Dangote Cement posts $233 million profit in Q1 2026

Nigerian billionaire businessman Aliko Dangote saw earnings at Dangote Cement Plc climb sharply in the first quarter of 2026, as stronger sales and tighter cost control lifted profit to $233 million, reinforcing the company’s position at the top of Africa’s cement industry.

The Lagos-based cement maker reported profit of N321.1 billion ($233.8 million) for the three months ended March 31, up from N209.25 billion ($152.3 million) a year earlier. The increase was supported by steady demand across its core markets and a notable drop in finance costs, which fell to N98.2 billion ($71.4 million) from N129.4 billion ($94.2 million).

Femi Otedola, Aliko Dangote, and President Bola Tinubu at a high-level engagement involving Nigerian business and economic leadership.

Group revenue reaches N1.2 trillion ($872 million)

Revenue growth also played a central role in the stronger showing. Group revenue rose to N1.2 trillion ($872.1 million) in the first quarter, compared with N994.7 billion ($722.9 million) a year earlier. The gain reflects a mix of higher cement prices and increased volumes, with total sales rising to 7.47 million tonnes from 6.57 million tonnes. The figures point to resilient demand despite broader economic pressures in key markets.

Performance in Nigeria, its largest market, remained the main driver of earnings. Revenue from domestic operations increased to N861.8 billion ($626.4 million), up from N696 billion ($505.9 million) a year earlier, while profit climbed to N278.3 billion ($202.3 million). At the same time, the group’s pan-African business showed signs of improvement. Revenue from those operations rose to N369.9 billion ($269.1 million), and losses narrowed sharply to N10 billion ($7.3 million) from N110 billion ($80 million), suggesting better cost discipline and improved pricing.

Dangote Cement factory, owned by Aliko Dangote, Africa’s richest man.

Retained earnings reach $1.32 billion, assets hold above $6.3 billion

The company’s scale continues to support its market position. With installed capacity of 55 million tonnes per year across Africa, including 35.25 million tonnes in Nigeria, Dangote Cement remains the continent’s largest producer. Its flagship Obajana plant in Kogi State, with a capacity of 16.25 million tonnes, and the Ibese plant in Ogun State, with 12 million tonnes, continue to anchor output and supply both domestic and export markets.

The first-quarter results show steady performance, supported by firm pricing, higher volumes, and improving operations outside and within Nigeria. Stronger earnings flowed through to the balance sheet. Cash holdings increased to N504.8 billion ($367.4 million) at the end of March from N397.5 billion ($289.2 million) at the close of 2025. Total equity rose to N2.86 trillion ($2.1 billion), while retained earnings climbed to N1.82 trillion ($1.32 billion), reflecting the period’s profit growth. Total assets held broadly steady at just over N6 trillion ($4.38 billion).