Olakunle Alake, a non-executive director at Dangote Cement Plc, has significantly boosted his investment in the company by acquiring two million additional shares.
The acquisition, worth roughly ₦1.02 billion, was confirmed through a share dealing notice recently submitted to the Nigerian Exchange (NGX) and endorsed by Edward Imoedemhe, the company’s acting secretary.
The document reveals that the shares were bought on July 31, 2025, for ₦511 per share. The transaction was recorded under the identification code NGDANGCEM008.
Before this acquisition, Alake held 10 million shares in the cement giant, which accounted for 2.38% of the 419.9 million total shares owned by directors, as disclosed in the company’s Q2 2025 filing. With this new purchase, his total shareholding rises to 12 million units, or 2.86% of the directors’ total stake. This move solidifies Alake’s position as the company’s second-largest individual director shareholder, trailing only Aliko Dangote, who maintains 27.6 million shares, representing 6.58%.
Alake’s acquisition appears timed with the stock’s pullback to near the ₦500 level—a zone viewed by market watchers as an optimal entry point within its ongoing upward trajectory.
Dangote Cement has generally trended upwards on the Nigerian Exchange, peaking at ₦763 in January 2024. However, it faced a protracted decline beginning in February 2024, bottoming out at ₦394 by January 2025.
Mid-July 2025 brought renewed investor interest, triggering a price surge that pushed the stock above its ₦480 resistance, eventually reaching ₦528.30 by the week ending August 1, 2025.
The resurgence in investor confidence is largely attributed to Dangote Cement’s stellar second-quarter financial results:
The company posted a Q2 2025 pretax profit of ₦418.06 billion, marking a 230.35% increase compared to last year.
Revenue also climbed by 14.24% year-on-year to ₦1.1 trillion.
This performance brings Dangote Cement’s H1 2025 pretax profit to ₦730 billion, a 149% surge from the prior year, equating to 99.7% of the company’s entire pretax profit for 2024.
At ₦528.30 per share, analysts at Cordros Securities continue to recommend a ‘Hold’ on Dangote Cement, assigning a target price of ₦604.91.
In a recent update, Cordros analysts attributed the company’s improved outlook to efficient cost control and sustained profitability.
Revenue in H1 2025 climbed 17.7% year-on-year, supported by stable demand and robust pricing strategies.
Meanwhile, the cost of sales only rose 7.3%, which significantly bolstered profit margins.
At the current valuation, Dangote Cement trades at 8.6x projected 2025 earnings and 5.5x EV/EBITDA, making it attractively priced given its prospects.
According to Cordros, though the upside potential from the current level is limited to 14.5%, the stock still appeals to income-focused investors, thanks to a projected dividend of ₦50.00 per share in 2025, translating to a 9.5% yield.
