Cement prices hold at N12,600 to N13,100 as Dangote, BUA, HBM post strong profits

Cement dealers are quoting between N12,600 and N13,100 for a 50kg bag of Dangote, BUA and HBM cement in Abuja, a Buildocrat price listing updated on October 15, 2026 shows. The quotes came as the three manufacturers reported strong earnings for 2026.

Dangote 3X cement topped the listing at N13,100 per bag. BUA cement followed at N12,800, while HBM Elephant cement was quoted at N12,600. A buyer purchasing 100 bags would spend N1.31 million on Dangote, N1.28 million on BUA and N1.26 million on HBM.

Price gap across brands

HBM Elephant Cement was N500 cheaper per bag than Dangote 3X cement. BUA cement was N300 cheaper than Dangote. In September, prices of Dangote and BUA cement differed across Lagos, Abuja, Kano and Ibadan, with some dealer quotations reaching N15,000 per 50kg bag.

Dangote leads earnings

Dangote Cement recorded the highest earnings among the three companies. Revenue rose 19.6% year on year to N3.8 trillion in the nine months ended September 2026. Profit after tax climbed 31.2% to N974.8 billion from N743.3 billion in the same period of 2025. Profit before tax rose 41.5% to N1.5 trillion, while EBITDA grew to N1.8 trillion from N1.4 trillion.

The company said improved cement and clinker sales drove revenue growth. Nigeria accounted for 70.8% of total sales. Cost of sales as a share of revenue fell to 36.8% from 40.8% a year earlier, reflecting improved cost efficiency.

BUA and HBM growth

BUA Cement reported revenue of N1.1 trillion in the first nine months of 2026, up 26.5% from N858.7 billion in the corresponding period of 2025. Profit after tax rose 59.8% to N463.1 billion. Profit before tax jumped 64.4% to N556.7 billion.

Managing Director and Chief Executive Officer Yusuf Binji credited the performance to additional bulk customers, the acquisition of liquefied natural gas-powered trucks and changes to logistics operations. Cost of sales rose 8.8% to N466.4 billion, partly due to energy costs and operational challenges.

HBM Nigeria, formerly known as Lafarge Africa, covered a shorter period in its latest filing. For the six months ended June 30, 2026, revenue rose 31.23% to N678.41 billion from N516.98 billion in the same half of 2025. Profit before tax stood at N317.73 billion, while profit after tax reached N208.35 billion.

HBM's plan to boost production at two of its manufacturing sites has stirred optimism in the equities market. Its shares climbed 5.1%, snapping out of a flat run at N157 that had lasted since late January. The stock finished trading in Lagos at N165.

The figures show manufacturers posting substantial earnings in 2026 while consumers continue to absorb the cost of one of Nigeria's most essential building materials. For builders and small contractors, the N12,600 to N13,100 price range keeps cement as a major cost item in construction budgets.