July 29, 2025/CSL Research

The cement industry sustained its strong growth momentum in the first half of 2025, delivering impressive financial results. Total Revenue for all listed cement producers rose by 30.97% year-on-year (y/y) to ₦3.17 trillion, up from ₦2.42 trillion in H1 2024.

This robust performance was largely driven by price adjustments across the sector, with some players also recording notable volume growth. Dangote Cement, the industry leader, played a key role in this expansion, posting a 17.7% y/y Revenue increase to ₦2.07 trillion from ₦1.76 trillion in H1 2024, further cementing its market dominance. BUA Cement, the second-largest producer, reported a strong 59.4% y/y Revenue jump to ₦580.30 billion, up from ₦363.94 billion in the same period last year.

Lafarge Africa delivered the highest revenue growth among the top three, with a 74.9% y/y increase to ₦516.98 billion, compared to ₦295.58 billion in H1 2024. Overall, these results align with expectations and highlight the sector’s continued resilience and growth potential.

Click here to download full report: CSL Nigeria Daily – 29 July 2025 – Cement.pdf​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​