Find out more as Rising cement prices help manufacturers post strong H1 2026 earnings

Nigeria’s three largest listed cement makers all reported higher revenue and profit in the first half of 2026HBM Nigeria recorded the fastest earnings growth, with net profit jumping 57% on the back of volume and efficiency gainsAll three companies are expanding production capacity simultaneously, signalling confidence in Nigeria’s construction outlook

Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Nigeria’s three largest listed cement manufacturers—Dangote Cement, BUA Cement, and HBM Nigeria—reported robust first-half 2026 earnings, driven by higher sales volumes, improved operational efficiency, and a more stable foreign exchange environment.

The sharp increase in cement prices, from between N9,300 and N9,700 per bag in January to an average of N10,500 to N13,000, also played a significant role in boosting the companies’ revenues and profitability.

Dangote Cement grew half-year profit to N640.2 billion Photo: Bloomberg
Source: Getty Images

Dangote Cement Leads