{
  "id": 17206075,
  "title": "Dangote Cement, BUA Cement and HBM Nigeria: The cracks beneath the profits",
  "url": "https://urgent.news/2026/10/30/dangote-cement-bua-cement-and-hbm-nigeria-the-cracks-beneath-the",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-30T08:59:58.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/10/30/dangote-cement-bua-cement-and-hbm-nigeria-the-cracks-beneath-the-profits/"
  },
  "original_language": "en",
  "account": "Nigeria's cement industry, dominated by Dangote Cement, BUA Cement, and HBM Nigeria, has seen significant profits despite high pricing power. The three companies reported a combined N1.7 trillion after tax in the nine months to September, a 38% increase year on year. Bag prices now exceed N12,500, raising concerns about sustainability.\n\nDangote Cement led the pack with a 51% jump in third-quarter profit, while BUA Cement's sales surged 28.5%, and HBM Nigeria's profits dropped 15%. All three companies saw cost increases, with HBM Nigeria's maintenance costs doubling and HBM's cash reserves falling sharply. Despite the challenges, Dangote Cement managed to halve its debt and generate more cash than its rivals. BUA Cement paid a high dividend, while HBM Nigeria's dividend payout accounted for 130% of last year's earnings. The looming question is whether the sector can maintain such high margins amid increased capacity.",
  "summary": "Dangote Cement, BUA Cement and HBM Nigeria, the former Lafarge Africa, made N1.7trillion after tax in the nine months to September, up 38% year on year. The post Dangote Cement, BUA Cement and HBM Nigeria: The cracks beneath the profits appeared first on Nairametrics .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}