Dangote Cement PLC Market Capitalisation Hits N10 Trillion in NGX

On Monday, it was reported that Dangote Cement's market capitalisation reached N10 trillion, making it the first company to achieve such a milestone on the Nigerian Exchange Limited (NGX).

This was attributed to the fact that a close ally of Aliko Dangote acquired some shares in the company. Billionaire businessman Femi Otedola is the leading shareholder in Forte Oil and Geregu Power Plc. 

Dangote Cement's market capitalisation finished at N10.098 trillion after gaining a 9.99% rise in stock at the close of yesterday's trading session.

Last year, the company finished with a market capitalisation of N5.451 trillion. At the close of trading on Monday, it stood at N590.60 per unit.

Dangote Cement investors witnessed an 85.25% appreciation in their investment in capital gains. 

Otedola, explaining his reasoning for buying stakes in Dangote Cement in a statement issued on Monday, said the potential of Dangote Cement to earn foreign exchange as well as its compliance with Environmental, Social, and Governance principles made it an ideal investment for him, PUNCH report.

He said,

• Dangote Cement's unique position with two export terminals offers a substantial opportunity to earn foreign exchange, which is crucial for Nigeria's economy. This, along with the company's pan-African presence, makes it an ideal investment choice.

• Dangote Cement's strong corporate governance and impressive ESG compliance track record make it an ideal investment choice. It represents the type of company that contributes to Nigeria's industrial strength and aligns with my vision for ethical and sustainable business practices.

• My investment decisions focus on long-term wealth preservation and ensuring shareholders are the ultimate beneficiaries of a company's success. Companies like Dangote Cement consistently deliver value to their shareholders and are fundamental for sustainable economic growth. My investment reflects my belief in its capacity to continue providing significant returns and my commitment to businesses prioritising their shareholders.