LE BRIEF

Nigeria: Dangote Cement and BUA report combined nine-month energy costs of ₦797.1 billion

LE BRIEF • 2026-11-06

The sum of reported cost lines rises 6.7%. It combines fuel and electricity and includes Dangote's international group operations, rather than representing a bill exclusively associated with Nigeria's grid.

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LE BRIEF — Friday, 6 November 2026, consolidated edition By the LE BRIEF newsroom Country : Nigeria Source publication : 4 November 2026 Event : Unaudited January–September 2026 financial statements analysed by Nairametrics Supplied image: cement facilities at dusk. Industrial illustration; exact site, operator and date are uncertified. Reproduction rights are not documented in the dossier. Energy remains a major cost for cement producers. According to Nairametrics' 4 November analysis of unaudited financial statements, Dangote Cement and BUA Cement report combined fuel and electricity expenditure of ₦797.1 billion for the first nine months of 2026. The total is 6.7% above the corresponding 2025 figure of ₦747.2 billion. Dangote Cement accounts for ₦580.5 billion and BUA Cement for ₦216.6 billion. The sum combines reported accounting lines, not a uniform measure of physical energy consumption. The scope extends beyond Nigeria alone Dangote's figure is group-consolidated and includes operations elsewhere in Africa. The ₦797.1 billion total should therefore not be described as entirely spent in Nigeria or compared without adjustment with Nigerian electricity distributors' receipts alone. Cement production needs both kiln fuel and electricity for grinding, handling and packaging. These uses serve different purposes: fuel consumed directly in making clinker is not the same as pur...