Dangote Cement Plc

Dangote Cement is the foundation — literally — of Lagos's construction industry. Every house, office tower, bridge, and road being built in Lagos uses Dangote's 3X or Falcon brands. With an 83% gross margin — the highest of any cement company in the world — Dangote effectively sets the price of construction in Nigeria. For Lagosians, this stock is a proxy for the city's growth. When the Lekki-Epe Expressway expansion accelerates, Dangote's revenue rises. Every ₦100 increase in a bag of cement adds an estimated ₦15,000-₦25,000 to the cost of building a standard room. At ₦1,040 per share with a ₦16.4 trillion market cap (10.5% of the entire NGX), Dangote Cement is effectively Nigeria's index — when DANGCEM moves, the ASI moves. Retail investors who own Dangote shares are betting on Africa's urbanization, with Lagos as the epicenter.

Dangote Cement Plc is Africa's largest cement producer and one of the most profitable industrial companies on the continent. Founded by Aliko Dangote in 1992, the company transitioned from cement trading to manufacturing with the Obajana plant commissioning in 2007 — at the time, the largest cement plant in Sub-Saharan Africa with 13.25 Mtpa capacity. The company operates four cement plants in Nigeria (Obajana, Ibese, Gboko, Okpella) with combined domestic capacity of 35.25 Mtpa. Pan-African operations span 10 countries including Ethiopia, Tanzania, South Africa, Cameroon, Congo, Ghana, Senegal, Sierra Leone, and Zambia, bringing total group capacity to 51.6 Mtpa. Dangote Cement posted ₦4.31 trillion revenue and ₦1.006 trillion profit after tax in 2025 — a 101% year-on-year profit increase. The company listed on NGX in October 2010 and has remained the most valuable industrial stock since. As of April 2026, the market cap of ₦16.4 trillion represents about 10.5% of the entire NGX equity market. Dangote Cement's Lagos connection runs deep. The Ibese plant in Ogun State (adjacent to Lagos) serves as the primary supplier to Lagos construction. The headquarters at Union Marble House on Alfred Rewane Road, Ikoyi, is itself a Lagos landmark. Aliko Dangote — Africa's richest person — has interests spanning cement, sugar, salt, flour, oil refining, and fertilizers.