Dangote Cement Plc reported a 23.2 per cent increase in revenue to approximately ₦3.16 trillion for the nine months of the year despite recording a steep decline in volume of sales.
The cement giant reported this in its unaudited results for the nine months ended September 30, 2025.
A review of the results shows that the company’s total volume of sales declined to 20.24 million tonnes from 20.67 million tonnes in September 2024, representing a slight decrease of 2.1 per cent.
The decline in sales volume resulted in higher gains as it sold one tonne of cement at approximately ₦155,875.14, compared to ₦123,854.75 it sold a tonne in the corresponding period in 2024.
The gains were bolstered by a moderate rise in its total manufacturing costs.
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Its cost of manufacturing for the review period rose slightly by 4.0 per cent to ₦1.29 trillion from ₦1.24 trillion, despite the double-digit growth in inflation.
In an earlier report, Pinnacle Daily had analysed that with a bag of cement selling for about N10,000, blamed on the high cost of production, consumers are left to bear the ultimate burden.
In the period under review, the inflation rate has tempered, and the exchange rate has relatively stabilised.
In its note, Dangote Cement acknowledged that Nigeria’s economic landscape in the nine months of this year recorded steady progress amid lingering challenges.
Foreign exchange unification, subsidy removal, and fiscal consolidation bolstered investor confidence.
The naira has strengthened on improved liquidity and renewed portfolio inflows with external reserves reaching $42.4 billion, the highest in six years.
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Pinnacle Daily can report that headline inflation, which has risen to over 34 per cent as of December 2024, gradually eased to 18.02 per cent in September, prompting the CBN’s first rate cut to 27 per cent since 2020.
The recovery remains uneven, constrained by structural bottlenecks and external headwinds, Dangote Cement stated.
It said inflation, though easing, remains above the Central Bank’s target, while elevated borrowing costs continue to weigh on investment, consumer spending, and overall business activity.
As the above parameters appear not to have weighed heavily on Dangote Cement’s costs of operations, its results significantly contributed to the company’s revenue as it grew by 23.2 per cent to ₦3.16 trillion in September 2025 from ₦2.56 trillion in the same period of 2024.
Dangote Cement noted that its sales volumes were down marginally by 2.1 per cent to 20.2 million tonnes, it said this was owing to a decline in sales from key markets in its operating regions, while sales volume from Nigerian operations was up slightly at 13.2 million tonnes in the period.
Commenting on the results, its Chief Executive Officer (CEO), Arvind Pathak, said, “The commissioning of our 3Mta Côte d’Ivoire grinding plant in October marks another major step in Dangote Cement’s growth journey, increasing our total installed capacity
to 55Mta across Africa.
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“This milestone reinforces our commitment to regional self-reliance and strengthens our position as the continent’s leading cement producer.”
Pathak noted that the company’s profit after tax surged by 166.3 per cent to ₦743.3 billion, surpassing its full-year 2024 performance by more than 47 per cent.
“These strong results reflect the success of our efficiency programmes and disciplined cost management, particularly in Nigeria, where a more favourable energy mix significantly reduced cash costs.
“Although Group volumes declined marginally to 20.3Mt due to softer demand in a few markets, exports from Nigeria grew by 23.0 per cent, supported by 27 successful clinker shipments to Ghana and Cameroon.
“We continue to advance our sustainability agenda with the phased delivery of 1,600 CNG-powered trucks that will cut logistics costs and carbon emissions. The construction of our Itori Integrated Plant is progressing well and will soon enhance domestic capacity and open new export opportunities,” Pathak said.
The cement giant’s CEO hinted that ahead of the final quarter of the year, the company remains focused on sustaining earnings momentum, deepening efficiency, and executing its long-term growth strategy.
“With a clear strategic direction, disciplined execution, and a strong
balance sheet, Dangote Cement is well-positioned to sustain its leadership and deliver superior value to all stakeholders,” Pathak added.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
