The range bars show that the Nigerian cement companies, BUA Cement and Dangote Cement are generating handsome returns for their shareholders. In 2022 both cement companies generated returns on equity in the upper quartile of cement companies around the world. Both companies continue to invest in their Nigerian cement businesses.

Early in 2023 it was announced that Dangote are building a new integrated 6Mta cement plant in Itori, Ogun state. This hard on the heels of the commissioning of their 3Mta integrated plant at Okpella in Edo state in late 2022. Meanwhile BUA cement has recently begun at production its new 3Mta line 5 at their Sokoto plant in northern Nigeria.

Both indigenous Nigerian companies continue to demonstrate their belief in the future of their country. The returns on equity they are achieving fully justifies their beliefs.

Whitehopleman’s cement company financial performance benchmarking database contains financial performance data from more than fifty cement companies from around the world, including all the major multinationals, but also smaller regional and national cement companies, including Dangote Cement and BUA Cement, of course.