Nigeria’s biggest cement producers are showing divergent trends in their trade receivables, revealing how much of their revenues comes from cash versus credit.
An analysis of the financial statements of Dangote Cement, BUA Cement, and Lafarge Africa for the nine months ended September 2025 shows a surge in the money owed to them by customers, suggesting that while cement demand remains strong, a larger portion of sales is being financed on credit rather than cash.
The combined trade receivables of the three cement giants jumped 32 percent
