Dangote Cement Plc is targeting to raise up to N100 billion from its ongoing Series 1 & 2 Commercial Paper (CP) issuance. The Series 1 & 2 Commercial Paper issuance is under Dangote Cement Plc’s N500 billion Commercial Paper Issuance Programme.
Dangote Cement is Sub-Saharan Africa’s leading cement producer, with a combined capacity of 55Mta (35.3Mta in Nigeria) across its operations in 11 African countries. The Series 1 & 2 CP issuance, which opened on Monday, November 17 is scheduled to close on Wednesday November 19, 2025.
The 180 days Series-1 CP (at 16.10 percent discount) issued at an implied yield of 17.50 percent matures on May 20, 2026. The 265 days Series-2 CP (at 16.70 percent discount) issued at an implied yield of 19 percent matures on August 12, 2026.
The net proceeds from Dangote Cement Plc’s N100billion Series 1 & 2 Commercial Paper (CP) issuance will be used for working capital purposes. The Issuer is rated AA by DataPro and A+ by GCR.
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The cement maker’s unaudited interim financial statements for the nine months (9M) ended September 30, 2025 showed that its group revenue rose by 23.2 percent to N3.154trillion from N2.560trillion in same period of 2024.
Dangote Cement Plc operates a fully integrated “quarry-to-customer” business with activities covering manufacturing, sales and distribution of cement. Through its investments, Dangote Cement Plc eliminated Nigeria’s dependence on imported cement and transformed the nation into an exporter of cement, serving neighbouring countries.
The group’s profit before tax (PBT) in 9M’25 rose to N1.040trillion a low of N406.38billion in 9M’24. Profit for the period increased by 166.3 percent to N743.263billion from N279.096billion in 9M’2024. Earnings per share at N43.8 in the nine months to September 30 went up by 164.8 percent.
Speaking on the nine months result, Arvind Pathak, Chief Executive Officer, Dangote Cement Plc said: “The commissioning of our 3Mta Côte d’Ivoire grinding plant in October marks another major step in Dangote Cement’s growth journey, increasing our total installed capacity to 55Mta across Africa. This milestone reinforces our commitment to regional self-reliance and strengthens our position as the continent’s leading cement producer”.
“Our Group revenue rose by 23.2 percent to N3.154trillion, driven by proactive management initiatives and resilient demand across our markets. EBITDA increased by 57.2 percent to N1.428 trillion, while profit after tax surged by 166.3 percent to N743.3 billion—already surpassing our full-year 2024 performance by more than 47 percent.
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“These strong results reflect the success of our efficiency programmes and disciplined cost management, particularly in Nigeria, where a more favourable energy mix significantly reduced cash costs,” he said.
“Although Group volumes declined marginally to 20.3Mt due to softer demand in a few markets, exports from Nigeria grew by 23 percent, supported by 27 successful clinker shipments to Ghana and Cameroon. We continue to advance our sustainability agenda with the phased delivery of 1,600 CNG-powered trucks that will cut logistics costs and carbon emissions. The construction of our Itori Integrated Plant is progressing well and will soon enhance domestic capacity and open new export opportunities.
“Looking ahead to the final quarter of the year, our focus remains on sustaining earnings momentum, deepening efficiency, and executing our long-term growth strategy. With a clear strategic direction, disciplined execution, and a strong balance sheet, Dangote Cement is well-positioned to sustain its leadership and deliver superior value to all stakeholders,” Pathak further said.