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Lafarge Emerges Top Contributors To Mining Sector’s Social Expenditure

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Latest report from the Nigeria Extractive Industries Transparency Initiative (NEITI) has named Lafarge-Wapco among the top three contributors to the mining industry’s social expenditure in 2020.

According to the report which was released recently, the top three companies altogether paid 94.6 per cent of the total N3.887 billion social expenditure in the mining sector in 2020.

The document listed Dangote Plc, Lafarge-Wapco as well as First Patriots as the three out of the 29 entities that submitted their social spending, as being responsible for the N3.48 billion of the N3.887 billion payment.

Detailing the data in its Solid Minerals Audit for the year under review, the Dr. Ogbonnaya Orji-led organisation noted that while Dangote paid N2.18 billion, representing 56.36 per cent, Lafarge-Wapco made a payment of N1.260 billion, while First Patriots paid N219.9 million.

A further breakdown of the report revealed that Lafarge-Wapco contribution represent 32.57 per cent of the entire contribution to the mining industry’s social expenditure in 2020. Some other companies which provided documents on their social spending during the period, according to NEITI, included: CCECC, Nigeria Limited, which paid out N49.2 million or 1.7 per cent and Triacta which expended N35.5 million or 0.92 per cent of total spending.

In all, the 29 companies spent N376.5 million on their mandatory social obligations and N3.495 billion on non-mandatory social spending, to hit a total of N3.87 billion.

Lafarge Africa Plc, an Africa building solutions company is a member of Holcim Limited, a world leader in building solutions accelerating our world’s green transformation. Listed on the Nigerian Exchange, Lafarge Africa is actively participating in the urbanisation and economic growth of Nigeria, the largest economy in Africa.

 

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