Top cement companies, Dangote Cement, BUA Cement, and Lafarge Africa, have reported a combined N3.632 trillion sales revenue in the third quarter of 2024.

The total amount represents a 69.3% rise from N2.140 trillion combined revenue reported by the firms in the same period in 2023.

Despite economic challenges which shook the business terrain, including the FX crisis and rising energy costs, these cement companies have still recorded a surge in sales.

The companies achieved outstanding financial performance driven by price changes.

Domestic cement prices have remained high, ranging from N7,400 and N8,000 per 50 kg bag, from an average of N6,000 a year ago, indicating a broader macroeconomic situation.

Increased sales volume and higher product prices also resulted in the substantial earnings of these companies.