The cement giant, controlled by Africa’s richest man, Aliko Dangote, currently has an estimated production capacity of 55.17 million tonnes. With the planned investment, the company aims to raise that capacity by about 45% to reach 80 million tonnes annually.
Speaking during an investor conference call in Lagos, the company’s Chief Financial Officer, Gbenga Fapohunda, disclosed that the funding would support projects in “Nigeria, Ethiopia, and some other countries.”
Expansion across seven African countries
The investment builds on a broader expansion strategy that Dangote Cement has been developing in recent months. In February, the company announced that it had signed a $1 billion agreement with Sinoma International Engineering, a Chinese engineering firm, to construct new plants and expand existing facilities across the continent.
The deal, signed in Lagos, covers 12 projects spread across seven African countries. It forms part of the company’s long-term plan to scale its production capacity to 80 million tonnes per year by 2030.
Beyond boosting production, the strategy also aligns with Dangote Cement’s ambitions to strengthen exports from Nigeria. The company previously announced plans to increase cement and clinker exports to 10 million tonnes annually by 2030, up from about 1.4 million tonnes recorded in 2025.
Recent figures already suggest momentum in that direction. Dangote Cement reported an 18.6% rise in cement and clinker exports from Nigeria, dispatching 34 shiploads of clinker to Cameroon and Ghana during the year.
Multiple financing sources for expansion
According to Fapohunda, the company intends to finance the expansion through a mix of internal and external funding sources. These include operating cash flow, supplier credit, commercial papers, bonds, and bank loans.
The investment strategy had earlier been highlighted by the company’s Group Managing Director, Arvind Pathak, who reaffirmed Dangote Cement’s commitment to expanding capacity across key African markets.
“We are confident in our growth trajectory and our ability to capitalise on Africa’s robust cement demand fundamentals,” Pathak said in an earnings release filed with Nigerian Exchange.
He added that the company would continue commissioning new plants while advancing expansion projects in countries including Ethiopia, Cameroon, South Africa, Zambia, and Senegal. Among the key projects is the 6 million metric tonnes per annum Itori plant in Nigeria.
Record profits strengthen expansion outlook
The aggressive expansion comes on the heels of the company’s strongest financial performance to date. Dangote Cement recently reported its highest profit on record, with net profit for 2025 rising to about ₦1 trillion — nearly $730 million at an exchange rate of ₦1,369.06 to $1.
The result represents more than a doubling of the company’s profit from the previous year.
Revenue also grew significantly, climbing 20.3% to ₦4.3 trillion, or roughly $3.14 billion. The increase was driven largely by stronger pricing and resilient domestic demand.
Interestingly, the strong financial performance came despite a slight decline in sales volumes. Analysts say this reflects the company’s focus on protecting margins, improving operational efficiency, and increasing exports as it positions Nigeria as a regional manufacturing hub.
Capital market milestone
Dangote Cement has also been active in Nigeria’s debt markets. In February 2026, the company became the first firm to list commercial papers on the Nigerian Exchange after the platform opened a Commercial Paper window in December 2025 with approval from the Securities and Exchange Commission.
The company listed Series 1 and Series 2 instruments under its ₦500 billion Commercial Paper Issuance Programme.
The 181-day Series 1 paper, valued at ₦19.95 billion, will mature on May 20, 2026. Meanwhile, the ₦99.92 billion Series 2 paper has a tenor of 265 days and is scheduled to mature on August 12, 2026.
Both instruments were issued at a discount and will be redeemed at their par value of ₦1,000 at maturity, offering indicative yields of 17.5% and 19%, respectively.
Continued investment across the continent
Dangote Cement has also been expanding its production footprint beyond Nigeria. In October 2025, the company commissioned a $160 million cement plant in Attingué, located about 30 kilometres north of Abidjan in Côte d’Ivoire.
The facility, which sits on a 50-hectare site, has an annual production capacity of three million metric tonnes, making it one of the company’s largest plants outside Nigeria.
With new plants under construction, rising exports, and record profits providing financial momentum, Dangote Cement appears to be doubling down on its strategy to dominate Africa’s cement market while positioning itself as a key supplier across the region.