We have a programme of N100 billion to invest. This is why this partnership is very key.”

Roux said that Ashaka Cement, owned by Lafarge, had been in the Northeast for over 40 years.

The company, he said, will be partnering the government in six key areas of entrepreneurship, health, skills acquisition, coal to power solution, education and technology.

The Chairman of PINE, Prof. Soji Adelaja, described the partnership as a welcome development, saying that the company has shown the way forward in community service relation.

He said: “We all know Lafarge is the largest employer of labour in the region. It is important that Lafarge plays leadership role in rebuilding the region and set example for other companies in CSR.”

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