The company said net profit for 2025 surged to N1 trillion, equivalent to about $730 million at an exchange rate of N1,369.06 to $1, more than double the previous year’s performance. Revenue rose 20.3 per cent to N4.3 trillion, or roughly $3.14 billion, driven largely by stronger pricing and resilient domestic demand.
The record earnings come despite a slight dip in sales volumes, underscoring the group’s shift towards margin protection, cost efficiency and export growth as it positions Nigeria as a regional production hub.
Expansion drive across Africa
Chief executive Arvind Pathak said the company would continue to commission new capacity and advance projects across several African markets.
“We are confident in our growth trajectory and our ability to capitalise on Africa’s robust cement demand fundamentals,” Mr Pathak said in an earnings release filed with the Nigerian Exchange.
“We will continue commissioning new capacity, including the transformational 6 metric tonne per annum (Mta) Itori plant, while advancing expansion projects in Ethiopia, Cameroon, South Africa, Zambia, and Senegal.”
For a continent with one of the world’s youngest populations and a persistent infrastructure deficit, cement demand remains structurally strong. Dangote Cement is seeking to consolidate its leadership as governments ramp up housing and transport projects.
The company also reported an 18.6 per cent rise in cement and clinker exports from Nigeria, dispatching 34 shiploads of clinker to Cameroon and Ghana during the year.
“This performance reinforces our vision of positioning Nigeria as a low-cost regional hub and replacing expensive intercontinental imports with competitive African production,” Mr Pathak said.
“Our export terminals at Apapa and Onne continue to prove their strategic value, and we remain firmly on track to achieve our ambitious target of 10 million tonnes of combined,” he added.
Profit surge despite lower volumes
Group sales volumes slipped marginally by 0.9 per cent to 27.5 million tonnes from 27.7 million tonnes a year earlier. In Nigeria, volumes were broadly flat, while volumes in other African markets fell about 2 per cent.
Yet revenue from Nigeria jumped 34.8 per cent to N2.956 trillion (about $2.16 billion), supported in part by an estimated 35 per cent year-on-year rise in cement prices in the local market. Pan-African revenue declined 1.7 per cent to N1.455 trillion (around $1.06 billion).
Production and bagging rose 5.8 per cent to 55 million tonnes, suggesting the company is operating at roughly half of its installed capacity ,leaving room for future output growth.
Profit before tax climbed 109.2 per cent to N1.5 trillion (about $1.10 billion), while post-tax profit reached N1 trillion. Earnings per share rose 101.3 per cent to N59.86 (around $0.044 per share). Return on equity strengthened to 38.7 per cent from 23.1 per cent a year earlier. EBITDA margin stood at 46 per cent.
A sharp drop in finance costs helped boost the bottom line. Finance expenses fell by half to N351.5 billion (approximately $257 million), as the company recorded no foreign exchange losses, compared with an FX loss of N249.3 billion in the prior year.
Betting on CNG and cost discipline
Cost efficiency was central to the improved performance. In 2025, Dangote Cement accelerated its transition to compressed natural gas (CNG), acquiring more than 3,000 CNG-powered trucks, described as the largest such fleet deployment in Africa’s cement industry.
According to the chief executive, the CNG trucks delivered over 60 per cent fuel cost savings compared with diesel.
“We are committed to converting our entire logistics fleet to CNG by 2027, a transformation that will further strengthen margins, enhance operational flexibility, and significantly reduce our carbon footprint,” Mr Pathak said.
While administrative and selling expenses edged higher, production cost of sales declined, reinforcing the company’s margin discipline strategy.
Reflecting the stronger earnings, the board proposed a final dividend of N45 per share, about $0.033, representing a 50 per cent increase on the previous year.
“A final dividend of N45 per share, subject to the appropriate withholding tax and approval, will be paid to shareholders whose names appear in the Register of Members at the close of business on Wednesday, June 17, 2026.
“By Thursday, July 2, 2026, dividends will be paid electronically to shareholders whose names appear in the Register of Members as of Wednesday, June 17, 2026,” the company said in its regulatory disclosure.
The proposed payout amounts to roughly N759.3 billion (about $555 million), underscoring the scale of the earnings rebound.
As Africa’s cement demand continues to track urbanisation and infrastructure investment, Dangote Cement is betting that scale, pricing power and lower energy costs will allow it to expand beyond Nigeria while defending profitability at home.
