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By Chukwuma Umeorah
Nigeria’s three largest cement producers; Dangote Cement Plc, BUA Cement Plc and Lafarge Africa Plc collectively paid N765.174 billion in income taxes for the financial year ended December 31, 2025, as their combined revenue reached N6.552 trillion.
The financial results of these companies posted on the Nigerian Exchange Limited (NGX) showed that tax contribution includes N517.739 billion from Dangote, N109.238 billion from BUA, and N138.197 billion from Lafarge, representing a significant inflow to the Nigerian government’s coffers amid ongoing efforts to boost fiscal revenue from the manufacturing sector. Experts note that this collective performance underscores the cement industry’s role in supporting national infrastructure development, even as producers navigated challenges like modest volume declines and shifting energy costs.
The aggregated revenue figure marks a substantial increase from the prior year, driven by factors such as improved plant efficiencies, export growth, and resilient demand in key markets. Dangote led with N4.307 trillion in group revenue, up 20.3 per cent from 2024, followed by BUA at N1.179 trillion (up 34.6 per cent) and Lafarge at N1.066 trillion (up 53 per cent). Together, the companies achieved a combined profit before tax of N2.409 trillion, with profit after tax totaling N1.644 trillion.
Individual performances showed that Dangote Cement Plc, Africa’s largest producer, reported the most substantial figures, with group revenue of N4.307 trillion, a 20.3 per cent increase driven by proactive management and resilient demand. Group EBITDA grew 43.4 per cent to N1.981 trillion, achieving a 46.0 per cent margin. Nigeria-specific EBITDA was N1.764 trillion, up 62.2 per cent at 59.6 per cent margin. Profit after tax doubled to N1.015 trillion, with earnings per share at N59.86, up 101.3 per cent.
Operationally, Dangote’s volumes dipped 0.9 per cent to 27.5 million tonnes, but exports from Nigeria rose 18.6 per cent to 1.4 million tonnes. The company commissioned a 3 million tonnes per annum grinding plant in Côte d’Ivoire during Q3, ramping up toward full utilization. Additional 1,600 CNG trucks were delivered, contributing to strong reductions in cash costs due to a favorable energy mix.
Chief Executive Officer of Dangote Cement, Arvind Pathak, commenting on the result stated, “2025 was a landmark year for Dangote Cement as we delivered exceptional financial performance that underscores the strength of our business model and the effectiveness of our strategic initiatives.
Cost leadership remains the cornerstone of our competitive advantage. In 2025, we accelerated our pioneering transition to Compressed Natural Gas (CNG) technology, acquiring over 3,000 full CNG trucks, the largest fleet deployment in Africa’s cement industry. These vehicles deliver over 60 per cent fuel cost savings compared to diesel, embedding permanent structural advantages into our cost base. We are committed to converting our entire logistics fleet to CNG by 2027, a transformation that will further strengthen margins, enhance operational flexibility, and significantly reduce our carbon footprint.”
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BUA Cement posted revenue from contracts with customers of N1.179 trillion, a 34.6 per cent rise from N876.470 billion in 2024. Profit before tax reached N465.276 billion, up from N99.630 billion, with income tax expense at N109.238 billion, resulting in profit after tax of N356.038 billion, a 381.7 per cent increase.
BUA noted that the profit for the year has been appropriated to retained earnings. The board recommends a dividend of N10.00 per ordinary share of 50 kobo each, up from N2.05 in 2024, subject to shareholder approval at the annual general meeting. Meanwhile, unclaimed dividends totaled N547.872 million as of December 31, 2025.
While Lafarge Africa Plc achieved a milestone with net sales of N1.066 trillion, up 53 per cent from N697 billion in 2024, supported by volume growth, enhanced plant stability, and improved distribution efficiency. Operating profit rose 103 per cent to N392.100 billion, with a margin of 37 per cent compared to 28 per cent the prior year. Profit before tax increased 170 per cent to N411.317 billion, and profit after tax grew 173 per cent to N273.120 billion, yielding earnings per share of N16.96.
Lafarge Africa CEO Lolu Alade-Akinyemi noted, “Full Year 2025 results are a testament of the effectiveness of our 4-point strategy, disciplined execution, and relentless focus on value creation.
Reaching the N1 trillion Net Sales threshold, a 53 per cent year-on-year increase, marks a historic turning point for our Company. With a 103 per cent surge in Operating Profit to N392 billion and margins widening to 37 per cent, we have demonstrated exceptional operating excellence. This 173 per cent growth in Profit After Tax is the direct result of our focus on plant reliability, operational efficiency, and commitment to shareholder value.”
He added, “Looking ahead, with Huaxin’s collaboration and Industrial expertise, we are excited about the year 2026 and the opportunities ahead. We maintain a prudent and agile approach to capital allocation and cost management while positioning the business to capitalize on emerging market opportunities. Our resilience, operational scale, and strategic clarity provide a strong foundation for sustainable growth and enhanced shareholder value.”
Industry operators indicated that infrastructure demand and regional trade opportunities are expected to support performance in 2026, with continued emphasis on cost optimisation and export growth.
