Africa’s richest man, Aliko Dangote, has suffered a significant paper loss after a sharp decline in the share price of Dangote Cement Plc wiped an estimated N4.23 trillion from his equity holdings within just 24 trading days. The downturn follows a strong rally earlier in the year that pushed the company’s stock to historic highs, making the recent correction one of the most talked-about developments on the Nigerian Exchange (NGX).
Dangote Cement shares climbed to as high as N1,180 in early June and reached an all-time peak of N1,189 in May 2026. However, the stock has since fallen to N891 per share as investors adjusted positions following the company’s dividend payout and broader market shifts. The decline of N289 per share has significantly impacted the value of the company, reducing its market capitalization and affecting the wealth of its majority shareholder, Aliko Dangote, whose investment vehicle, Dangote Industries Limited, controls an 86.65 percent stake in the cement giant.
Despite the recent setback, market analysts note that the decline is largely linked to technical factors, particularly the stock’s ex-dividend adjustment after the payment of a N45 dividend per share. The company rewarded shareholders with a 50 percent increase in dividend payout compared to the previous year, reinforcing confidence in its financial strength. Dangote Industries Limited alone received an estimated N657.96 billion in dividend income from the 2025 financial year, highlighting the substantial returns generated by the business.
The recent share price correction comes against the backdrop of a strong financial performance by Dangote Cement. The company reported group revenue of N4.307 trillion for the 2025 financial year, representing a 20 percent increase from the previous year. Group net profit more than doubled to N1.015 trillion, while earnings per share surged by over 100 percent. The company also strengthened its regional footprint by commissioning a three-million-tonne-per-annum grinding plant in Côte d’Ivoire, bringing its total installed capacity across Africa to 55 million tonnes annually.
Looking ahead, Dangote Cement remains optimistic about its growth trajectory despite the market turbulence. Chairman Emmanuel Ikazoboh reaffirmed the company’s commitment to creating long-term value for shareholders, citing disciplined capital allocation, operational excellence, and expansion plans as key priorities. With an ambitious target of increasing installed capacity to 80 million tonnes per annum by 2030, the company is betting on sustained growth, higher exports, and improved efficiency to maintain its leadership position in Africa’s cement industry.
source: business day