Nigeria’s cement manufacturing firms, including; BUA, Dangote and Lafarge have reported impressive first quarter financial statements.

The growth comes amid claims of inclement operating environment riddled with high operating costs, logistics, and other overheads which have seen the market price of the commodity shoot past the N10, 000/50kg bag.

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This is also as Chairman of the BUA Group, Abdul Samad Rabiu, applauded the reforms in the foreign exchange market which he said were beginning to ease pressure on manufacturers and improve operational planning.

According to the BUA chief, the reforms were timely as the industry relies heavily on imported spare parts and energy inputs, making it highly vulnerable to exchange rate fluctuations and rising operating costs.

From a reported much stronger shareholder returns, to positive performances at the stock market, these companies have seen profit climb from previous statements recorded during the last first quarter.

Figures obtained from the companies’ separate financial reports showed a combined profit margins increase to almost 32 per cent in Q1, 2026 from the about 22 per cent reported for the same period last year.

With a net profit margin of almost 50 percent, BUA Cement became the most successful of the three, just as Lafarge Africa remained the leader in stock market performance as its share price increased by more than 150 percent from the start of the year.

With its market capitalization nearing N20 trillion, Dangote Cement maintained its financial stability and market-value supremacy. Lower debt levels and decreased finance expenses were advantageous to the company and significantly increased profits.

Meanwhile, speaking during the company’s 10th Annual General Meeting (AGM) of his company, held in Abuja, last Thursday, Chairman of BUA Group, Abdul Samad Rabiu, acknowledged that though the devaluation of the naira posed serious challenges to manufacturers, recent stability in the forex market had helped businesses project and plan more effectively.

According to him, Nigeria’s cement prices remain competitive when compared with prices in neighbouring countries where local manufacturers export their products.

Rabiu further stated that the foreign exchange reforms created a fairer and more transparent market for businesses seeking foreign currency.

“Today, whatever rate I get, it’s the same rate anybody gets,” he said.

He added that manufacturers could now make projections six to nine months ahead due to the relative stability witnessed in the exchange rate in recent months.

Rabiu disclosed that BUA Cement recorded revenue of N1.2tn in 2025, compared to N876.5bn in 2024. Profit before tax rose by 367 per cent to N465.3bn from N99.6bn, while profit after tax climbed by 381.7 per cent to N356bn from N73.9bn recorded in the preceding year.