The benefits to the shareholders were disclosed on the floor of the Nigerian Exchange last Wednesday during the “Facts Behind the Figure” presentation, by the Management and Board of Dangote Cement, which was ably led by the new Chairman, Mr. Emmanuel Ikazoboh.

Ikazobor who just assumed the position of the chairman from Aliko Dangote, thanked the shareholders for standing by the company, while also assuring them of consistent good returns on their investments.

He said Dangote Cement remains resolute in transforming Africa by creating sustainable value for all its stakeholders, as it will do all to achieve its vision of making Africa self-sufficient in cement and clinker.

He stated that:

“To our investors, you have my unwavering commitment to safeguarding and growing your investment. To our regulators and market operators, you have my pledge of continued partnership and adherence to governance standards that lead rather than follow. To our employees and partners, you have my gratitude and my assurance that our collective strength will propel us to achievements we haven’t yet imagined.”

Speaking further on the future of the company, Arvind Pathak, the chief executive of the company, said:

“We aim to expand installed capacity to 66.4Mta by 2030, supporting our long-term vision of making Africa self-sufficient in cement and clinker production. This growth will be driven by a mix of greenfield and brownfield projects.”

He revealed that the company has commissioned the first phase (1.5Mta) of its 3Mta Côte d’Ivoire plant, while construction of the 6Mta integrated Itori Plant continues to advance steadily.

In addition, the company, according to him, has announced a $400 million investment to double its production capacity in Ethiopia.

He added that:

“Over the past 15 years, DCP has committed more than $8.5 billion in capital investments across Africa, underscoring our long-term confidence in the region’s growth prospects.”

Dr. Umaru Kwairanga, group chairman of the Nigerian Exchange Group (NGX Group), praised the President/Chief Executive, Dangote Group, Aliko Dangote, for his substantial contributions to the Nigerian capital market and private sector development.

He said the former Chairman of Dangote Cement, who is also his mentor, has clearly shown that wealth can be created but also transferred to the public through the capital market.

Temi Popoola, group managing director/ chief executive of the Nigerian Exchange Group, also lauded the new Management and Board of Dangote Cement, noting that with Mr. Ikazoboh as the Chairman, the shareholders will surely be happy.

It would be recalled that the shareholders of the company, in its last Annual General Meeting (AGM) for the year 2024, were full of praise for the Board, Management, and staff of the company after approving a dividend payout of N502.6 billion, which translated to N30 kobo per share.

The company, in the same vein, also significantly increased its social investments by 469.8 per cent to N3.2 billion. The corporate social responsibility (CSR) activities were in education, healthcare, agriculture, infrastructure, and economic empowerment.

Faruk Umar, president of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), said the shareholders were pleased with Aliko Dangote and his team.

He said that for the company to still pay a robust dividend despite the obvious economic challenges, which also affected their operations, shows the doggedness and fighting entrepreneurial spirit of the management of the company.

According to him:

“We are happy with this result. The year 2024 was very challenging due to the fluctuations in the foreign exchange market and the company’s expansion programme. But despite all these challenges, the company was still able to pay us a very good dividend and even gave us hope of better returns on our investments in the years to come. This is very commendable, and it is only a company like Dangote Cement that can achieve this laudable feat.”

Bisi Bakare, chairperson of the Pragmatic Shareholders Association of Nigeria, also commended the company’s consistent dividend payment, noting that the company is moving in the best way of corporate governance.

He stated that:

“As a shareholder and an active investor of this company, I am very happy and pleased with the performance of our company so far. The earnings are not even up to N30 per share, and for the company to still declare N30 per share dividend speaks volumes of the quality of leadership that we are lucky to have in Dangote Cement. It should also be noted that Dangote Cement is the only manufacturing company that paid the highest dividend in the year under review. So, we are happy and very proud to be part of this company.”

The dividend was approved at the group’s 16th Annual General Meeting (AGM), held on June 23, 2025, in Lagos. At a current share price of N440, the dividend represents 6.81% yield, with a total payout of N506.21 billion.

Shareholders also approved an annual remuneration of N20 million for the Chairman and N15 million each for non-executive directors for the year ending December 31, 2025.

Board members, Aliko Dangote, Ernest Ebi, Viswanathan Shakar, Cherie Blair, and Douraid Zaghouani were reappointed following their retirement by rotation.

According to the group’s Q1 financial statement, profit before tax surged by 85.7% to N209.2 billion, while gross profit hit N587.3 billion, largely driven by a revenue increase to N994.6 billion from N817.3 billion Q1 2024.

The group’s total assets stood at N6.4 trillion, while retained earnings grew by N20.7% to N1.2 trillion, up  from N1.02 trillion recorded in the previous financial year.

Addressing shareholders, Aliko Dangote highlighted Nigeria’s emergence as Africa’s largest cement exporter and reaffirmed the company’s priorities.

“This year, Nigeria has become the largest exporter of cement across Africa. We’ve gone from being a major importer to now outpacing every other African country in exports,” he said.

“Our focus is on reducing production and foreign exchange costs, expanding our market share, and driving stronger export performance,” he added.

Investor interest in key stocks such as Dangote Cement, FBNHoldings, Guaranty Trust Holding Company, GTCO, and Fidelity Bank, alongside other advancing equities, contributed to the market’s positive performance.

The market capitalisation increased by N53 billion, or 0.09 per cent rising from N62.257 trillion at the opening to N62.310 trillion at the close.

Similarly, the All-Share Index, ASI, advanced by 0.09 per cent, gaining 87.11 points to close at 102,183.06, compared to 102,095.95 reported on Wednesday.

This performance brought the Year-To-Date, YTD, return to 0.72 per cent.

However, in spite the gains, the market breadth closed negative, with 35 gainers against 26 losers.

On the losers’ chart, Livestock Feeds led by 60k to close at N5.40, Eunisell trailed by N1.73 to close at N15.63 per share.

Neimeth International Pharmaceutical and Regal Insurance lost 7k each to close at N3.12 and 68k per share respectively, while Honeywell Flour shed 94k to close at N9.21 per share.

Conversely, North Nigerian Flour Mill led the gainers table by N4.95 to close at N54.45, Dangote Sugar followed by N3.65 to close at N40.50 per share.

John Holt gained 83k to close at N9.30, The Initiate Plc added 25k to close at N2.80 and Omatek went up by 8k to close at 90k per share.

Trade turnover settled higher relative to the previous session, with the value of transactions up by 76.82 per cent.

A total of 472.16 million shares valued at N16.70 billion were exchanged in 12,336 deals, compared with 435.54 million shares valued at N9.44 billion traded in 12,098 deals, posted in the previous session.

Meanwhile, GTCO led the activity chart in volume and value with 65.05 million shares worth N3.77 billion.

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Findings showed that the prices of cement ranged between N3,300 and N3,500 in Lagos and Ogun States in March 2021 but have jumped to between N6,500 and N7,000 in both states as of last week.

Devakumar Edwin, Dangote Cement’s group executive director in charge of Strategy, Portfolio Development, and Capital Projects,  had in 2021 attributed the high cost of cement in Nigeria to the global rise in demand for cement as a result of the COVID-19 crisis.

He said:

“Nigeria is no exception as a combination of monetary policy changes and low returns from the capital market has resulted in a significant increase in construction activity. To ensure that we meet local demands, we had to suspend exports from our recently inaugurated export terminals, thereby foregoing dollar earnings,”

Recall that in 2022, the Block and Concrete Producers Association, Enugu State chapter, decried the continuous increase in the prices of cement and other materials used for block production.

In 2023, the Cement Producers Association of Nigeria warned that the ongoing plan of the Federal Government to introduce concrete roads will raise the price of cement to N9,000 per bag from the current price of N5,000.

They also called on the current administration, in a statement, to permanently address the perennial cement price hike problem by facilitating larger participation in the cement industry, noting that Nigerians had no business buying cement for more than N5,600 per bag.

The statement read in part, “Our findings from various parts of the country show that cement sells for as high as N6000 per bag in the rainy season.

“Our prediction is that it will sell for over N9,000 per bag in the dry season, especially with the pronouncement of the Honourable Minister of Works on cement technology and the marching order on housing by Mr President if the government does not take proactive steps.

This is as the Nigerian Exchange Group (NGX) achieved a new record of 100,000 marked sustained bargain hunting in Dangote Cement Plc propelled the all-share index (ASI) to rise by three percent.

ASI rose by 2,954.14 points, representing a gain of three percent, to close at 101,571.11 points.

Similarly, the overall market capitalization value gained N1.617 trillion to close at N55.584 trillion.

Year-to-date, the domestic market has returned 35.84 percent surpassing inflationary levels in the country and outperforming other indices in the African, European, and Middle Eastern markets as tracked by Bloomberg.

The total value of stocks traded by investors was N8.04 trillion, a 51 percent drop from the value traded in the previous day.

Analysts have envisioned another positive market breadth today, while sector performance remains mixed.” Investor sentiment, as measured by market breadth, closed positive as 35 stocks gained, while 32 lost.

Wapic Insurance recorded the highest price gain of 10 per cent to close at 88 kobo, per share. BUA Cement followed with a gain of 9.98 percent to close at N179.65, while Japaul Gold & Ventures rose by 9.91 percent to close at N2.55 kobo.

However, University Press appreciated by 9.82 percent to close at N3.69 kobo, while Tripple Gee & Company rose by 9.69 percent to close at N2.83 kobo.

On the other hand, NEM Insurance led the losers’ chart by 10 percent to close at N7.20 kobo.

Cadbury Nigeria followed with a decline of 9.96 percent to close at N23.50 kobo, while The Initiates Plc (TIP) declined by 9.92 percent to close at N2.27 kobo.

Also on the NGX, May & Baker Nigeria shed 9.89 percent to close at N6.65 kobo, while McNichols lost 9.88 percent to close at N1.46 kobo.

However, the total volume of trade decreased by 34.65 per cent to 488.491 million units, valued at N8.037 billion, and exchanged in 12,080 deals.

Transactions in the shares of Transnational Corporation (Transcorp) topped the activity chart with 95.109 million shares valued at N1.588 billion.

Universal Insurance followed with 45.629 million shares worth N18.601 million, while Unity Bank traded 27.343 million shares valued at N74.12 million.

Jaiz Bank traded 26.962 million shares valued at N76.917 million, while Japaul Gold & Ventures transacted 25.324 million shares worth N64.312 million, according to the NGX.

This is as billionaire businessman, Femi Otedola, who called the founder of the Dangote Group, Aliko Dangote, his “bestie”, had made a significant acquisition of Dangote Cement shares.

The firm closed trading with a N10.098tn market cap after gaining N917bn, following a 9.99 per cent rise in its stock.

The company closed in 2023 with a market cap worth N5.451tn.

Its share at the close of trading on Monday stood at N590.60 per unit.

This month, it displaced Airtel Africa as the most capitalised stock on the local bourse.

In terms of capital gains, Dangote Cement investors have seen 85.25 per cent appreciation in their investment.

Otedola, explaining his reasoning for buying stakes in Dangote Cement in a statement issued on Monday, said the potential of Dangote Cement to earn foreign exchange as well as its compliance with Environmental, Social, and Governance principles made it an ideal investment for him.

“Dangote Cement’s unique position with two export terminals offers a substantial opportunity to earn foreign exchange, crucial for Nigeria’s economy. This, along with the company’s pan-African presence, makes it an ideal investment choice.

“Dangote Cement’s strong corporate governance and impressive ESG compliance track record make it an ideal investment choice. It represents the type of company that not only contributes to Nigeria’s industrial strength but also aligns with my vision for ethical and sustainable business practices,” Otedola stated.

Otedola added that Dangote Cement’s track record of dividend payments and its commitment to sustainable business were major attractions. [Details]

The news of the investment by Femi Otedola has spurred heightened interest among investors, resulting in a surge in both Dangote Cement and its competitor, BUA Cement.

Following the announcement of Femi Otedola’s foray into Dangote Cement, the company witnessed a surge in share prices, experiencing a significant increase of 9.98% on January 19, 2024. The closing price stood at N538.8, pointing to the impact of Otedola’s strategic investment.

Market data indicates a strong demand for Dangote shares coupled with minimal selling activity, highlighting the bullish sentiment surrounding the stock. This surge is part of a broader positive trend, as Dangote Cement had already gained 8.27% on January 18. The year-to-date return for the company now stands at 68.9%, making it the top-performing SWOOT stock on the NGX.

Furthermore, the market capitalization of Dangote Cement has seen a commendable increase, climbing to N9.18 trillion. This represents a capital gain of N3.215 trillion in just one week, solidifying Dangote Cement’s position as a standout performer in the market.

Interestingly, the move by Femi Otedola appears to have had a ripple effect on Dangote Cement’s competitor, BUA Cement. BUA Cement’s shares experienced a 10% gain on January 19, closing at N148.5. This positive momentum adds to a weekly gain of 45.8% and a year-to-date appreciation of 53.1%, making BUA Cement one of the best-performing stocks on the NGX.

The increased market cap for BUA Cement is noteworthy, rising from N3.45 trillion to N5.03 trillion in the span of a week. This surge signifies a capital gain of N1.58 trillion, further establishing BUA Cement as a strong contender in the market.

The promo is expected to offer life-changing prizes, which will have immense economic value to loyal consumers.

The company said every single bag of Dangote Cement to be produced daily through the promo period would contain scratch cards for various gifts to be won by consumers.

The Dangote Promo Season 3, which runs from July 5 to October 31, 2022, will provide customers the chance to win prizes like television sets, refrigerators, rechargeable fans, 2KVA generators, and millions of airtime gifts from major networks in Nigeria.

At launch, Michel Puchercos, Group Managing Director, Dangote Cement Plc, said the Bag of Goodies Promo series was designed to continuously reward loyal consumers who have stayed faithful and remained the backbone of the cement business.

He said these consumers have contributed in no small measure to making the Dangote range of cement products the first choice for construction purposes across the country.

Puchercos explained, “We are offering life-changing prizes, which have immense economic values as they can be used to kick-start small-scale businesses.

These prizes are targeted to help many families recover from the impact of the COVID-19 global pandemic, which adversely affected their sources of livelihoods.”

How to Win

• Buy any “bag of Goodies” 3- Dangote Cement -42.5R, 42.5N, Falcon or BlocMaster
• Pick out the scratch card inside the bag

Instant Win

• Scratch and stand a chance of winning instant prizes as revealed on the card
• Instant win prize items to include
  Airtime (N100, N200, N500 worth), Dangote food packs, Refrigerators, TV sets, Motorcycles, Tricycles
• Keep your scratch card for Spell and Win Star Prize

This figure shows that the company spent an additional N50 billion on electricity in 2021 compared to what was spent in 2021. 

Nigeria presently has grid sourced power generation capacity of 7,500MW, but only an average of 3,600MW gets to the end-users. 

According to Guillaume Moyen, Company’s Group Financial Officer, at the firm’s 13th Annual General Meeting recently, the increase was due to the volume of growth and inflationary pressure on its costs.

According to Moyen, the cost of manufacturing went up by 25.8 percent to N551.0 billion from N437.9 billion in 2020, while fuel and power gulped about N196.6 billion from N146.342 billion and materials consumed about 30 percent, representing N175 billion from N134.91 billion.

The National Bureau of Statistics (NBS) says Nigeria’s inflation rate increased to 17.71 percent on a year-on-year basis in May.

Michel Puchercos, Managing Director, Dangote Group, said the biggest challenge the company had in 2021 was the increase in inflation across cost lines. 

Puchercos said the company experienced a significant spike in its energy costs and spare parts, saying some of the cost pressures were due to the fall of the naira while others were due to macroeconomic pressures caused by inflation. 

The company’s GMD said the firm experienced supply challenges in sea and freight costs and also the cost of clinker like in Cameroon and cement imports from Ghana.