Naira stability has driven the nation’s cement makers back to net foreign exchange (FX) gains, ending a loss streak that lasted for at least five years.
After seeing sharp FX losses in 2023 and 2024 due to currency devaluations, Dangote Cement, Lafarge Africa, and BUA Cement , Nigeria’s three publicly-listed cement giants, reported N49.5 billion in FX gains in the first half (H1) of 2025, reversing previous losses and boosting the overall profitability.
Of the three listed cement manufacturers, Dangote Cement, Africa’s largest producer, s
