Victor Ezeja
Dangote Cement Plc, a multinational cement manufacturer, has recorded a 62.2 per cent revenue growth as it hit ₦3.580 billion in 2024.
The company’s profit after tax (PAT) grew by 10.5 per cent year-on-year, reaching ₦503.2 billion.
Join our WhatsApp ChannelThis was disclosed in the company’s Full Year 2024 audited financial statement released on 1st March 2025.
According to Dangote Cement Plc Chief Executive Officer, Arvind Pathak, the revenue growth outcome was “driven by a combination of volume growth and price adjustments to reflect inflationary trend.”
Pathak stated that the company concluded year 2024 with great momentum, driven by its focus on operational efficiency and quality.
“Our Group volumes grew by 1.6% year-on-year, reaching 27.7Mt, driven by a strong recovery in Nigeria, where we improved efficiency and boosted sales growth by 7.9%,” Pathak stated.
He said that despite macroeconomic challenges, both globally and domestically, the company remained committed to innovation and value creation, delivering strong returns for stakeholders.
The Company’s board proposed a dividend of ₦30.00 per share for the 2024 financial year.
READ ALSO: Dangote Cement’s $280m Investment In CNG Boosts Nigeria’s Energy Transition Efforts
The company’s Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) also grew by 56.0 per cent to N1,388.2 billion, with a 38.6 per cent margin.
The Dangote Cement CEO further stated that the company’s major milestone in 2024 was the launch of the Document Management System (DMS), which, according to him, “enables customers to independently manage sales transactions and track deliveries, remotely.”
He disclosed that over 80 per cent of its customers actively use the platform, adding that the company aims to increase adoption to 90 per cent.
Nigeria’s Clinker and Cement Exports Increase by 69%
With its strong export-to-import strategy, Dangote Cement achieved a record 31 clinker shipments from Nigeria to Ghana and Cameroon, driving a 69.1 per cent increase in Nigerian exports.
This, Pathak said, furthers strengthens their commitment to the quest for Africa’s cement self-sufficiency.
In the area of sustainability, he reported that the company also made significant achievements, particularly in alternative fuel investments. This resulted in the company’s Thermal Substitution Rate (TSR) improving to 10 per cent, with 11 alternative feed systems installed across its plants, thereby enhancing greater flexibility in energy sourcing.
The statement further stated that in recognition of Dangote Cement’s sustainability efforts, the Carbon Disclosure Project (CDP) upgraded its rating to B across both climate and water categories.
Going forward, it said: “we remain focused on strengthening our market position, enhancing productivity, and driving economic growth across our operating regions.”
It also announced that the company is set to commission its 3Mta grinding plant in Cote d’Ivoire this year, further expanding its footprints in the African cement market which has high-growth potential.
Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.
