Nigeria’s 3 largest cement companies made a total profit of N207 billion as at the 3rd quarter of 2017. Of this sum. Dangote Cement was responsible for 93% of the industry’s entire profit.
Dangote Cement which is Nigeria’s largest cement company by production volume made N193 billion in profits for the period ended September 2017, a 45% increase compared to N133 billion made the prior year. Lafarge Africa made N13.4 billion for the period ended September 2017, an improvement from the N40 billion loss made the corresponding period in the prior year. Sokoto Cement also known as (Cement Company of Northern Nigeria) had the biggest jump in profits. The company’s profit after tax jumped massively by 175% from N727 million in 2016 to N2 billion in 2017.