Prime Business AfricaAfter the curtains draw down on the second quarter (Q2) of 2025, analysis by Prime Business Africa showed that the stock market valuation of Dangote Cement dropped, while that of its rivals, BUA Cement and Lafarge Africa increased.
The analysis showed that the three companies, which are the only listed cement companies on the Nigerian Exchange Limited (NGX), have a combined market valuation of N12,10 trillion at the end of the second quarter this year.
Join our WhatsApp ChannelPBA gathered that their combined market valuation dropped by N43.55 billion or 0.35 percent within April and June, from N12.05 trillion.
Most Valuable Cement Companies In Nigeria
Dangote Cement
At the end of June, Dangote Cement retained its position as the cement company with the highest market valuation, which was N7.42 billion, according to Prime Business Africa’s analysis.
This is despite recording a N674.94 billion decline in its market valuation, which dropped from the N8.09 trillion recorded at the start of the second quarter.
The decline was driven by a 8.33 percent or N40 drop in Dangote Cement’s share price, which fell to N440 per share as of June 30, compared to the N480 the share was sold on April 2.
BUA Cement
BUA Cement also retained its position as the second most valuable cement company in Nigeria after ending the second quarter with N30.23 trillion, which was made possible by a 13.97 percent growth in the company’s share price.
During the period under review, BUA Cement’s share price had increased by N11.7 kobo, from N83.70 kobo to N95.40 kobo, resulting in the company’s market capitalisation rising by N396.21 billion.
This led to BUA Cement’s market valuation rising from the N2.83 trillion recorded at the beginning of the second quarter, and enabled BUA Cement to close the gap between it and Dangote Cement, as well as widen the gap between the firm and Lafarge.
Lafarge Africa
Lafarge Africa occupied the third spot on the list of cement companies with the highest market valuation, after ending the period under review with N1.40 trillion equity capitalisation, according to PBA’s analysis.
The company remained behind Dangote Cement and BUA Cement despite recording a N235.17 billion increase in its market valuation, which was driven by a bullish run or a 20.11 percent appreciation in its share price.
According to data obtained, a share of Lafarge Africa became expensive by N14.6 kobo, as investors seeing the company’s shares as a profitable investment drove the price to N87.20 kobo per share on June 30, compared to the N72.60 kobo per share recorded on April 2.
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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.
