Nigerian billionaire Aliko Dangote gains N8.4 trillion from Dangote Cement shares

Nigerian billionaire Aliko Dangote has seen the market value of his stake in Dangote Cement Plc rise by N8.4 trillion ($6.5 billion) this year, as a sharp rally on the Nigerian Exchange (NGX) pushed the company to the top of the country’s equity market and strengthened his position as Africa’s richest man.

The gains come against a backdrop of renewed buying interest on the NGX, where the All-Share Index briefly crossed the 250,000-point mark this month, underscoring the scale of the equity market’s advance in 2026. Within that surge, Dangote has remained one of the most prominent beneficiaries through his controlling holding in Dangote Cement Plc, the country’s most valuable listed company.

Dangote Cement shares rise 93.7 percent year-to-date

Market data tracked by Shore.Africa shows that Dangote, who is widely regarded as Africa’s richest man with an estimated net worth north of $30 billion, holds an 86.82 percent stake in Dangote Cement, equivalent to 14,792,864,478 ordinary shares. The value of that holding has risen by N8.4 trillion ($6.5 billion) since the beginning of the year, moving from N9.01 trillion ($6.23 billion) on Jan. 1 to N17.45 trillion ($12.7 billion).

The move in his stake has tracked a sharp advance in the company’s share price, which has climbed 93.7 percent so far this year on sustained demand in the local market. Dangote Cement shares have risen from N609 at the start of the year to N1,180, lifting its market capitalization from N10.3 trillion ($7.1 billion) to N19.91 trillion ($14.5 billion). That valuation places the cement producer firmly at the top of the NGX.

Dangote Cement Q1 2026 profit climbs to $233.8 million

Dangote Cement’s scale remains central to its market position. The company has a capacity of 55 million tonnes per year across Africa, with Nigeria contributing 35.25 million tonnes. Its Obajana plant in Kogi State, with capacity of 16.25 million tonnes across five production lines, remains the largest cement plant in Africa. The Ibese plant in Ogun State operates four lines with a combined capacity of 12 million tonnes. Together, these facilities anchor both domestic supply and regional export flows across key African markets.

Financial performance in the first quarter of the year has also supported sentiment around the stock. The company 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 improvement was supported by steady demand across core markets and a decline in finance costs, which fell to N98.2 billion ($71.4 million) from N129.4 billion ($94.2 million).

The quarterly results reflected stable operating conditions, with earnings supported by pricing strength, higher volumes, and improved performance across both Nigerian and international operations. Cash holdings rose to N504.8 billion ($367.4 million) at the end of March 2026. Retained earnings climbed to N1.82 trillion ($1.32 billion), reflecting accumulated profit growth over the period. Total assets were broadly steady at just over N6 trillion ($4.38 billion).

Dangote Cement revives London listing plan

Investor appetite for the stock has also coincided with fresh corporate discussions around a possible partial listing of Dangote Cement in London. People familiar with the matter said the proposal under consideration could involve the sale of about 10 percent of the company to international investors, reviving an earlier plan that was previously set aside.

Dangote has publicly acknowledged that a London listing has been under consideration for some time, noting that recent reforms to UK listing rules have encouraged renewed internal discussions about the move. According to people familiar with the talks, Citigroup, JPMorgan Chase, and Standard Bank are advising on the potential transaction.