Dangote Cement Director Acquires N1.02 Billion in Shares Amid Price Recovery

Olakunle Alake, a non-executive director at Dangote Cement Plc, has increased his equity in the company with the acquisition of 2 million shares valued at N1.02 billion.

A regulatory filing to the Nigerian Exchange (NGX) disclosed that the shares were purchased at N511 per unit on July 31, 2025. The purchase raises Alake’s total holdings to 12 million shares, positioning him as the second-largest individual shareholder among the board, behind Chairman Aliko Dangote.

The acquisition coincides with a renewed upward momentum in Dangote Cement’s share price. After a steady decline from a high of N763 in early 2024 to a low of N394 in January 2025, the stock began rebounding in July, closing at N528.30 at the start of August.

Analysts link the rebound to the company’s robust Q2 financial results, which showed a 230% year-on-year jump in pretax profit to N418.06 billion. Revenue for the quarter climbed to N1.1 trillion—marking a 14.24% growth.

The cement giant’s half-year pretax profit stands at N730 billion, up 149% compared to the same period in 2024, already accounting for nearly 100% of last year’s full-year figure.

Following the results, analysts have maintained a ‘Hold’ recommendation with a target price of N604.91. At its current valuation, the stock trades at 8.6 times projected 2025 earnings and 5.5 times EV/EBITDA, indicating continued investor interest.

With a projected dividend of N50 per share, Dangote Cement offers a 9.5% yield, reinforcing its appeal for income-focused investors even as upside potential narrows.