BUA Cement, the second largest cement manufacturer, recorded the highest profit growth among its peers in the first three months ended March 2026, outperforming rivals Lafarge Africa Plc and Dangote Cement Plc.
A BusinessDay analysis of the latest financial statements shows that BUA Cement’s after-tax profit surged by 117.2 percent year-on-year in Q1 — the biggest growth among the top three cement makers. Lafarge Africa followed with 98 percent, and Dangote Cement posted 53 percent.
Despite the slower pace, Dangote Cement, Africa’s largest cement producer, re-entered the trillionaire club with a market capitalisation of N19.9 trillion ($14.6 billion) as of May 5, retained its dominance in absolute earnings, and reported a profit of N321 billion.
BUA Cement, owned by Africa’s second-richest man, Abdulsamad Rabiu, according to the Bloomberg Billionaires Index, ranked second with a profit of N176 billion, while Lafarge Africa recorded N97 billion.
In growth, Lafarge overtook Dangote as
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