By Henry Umoru
ABUJA — The Senate has endorsed the proposed sale of Lafarge Africa Plc to Hainan Huaxin Pan-African Investment Company Plc, urging all relevant regulatory agencies to ensure strict compliance with Nigerian laws throughout the transaction.
The upper chamber said the acquisition should proceed provided all statutory requirements and due processes are fully observed to guarantee a seamless transaction and transition.
It also stated that, based on its findings, the proposed deal does not pose any immediate national security risk, while calling on regulatory authorities to maintain close oversight of the process.
The Senate further urged the company to strengthen its corporate social responsibility initiatives to ensure host communities benefit from its operations.
