Dangote Cement Slashes Net Debt by 83% as Cash Pile Grows

Dangote Cement Plc cut its net debt by 83% in the first quarter of 2026, driven by strong operating cash flows and aggressive loan repayments, according to the company’s data analysed by Markets Reporters.

Net debt fell to ₦114.0 billion at the end of March 2026 from ₦682.92 billion in December.

The company’s total debt dropped to ₦618.85 billion from ₦1.08 trillion, while cash balances climbed to ₦504.83 billion from ₦397.57 billion, underscoring a sharp improvement in liquidity.

Dangote Cement said it generated ₦554.5 billion in cash from operations before working-capital movements in Q1 2026. After a net working-capital movement of ₦49.8 billion and tax payments of ₦13.0 billion, the company reported net cash flow from operations of ₦591.3 billion for the quarter.

Financing cash flow, excluding overdrafts, stood at ₦495.8 billion, reflecting net loan repayments of ₦459.2 billion, interest paid of ₦35.7 billion, and lease payments of ₦0.8 billion.

Cash and cash equivalents, net of bank overdrafts, rose to ₦471.1 billion by the end of Q1 2026, up from ₦362.6 billion in December, further supporting the steep decline in net leverage.