Market Capitalisation of Dangote Cement Crosses N20trn Mark on NGX

The market capitalisation of Dangote Cement Plc on the Nigerian Exchange Limited (NGX), yesterday crossed the N20 trillion mark, making it the second  most capitalised listed company on the bourse.

The milestone N20.62 trillion market capitalization as of October 26, 2026 is on the backdrop of a 10 per cent gain in its stock price to N1,222.10 per share from N1,111.00 per share it opened  for trading this week. 

At N1,222.10 per share, Dangote Cement stock hit a 52 week high amid  the ongoing Dangote Petroleum Refinery and Petrochemicals’s Initial Public Offering (IPO).

The stock price of Dangote Cement that opened for trading this year at N609 per share has gained 100.67per cent to close at N1,222.10 per share as of October 26, 2026.

Capital market analysts stated that surge demand for Dangote Petroleum Refinery and Petrochemicals by retail and institutional investors spread  to   Dangote Cement stock  on the NGX.

The landmark IPO Dangote Petroleum Refinery and Petrochemicals enters its final days, with  investors accelerating participation ahead of the closing date of October 27, 2026.

The company said, “This is the final deadline, and no further extension will be granted. Investors wishing to participate must complete their subscriptions before the offer closes.”

The surge in demand follows the refinery’s recently released nine-month financial results, which showed exceptional growth in revenue, profitability, and cash generation, reinforcing investor confidence in the company’s long-term prospects.

Dangote Cement yet to announce nine months ended September 30, 2026 revealed that its  Group revenue increased by 21.4 per cent to N2.514 trillion in the half year (H1) ended June 30, 2026, while Group EBITDA rose by 25.8 per cent to N1.188 trillion, reflecting a margin of 47.3 per cent.

Earnings per share advanced by 24.3 per cent to N38.22, as the company closed the period with a strong net cash position of N215.2 billion.

Overall Group volumes grew by 11.8 per cent to 14.9 million tonnes, supported by resilient demand in key markets. Nigeria continued to anchor earnings, with EBITDA from the domestic market rising by 28.4 per cent to N1.086 trillion and margins improving to 60.1 per cent.

Operational efficiency remained a key focus, with the company reporting a strong reduction in Nigeria cash costs, supported by a more favourable energy mix. It also commissioned the Okpella mobile refuelling unit and added 300 compressed natural gas trucks in Tanzania as part of efforts to improve logistics efficiency and reduce operating costs.

Speaking on the results, chief executive officer, Dangote Cement, Mr Arvind Pathak, in a statement said the first-half performance reflected the strong momentum the company had built since the start of the year, supported by disciplined execution, higher sales volumes and sustained demand across key markets.

“Our performance in the first half of 2026 reflects the strong momentum we have continued to build since the start of the year. The business delivered another solid set of results, supported by higher sales volumes, disciplined execution, and sustained demand across our key markets,” Pathak said.

He noted that revenue growth, stronger EBITDA and the N215.2 billion net cash balance underscored the resilience of Dangote Cement’s business model and its capacity to invest in future growth while maintaining disciplined capital allocation.