Dangote Cement, two other cement makers report N3.2 revenue in H1 2026

Dangote Cement Plc, BUA Cement  Plc and HBM Nigeria Plc generated a combined N3.2 trillion in revenue during the first half of 2026, about 26.5per cent increase from N2.5 trillion recorded during the same period of 2025.

This is coming amid price hikes of cement , rising housing developments, construction activity and infrastructure projects fuelled demand and pushed earnings to record levels.

The results underscore the resilience of Nigeria’s cement sector, with all three listed manufacturers recording double-digit revenue growth, expanding profitability and committing fresh investments to increase production capacity amid sustained demand from Nigeria’s construction industry.

All three companies recorded double-digit revenue growth as they leveraged stronger distribution networks to penetrate new markets.

Dangote Cement reported Nigeria revenue of N1.8 trillion, representing a 25.2per cent increase from a year earlier. Including operations across 21 African countries, total group revenue reached N2.5 trillion, with Nigeria contributing more than 70per cent of total earnings.

BUA Cement posted revenue of N728.9 billion, up 25.6per cent year-on-year. Bulk cement sales surged from N236 million in the first half of 2025 to N40.2 billion in the first half of 2026, reflecting stronger participation in infrastructure and industrial projects.

HBM Nigeria, formerly Lafarge Africa following its May 2026 name change, recorded the fastest revenue growth among the three companies, with revenue rising 31.2per cent to N678.4 billion as the company strengthened operations under its new majority owner, Huaxin Cement.

The performance reflects sustained demand across residential, commercial and infrastructure projects, with producers benefiting from both stronger volumes and improved pricing.

Management across the three companies attributed their record performances to strong demand, operational efficiency and disciplined execution while expressing confidence that infrastructure spending and urbanisation will continue to support cement demand.

Retail cement prices in Nigeria rose steeply through the first half of 2026. A 50kg bag that sold for between N9,300 and N9,700 in January had risen to between N10,500 and N13,000 by mid-year, with dealers in several states quoting prices as high as N13,000 to N15,000 per bag by July.