Dangote, BUA, HBM, Others Confirm New Cement Prices Amid N5 Trillion Revenue Haul
- Dangote Cement, BUA Cement and HBM Nigeria earned ₦4.68 trillion in domestic revenue in the first nine months of 2026, up 22.5 per cent
- Cement prices range from ₦11,000 to ₦13,500 per 50kg bag, as the FCCPC investigates industry pricing practices
- HBM and Dangote plan production expansions, but builders and households still want to know whether more cement will bring lower prices
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Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigeria’s leading cement manufacturers, Dangote Cement, BUA Cement and HBM Nigeria Plc, formerly Lafarge Africa, generated a combined ₦4.68 trillion in domestic revenue during the first nine months of 2026, amid sustained demand for building materials and concerns over cement prices.
The figure represents a 22.5 per cent increase from the ₦3.82 trillion recorded during the corresponding period of 2025.
Source: Getty Images
The impressive performance comes as the Federal Competition and Consumer Protection Commission (FCCPC) investigates pricing practices in an industry where manufacturers continue to report substantial profits despite complaints from builders and property developers.
Latest cement prices across major brands
A November 7, 2026, market update by construction price tracker Buildocrat showed that a 50kg bag of cement costs between ₦11,000 and ₦13,500 in Abuja, depending on the brand and supplier.
The indicative prices were:
Cement brand | Price per 50kg bag |
Dangote 3X | ₦12,500 |
BUA Cement | ₦12,200 |
HBM Elephant | ₦12,000 |
HBM Powermax | ₦13,500 |
The tracker estimated average prices at ₦12,720 in Lagos and ₦12,960 in Port Harcourt.
These are market estimates rather than officially confirmed manufacturer prices, and actual quotations vary by location, transportation and dealer margins, according to The Nation’s report.
Dangote leads cement revenue growth
A review of the manufacturers' financial results showed that Dangote Cement retained its dominant position, generating ₦2.67 trillion in Nigerian revenue, compared with ₦2.18 trillion in the corresponding period of 2025.
BUA Cement's revenue climbed from ₦858.73 billion to ₦1.09 trillion, while HBM Nigeria recorded ₦928 billion, representing an 18.9 per cent increase.
Profitability also strengthened significantly.
Dangote Cement Group's profit before tax rose 41.5 per cent to ₦1.47 trillion, while net profit increased to ₦974.79 billion.
BUA recorded a 59.8 per cent rise in net profit to ₦463.1 billion, while HBM's after-tax earnings climbed 30.9 per cent to ₦271.99 billion.
FCCPC investigates high cement prices
The impressive earnings have intensified scrutiny of pricing practices within Nigeria's cement industry.
The FCCPC launched an investigation following complaints about high cement prices despite the country's substantial limestone deposits and domestic manufacturing capacity.
The commission requested information on pricing methodologies, production capacity, exports and commercial relationships.
Its investigation also examined cement markets in Kenya, Tanzania, South Africa, Egypt, Morocco and Algeria.
However, the investigation does not establish wrongdoing, and no final finding of price manipulation was provided in the available information.
Manufacturers announce fresh expansion plans
Despite regulatory scrutiny, major manufacturers are expanding production to meet growing construction demand.
HBM Nigeria plans to complete expansions at its Sagamu and Ashaka plants by the first quarter of 2027, while advancing plans for another production line in Calabar.
Source: Getty Images
Dangote Cement is also progressing with its six-million-tonne Itori plant as part of its broader capacity expansion programme.
Manufacturers expect infrastructure investment, urbanisation and improving economic conditions to support further growth.
For Nigerian households and developers, however, the pressing concern remains whether increased production will eventually translate into more affordable cement.
Dealers announce new cement prices
Legit.ng earlier reported that cement dealers are now quoting between N12,600 and N13,100 for a 50kg bag across the three major brands, according to a price listing by Buildocrat updated on October 15, 2026.
Dangote 3X cement topped the list at N13,100 per bag, followed by BUA cement at N12,800 and HBM Elephant cement at N12,600.
Source: Legit.ng
