Investors Reap Big as Dangote Cement Shares Soar 9.5%, Analysts See More Gains Ahead
- Dangote Cement’s share price has surged in the Nigerian Exchange Limited (NGX), leading to the exchange’s rally
- Data from the NGX on Friday, October 17, 2025, shows that the Cement firm’s share price soared 9.50% to N575 per share
- Analysts and experts have already pegged the company’s share price at N661.49 per share in the next session
Pascal Oparada, a reporter for Legit.ng, has over ten years of experience covering technology, energy, stocks, investment, and the economy.
Dangote Cement’s market value spiked 9.5% on renewed investor optimism, cementing its position as one of the NGX’s biggest movers of the week.
Data from the Nigerian Exchange Limited (NGX) shows that the cement firm’s share price soared to N575 per share on Friday, October 17, 2025, as 2.023 million units valued at N1.145 billion exchanged hands.
The cement company’s positive price movement spurred the firm’s market value higher by 9.50% week-on-week, to almost its highest valuation in one year.
Source: UGC
Dangote Cement’s share soars
According to a report by Market Forces Africa, at the end of trading on Friday, October 17, 2025, Dangote Cement’s 16.873 billion shares propelled the firm to N9.702 trillion market cap, representing 0.34% below its highest valuation in one year.
Analysts at CardinalStone Securities Limited announced N661.49 as the cement firm’s target share price.
The investment firm said Dangote’s Cement’s growth momentum should rally into Q3 2025, supported by resilient domestic demand and pricing stability.
Experts said that they expect solid volume performance from the Nigerian operations, as the third quarter always records softer production levels due to the rainy season impact on construction activities.
Expert predict subdued financials
However, the cement volumes from Dangote are expected to be higher on a yearly basis, driven by ongoing public-sector demand.
According to the analysts, performance across Africa’s largest cement maker’s segment has been more subdued, showing persistent geopolitical and liquidity constraints in critical markets, which may outweigh growth for the division.
CardinalStone disclosed that Dangote Cement’s Nigerian arm should offset part of the weakness.
“While price hikes have moderated in recent quarters, average revenue per tonne is likely to print higher year on year in Q3 ’25, sustaining topline traction,” CardinalStone said.
More upsides come from an increase in exports of clinker from Nigeria to neighbouring countries, supported by the African Continental Free Trade Area (AfCFTA).
Dangote Refinery’s operations to offset losses
Stock market watchers revealed that Dangote Cement’s operational efficiency remains a significant driver of resilience.
The alternative fuel initiative continues to gain traction, with the thermal substitution rate hitting 9.8% in the first half of 2025 against 8.30% in the same period in 2024.
CardinalStone Securities said the deployment of 3,100 CNG trucks by the Dangote Refinery, which is part of a broader plan to phase out diesel trucks in two years, should reduce pressure from energy-related costs in the quarter.
They noted that the naira’s appreciation positions the company to report foreign exchange gains, relative to the losses recorded in Q3 2024.
Source: Getty Images
Overall, the combination of stable pricing, cost containment, and FX gains should support strong earnings delivery for both Q3’25 and 9M’25 for the cement company, CardinalStone said.
New $600m Nigerian Cement giant to rival Dangote, others
Legit.ng earlier reported that Nigeria’s cement industry is set for another shake-up as MSM Group announced it is on track to build a $600 million cement factory with a production capacity of 12 million tons annually.
The project, located in Kebbi State, is part of the company’s long-term investment strategy to diversify into the manufacturing sector.
Speaking at a press briefing in Abuja, MSM Group Chairman Muazzam Mairawani revealed that the facility will be executed in clusters, with each cluster valued at about $600 million.
Source: Legit.ng
