Dangote Cement Soars: A N10 Trillion Milestone Shakes Nigeria’s Market
In a record-breaking leap, Dangote Cement has rocketed past the N10 trillion mark in market capitalization, becoming the first Nigerian company to achieve this historical feat. Today’s 9.99% surge pushed its share price to N592.60, solidifying its position as the undisputed champion of the Nigerian Stock Exchange.
This year’s performance has been nothing short of stellar. Starting 2024 at N319.9, Dangote Cement’s share price has inflated by a remarkable 85.2%, translating to a capital gain of a staggering N4.644 trillion.
But the gains aren’t confined to Dangote Cement alone. This surge has catapulted the company, once third in the NGX rankings, to the top of the heap. Airtel Africa and MTN Nigeria, former market leaders, are now left trailing behind with N7.52 trillion and N6.07 trillion respectively.
Related Posts
This monumental achievement doesn’t stop at national borders. Dangote Cement has now cemented its place among Africa’s corporate giants, ranking fifth in terms of market capitalization. Among the top ten, it stands proudly as the sole representative of Nigeria, a beacon of economic might amidst a sea of South African competitors.
With a market cap exceeding $11 billion, Dangote Cement has etched its name not just in Nigerian history but also in the annals of African business. This is a moment to celebrate, a testament to strategic vision and relentless pursuit of excellence. As the dust settles, one thing is clear: Dangote Cement has shattered ceilings and redefined the landscape of Nigerian and African business, a feat that will resonate for years to come.
