Amid Price Hike, Cement Manufacturers Rake N5.8tn Revenue in 9 Months

Dangote Cement Plc, Lafarge Africa Plc, and BUA Cement Plc, the three biggest cement producers in Nigeria, reported a combined N5.8 trillion revenue over the nine months to September 30, 2026. This figure marks a 21% increase compared to the N4.8 trillion earned in the same period in 2025.

Dangote Cement's revenue grew by 19.6% to N3.8 trillion, driven by an expansion of its production capacity to 22.1 million metric tonnes from 20.2 million tonnes in the same period last year. The company sold 14.1 million tonnes of cement, a 6.4% rise. Its average selling price also increased by 9.4% to N170,493 per tonne.

Lafarge Africa Plc saw a N1.09 trillion revenue, up by 26.5% from N858.72 billion in 2025. HBM Nigeria declared N928.25 billion, a 19% rise from N780.5 billion in 2025. The surge in revenue is attributed to increased activities in Nigeria's construction sector, fueled by federal and state government infrastructure projects, housing development, and private-sector investments.

The cost of sales also increased significantly, with the three companies together recording a N2.23 trillion cost of sales, an increase from N2.04 trillion in 2025. However, the profit before tax rose by 21.4% to N2.01 trillion, up from N1.66 trillion in the same period last year. Dangote Cement, the largest contributor, recorded a profit before tax of N1.04 billion, a 3.5% increase from the previous year.