Prime Business Africa
In 2025, Dangote Cement’s market share by revenue dropped after Lafarge Africa and BUA Cement’s revenue grew faster than that of the industry leader.
According to Prime Business Africa’s analysis, the three companies, which are the only cement producers listed on the Nigerian Exchange (NGX), also known as the stock market, generated a combined N6,55 trillion revenue last year.
Join our WhatsApp ChannelThe revenue increased by N1.39 trillion or 27.13 percent to N5.15 trillion, as BUA Cement and Lafarge joined Dangote Cement to become trillion-naira revenue-generating companies.
Analysis showed that at the end of last year, Dangote Cement’s market share dropped to 65.72 percent, from the 69.47 percent held in 2024, while those of BUA Cement and Lafarge Africa jumped from 17 percent to 18 percent, and 13.51 percent to 16.27 percent, respectively, during the same period.
How The Cement Companies Performed
Dangote Cement
Dangote Cement recorded the lowest revenue growth among its industry peers, as turnover rose by 20.28 percent, from N3.58 trillion earned between January and December 2024 to N4.30 trillion during the same period in 2025.
- The industry leader had expended N1.63 trillion on production costs to make its products available in the market in 2025, compared to the N1.64 trillion spent the previous year, representing a 0.68 percent decline.
- Also, selling and distribution expenses gulped N682.76 billion within 12 months of 2025, up by 10.36 percent compared to the N618.66 billion sustained in 2024.
- During the period under review, Dangote Cement achieved a N1.53 trillion pretax profit, surpassing the N732.53 billion profit before tax (PBT) recorded in 2024, indicating a 109.22 percent growth.
BUA Cement
Between the first quarter (Q1) and the fourth quarter (Q4) of 2025, BUA Cement’s revenue reached N1.17 trillion, rising by 34.56 percent when compared to the N876.46 billion generated during the same period in 2024.
- BUA Cement recorded the second-highest turnover growth last year after spending N575.26 billion on the cost of production, which gulped N576.20 billion the year before, reflecting a 0.16 percent decline.
- While the company managed to reduce production cost, BUA Cement saw distribution and selling expenses rise by 48.41 percent year-on-year, from N42.85 billion to N63.60 billion.
- Regardless, BUA Cement was able to pull off a threefold growth in its profit before tax, as it surged to N465.27 billion last year, from N99.63 billion in 2024, reflecting a 367 percent increase in pretax profit.
Lafarge Africa
With a 53.03 percent increase in its revenue last year, Lafarge Africa recorded the highest topline growth after achieving a N1.06 trillion turnover in 2025, surpassing the N696.75 billion generated in 2024.
- During the period under review, production costs gulped N448.93 billion, exceeding the N350.04 billion expended by Lafarge Africa in 2024, representing a 28.25 percent increase.
- Lafarge Africa cound not reduce the cost of production like its industry peers, and also saw an increase in selling and distribution costs, which increased to N163.85 billion in 2025, compared to the N120.42 billion the previous year.
- Despite the 36.06 percent increase in selling and distribution costs, Lafarge Africa experienced a 170.13 percent increase in its pretax profit, which skyrocketed to N411.31 billion in 2025, compared to the N152.26 billion in 2024.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
