Economy
Dangote Cement Declares N126bn Profit in Six Months
By Dipo Olowookere
In the first six months of 2020, Dangote Cement recorded a profit after tax of N126.1 billion compared with the N119.2 billion achieved in the first six months of 2019.
The net profit was made after a tax deduction of N36.7 billion in the period under review in contrast to the N36.3 billion paid in the corresponding period of last year.
According to the financial statements of the company released on Friday to the Nigerian Stock Exchange (NSE), the earnings per share of Dangote Cement in H1 2020 increased to N7.45 from N7.01 of H1 2019.
An analysis of the top line of the results showed that in the first half of this year, the revenue generated by the cement giant grew to N476.9 billion from N467.7 billion in the first half of last year.
The revenue was mainly from the sales of cement and clinker, which accounted for N476.8 billion, higher than the N467.6 billion of last year.
In the results also, the board of Dangote Cement said the production cost of sales increased to N202.4 billion from N193.2 billion especially due to higher amount spent on the material consumed to produce the bags of cement as well as the fuel and power used.
Business Post observed that another factor responsible for the higher production costs despite a reduction in the plant maintenance expenses in the period was the N7.3 billion gulped by other production expenses. In H1 2019, the sum of N2.5 billion was used for the same purpose.
A further analysis of the financial statements showed that administrative expenses gulped N26.1 billion in the period under consideration in contrast to N25.0 billion of the comparative period and this was because of the higher management fee of N2.6 billion versus N2.0 billion of last year as well as the salaries and related staff costs which increased to N7.0 billion from N6.3 billion.
However, in the first half of this year, the selling and distribution costs were pruned to N77.6 billion from N80.3 billion as a result of lower amount paid for haulage expenses, though the amount used for advertisements and promotion rose to N5.3 billion from N3.1 billion.
In H1 2020, Dangote Cement said it had N173.5 billion as profit from operating activities, higher than N170.5 billion in H1 2019, while finance income from interest grew to N5.2 billion from N4.6 billion, with the finance costs rising to N20.9 billion from N19.6 billion due to higher interest expenses.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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