Amid Housing, Infrastructure Deficit, Cement Manufacturers Amassed N6.55trn Revenue in 2025

Kayode Tokede

As Nigeria and Sub-Saharan African countries continue to face housing and infrastructural deficits,, the  three major cement manufacturing companies in Nigeria amassed a whooping N6.55 trillion revenue in the 2025 financial year.

This represents about 27 per cent increase over  N5.15 trillion declared in the corresponding period of 2024.

The three companies are: Dangote Cement Plc, Lafarge Africa Plc and BUA Cement Plc.

Analysis of their audited result and accounts for the full year ended December 2025 showed that they grew revenue significantly, a development that impacted positively on profit and dividend payout to shareholders.

Africa’s housing deficit is staggering and continues to grow due to rapid urbanisation, population growth, and weak housing finance systems. The continent is faced with a shortfall of at least 51 million housing units and by  2030, this deficit is projected to reach 130 million housing units, according to reports.

These cement companies benefited from the federal government spending on road expansions, among other infrastructure across the country last  year.

In the period under review, Dangote Cement, followed by BUA Cement generated the highest revenue.

Dangote Cement reported N4.31trillion revenue, about 20.28 per cent increase  over M3.58 trillion reported in 2024, while   BUA Cement announced N1.18 trillion revenue in 2025, up by 35 per cent from N876.5 billion reported in 2024.

For Lafarge Africa, it reported N1.07 trillion revenue, a growth of 53.04 per cent from N696.77 billion in 2024.

The growth in  revenue is on the backdrop of expansion  and hike in cement products, most especially in Nigeria.

World Cement in its report titled,  “Cement 2025 – Uneven Recovery,” noted that cement   demand in Africa was expected to increase 2 – 3 per cent in both 2024 and 2025.

The report stated, “Although inflation is elevated in some markets, interest rates are expected to decline and lead to higher housing demand. Strong growth is forecast in Algeria, driven by robust government spending. A recovery is predicted in Egypt, with real estate making a comeback despite a tough economic backdrop.

“After years of stagnation, South Africa is poised for a solid economic rebound. The perennial problem of load-shedding has been fixed and the new coalition has begun to turn around the economy. Kenya continues to face headwinds, although lower interest rates are expected to pave the way for a stabilisation. Nigerian demand is expected to slow in 2025 despite interest rate cuts.”

In the period under  review, the  three companies declared a profit before tax of N2.41 trillion,  about 145 per cent increase over N984.43billion reported in 2024.

The breakdown revealed that Dangote Cement leads that chart with N1.5 trillion  profit before  tax in 2025, representing an increase of 109 per cent from N732.5 billion in 2024.

As  BUA Cement posted N465.3 billion profit before tax in 2025, about 367 per cent increase over N99.63 billion in 2024, Lafarge Africa announced N411.32 billion profit before tax in 2025, about 170 per cent growth when compared to N152.26 billion reported in 2024.

The Chief Executive Officer, Dangote Cement, Arvind Pathak in a statement  said the key highlight of 2025 was the successful commissioning of the 3 million tonnes  grinding plant in Côte d’Ivoire during Q3.

He stated,  “We are pleased with the ramp-up progress as the plant  gradually scales toward full capacity utilisation. This strategic asset strengthens our West African footprint and positions us to serve growing demand across the region while benefiting from our integrated supply chain.

“Our export strategy delivered strong results in 2025, with cement and clinker exports increasing 18.6per cent as we executed 34 clinker shipments to Ghana and Cameroon. This  performance reinforces our vision of positioning Nigeria as a low-cost regional hub and replacing expensive intercontinental imports with competitive African production. “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 exports by 2030.

“Looking ahead, we are confident in our growth trajectory and our ability to capitalise on Africa’s robust cement demand fundamentals. We will continue commissioning new capacity, including the transformational 6Mta Itori plant, while advancing expansion projects in Ethiopia, Cameroon, South Africa, Zambia and Senegal.

“Our focus remains on operational excellence, margin expansion through cost efficiency, and scaling our export business. With improving macroeconomic conditions across our key markets, the structural tailwinds from the African Continental Free Trade Area, and our unmatched competitive positioning, Dangote Cement is poised to deliver another year of strong performance and sustained value creation for our stakeholders.”

On his part, Managing Director/ CEO, BUA Cement, Mr. Yusuf Binji noted that the company’s current key projects include Ososo Line-1 and the Sokoto regasification plant.

“On completion, our installed capacity will reach 20mmtpa, positioning us to meet growing local and regional demand,” he added.

For Lafarge Africa, the management said it is looking to expand its cement line across its Ashakacem plant in Gombe and Sagamu plant in Ogun State in a move expected to strengthen Nigeria’s infrastructural growth.

“The plan will push the Ashakacem and Sagamu plants’ total capacity to 2 million tonnes and 3.5 million tonnes per annum, respectively, the company said in a filing with the Nigerian Exchange Limited.

“These investments reflect the company’s strategic focus on supporting Nigeria’s infrastructural growth, improving product availability, and delivering long-term value to shareholders,” it said.

Lafarge Africa is one of Nigeria’s largest cement companies, with four plants that have a combined output of 10.5 million tonnes per year. Key manufacturing sites are located in Ewekoro and Sagamu (Ogun State), Mfamosing (Cross River State), and Ashaka (Gombe State), with additional ready-mix concrete operations in Lagos, Abuja, and Port Harcourt.

In 2025, Swiss building materials manufacturer Holcim sold its stake in Lafarge Africa to Huaxin, a Chinese company, in a deal worth $1 billion.

It held an 84 per cent stake in Lafarge Africa but divested as part of a broader move to focus on core growth markets.