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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: BloombergSource: Getty Images
Dangote Cement Leads
