Following the scantily lamentations by Nigerians on the sporadically rising cement prices in the country, with widespread calls for government’s intervention, the Chairman of Dangote Cement Plc, Mr. Emmanuel Ikazoboh, has attributed high energy cost, which constitutes about 60 per cent of cement production and purchasing of gas in Dollars as the reasons behind the frequent changes in cement prices in the country.
Specifically, findings showed that the price of a 50kg bag of cement in Nigeria today ranges between ₦9,500 and ₦13,000, depending on the brand, location, and retailer.
Dangote cement typically retails between ₦10,000 and ₦12,500, while BUA and Lafarge products range between ₦8,500 and ₦10,500.
Prices vary notably depending on proximity to manufacturing plants and transportation costs, with locations further from the factories seeing higher end-user costs.
Ikazoboh made this known during the Dangote Cement Plc 17th Annual General Meeting (AGM) in Lagos yesterday.
He also pinpointed that the cement price increments could also have to do with the distributors selling the products too because of costs of logistics and warehousing.
Ikazoboh said: “For the cement price. One thing you must understand is that to produce a bag of cement, we need energy which constitute 60 per cent for the cost of producing cement and to generate energy, we need either gas coal or diesel.
“Gas is sold to us in USD and they are always increasing it and we know the exchange rate between the Dollar and the Naira. As a result, the price of generating energy is always increasing.
“So this is the best we can do as we try to make sure that we cooperate with you – the shareholders and government and the regulators to make sure that we sell at the best minimum price.
“The difference between our price and what the distributors now sells is a different thing. But from the factory we sell as the best possible price.”
Meanwhile, shareholders of Dangote Cement Plc have lauded the board, management and staff of the reputable company for the 2025 excellent performance as it’s revenue crossed a trillion naira.
One of the key shareholders, Mrs Bakare Adebisi Oluwayemisi stated, “I want to start my comment by commending the Board, Management and Staff of our company- Dangote Cement Plc, the Africa’s leading cement manufacturer for an exceptional performance in the year 2025 despite macroeconomic challenges.
“And this profit was driven by high volume of sales of cement leveraging on increased in product prices and high export proceeds. This is highly commendable, Mr. Chairman.
“I want to commend our financial performance, especially our sustained growth in our revenue by 20.3 per cent to N4.30 trillion.
“Why our PAT grew by 101 per cent to N1.01 trillion as against N503.2 billion in 2024.
“This the first time our bottom line revenue has crossed the ‘trillion naira mark.’ “So let us appreciate this board and management for this excellent performance.”
Another shareholder, Dr. Farouk Umar applauded the 2025 operating performance and also commended the impact of Alhaji Aliko Dangote in driving the company to profitability.
Umar said: “Mr Chairman I want to commend you on some areas you have excelled and I want you to assure us that we would improved.
“I thank you for the historic profitability of one trillion naira and Mr Chairman what you’ve done between 2024 and 2025, you have reduced our borrowing by 50 per cent which is now improved profitability. We are no longer paying money to the commercial banks.
He added: “Mr Chairman I also want to commend you on the logistics and cost efficiency.
“Mr Chairman we are now doing more expansion We’re now in Cote D’ Ivoire, the company has been expanding into African countries.
“And again, this is making us to become a global company that will always bring profitability to our company.”
However, the shareholders unanimously approved Dangote Cement Plc’s total dividends per share of N45.00. Which is a 50 per cent increase.
