LAGOS, August 4, 2025 — In a significant move within Nigeria’s capital market, Olakunle Alake, a non-executive director of Dangote Cement Plc, has purchased 2 million additional shares of the company, valued at ₦1.02 billion, thereby increasing his stake in the leading cement manufacturer.
The transaction, which was disclosed through an official regulatory filing with the Nigerian Exchange Group (NGX), indicates that Alake acquired the shares at an average price of ₦510 per unit. This strategic investment further cements his position within the Dangote Group’s expansive business ecosystem.
Olakunle Alake, a long-serving executive within the Dangote conglomerate, currently serves as Group Managing Director of Dangote Industries Limited. His latest acquisition reflects a strong vote of confidence in the financial health and long-term prospects of Dangote Cement, which remains one of Africa’s largest cement producers and a key player in Nigeria’s construction and industrial sectors.
Market analysts have noted that insider share purchases such as this often signal positive expectations about a company’s performance trajectory, particularly as Dangote Cement continues to expand its production capacity and market reach across sub-Saharan Africa.
The development follows a trend of renewed interest in blue-chip stocks on the Nigerian Exchange as investors respond to improved corporate earnings and macroeconomic adjustments linked to the federal government’s ongoing economic reforms, including subsidy removals and exchange rate unification.
Dangote Cement, with a market capitalization exceeding ₦8 trillion, plays a pivotal role in Nigeria’s infrastructure development and job creation efforts. Alake’s enhanced shareholding is expected to further align his interests with shareholder value growth and corporate governance priorities.
The company is yet to issue a public statement on the transaction beyond its regulatory disclosure.