- •Shareholders get N3.3tr dividends in 15 years
Dangote Cement Plc yesterday outlined a five-point growth strategy that is expected to boost shareholders’ return as the cement group transited from its founding chairman and promoter to a new board.
At the presentation of the cement group’s underlying facts and new chairman and directors at the Nigerian Exchange (NGX) yesterday in Lagos, Dangote Cement highlighted its transformational impact on the capital market and the economy.
Mr. Emmanuel Ikazoboh was appointed the chairman of the cement group in July 2025 after the founder and President of Dangote Group, Alhaji Aliko Dangote stepped down as chairman.
Ikazoboh said the board would build on the impressive performance of the group over the years, assuring that ongoing strategic initiatives would not only sustain the company’s growth trajectory but also strengthen its role in Africa’s industrial and economic development.
He outlined the board’s priorities to include sustaining the company’s governance structures, driving growth and market transformation, accelerating innovation to reduce the group’s carbon footprint, expanding engagement with partners and host communities, and investing in its workforce.
He noted that shareholders of Dangote Cement have received more than N3.3 billion in dividends over the past 15 years, which in addition to impressive capital gains, highlighted the company as one of the most attractive investments at the stock market.
He assured the investing public that the board and management would ensure consistent good returns on their investments.
He said Dangote Cement remains resolute in transforming Africa by creating sustainable value for all its stakeholders, as it will do all to achieve its vision of making Africa self-sufficient in cement and clinker.
He said: “To our investors, you have my unwavering commitment to safeguarding and growing your investment. To our regulators and market operators, you have my pledge of continued partnership and adherence to governance standards that lead rather than follow. To our employees and partners, you have my gratitude and my assurance that our collective strength will propel us to achievements we haven’t yet imagined”.
He said the group would work closely with NGX Group and its stakeholders to sustain robust governance structures, pursue innovation, and strengthen engagement with investors and communities.
“This collaboration will be essential to securing the company’s next phase of growth,” Ikazoboh said.
Chief Executive Officer, Dangote Cement Plc, Arvind Pathak, said the group plans to expand installed capacity to 66.4Mta by 2030, supporting its long-term vision of making Africa self-sufficient in cement and clinker production.
He explained that the growth would be driven by a mix of greenfield and brownfield projects.
He noted that company has commissioned the first phase of 1.5 Mta of its 3.0 Mta Côte d’Ivoire plant, while construction of the 6.0 Mta integrated Itori Plant continues to advance steadily.
He pointed out that the company has announced a $400 million investment to double its production capacity in Ethiopia.
He said that the company’s growth ambitions are increasingly tied to sustainability and innovation.
He said: “We are committed to building on our achievements by embedding environmental responsibility into our operations, expanding our regional footprint, and ensuring long-term value for shareholders”.
Pathak said the group has committed more than $8.5 billion in capital investments across Africa over the past 15 years, underscoring its long-term confidence in the region’s growth prospects.
Group Chairman, Nigerian Exchange Group (NGX Group) Plc, Alhaji Umaru Kwairanga praised the Alhaji Aliko Dangote for his substantial contributions to the Nigerian capital market and private sector development.
He described the former chairman of Dangote Cement as his mentor, noting that Aliko Dangote has clearly shown that wealth can not only be created but also transferred to the public through the capital market.
He said: “Dangote Cement has long been a cornerstone of our Exchange, contributing significantly to market depth, liquidity, and investor confidence. The appointment of Mr Ikazoboh, with his track record in governance and market reforms, signals continuity and ambition. At NGX Group, we remain committed to providing a credible and innovative platform that enables companies of this scale to thrive”.
Group Managing Director, Nigerian Exchange Group (NGX Group), Temi Popoola, said Dangote Cement’s growth story illustrates the possibilities for companies that leverage the full depth of NGX Group’s ecosystem.
He also lauded the new management and board of Dangote Cement, noting that with Ikazoboh as the chairman, the shareholders will surely be happy.
Chief Executive Officer, Nigerian Exchange (NGX), Jude Chiemeka, explained that the “Facts Behind the Figures” presentation was designed to enhance market transparency and improve investor understanding.
He said: “Engagements such as this demonstrate the value of consistent disclosure and accountability. They also reaffirm NGX’s role as the marketplace for driving industrial growth and investor confidence”.
It would be recalled that at its recent annual general meeting, shareholders of Dangote Cement had commended the board, management, and staff of the company after approving a dividend payout of N502.6 billion, which translated to N30 kobo per share.
The company, in the same vein, also significantly increased its social investments by 469.8 per cent to N3.2 billion. The corporate social responsibility (CSR) activities were in education, healthcare, agriculture, infrastructure, and economic empowerment.
President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Faruk Umar, said the shareholders were pleased with Aliko Dangote and his team.
He said that for the company to still pay a robust dividend despite the obvious economic challenges, which also affected their operations, shows the doggedness and fighting entrepreneurial spirit of the Management.
“We are happy with this result. 2024 was very challenging due to the fluctuations in the foreign exchange market and the company’s expansion programme. But despite all these challenges, the company was still able to pay us a very good dividend and even gave us hope of better returns on our investments in the years to come. This is very commendable, and it is only a company like Dangote Cement that can achieve this laudable feat,” Umar said.
Chairperson, Pragmatic Shareholders Association of Nigeria, Bisi Bakare, also commended the company’s consistent dividend payment, noting that the company is moving in the best way of corporate governance.
She said: “As a shareholder and an active investor of this company, I am very happy and pleased with the performance of our company so far. The earnings are not even up to N30 per share, and for the company to still declare N30 per share dividend speaks volumes of the quality of leadership that we are lucky to have in Dangote Cement”.
