Dangote Cement Opens N100 Billion Commercial Paper Issuance
Dangote Cement Plc has launched a new round of commercial papers worth ₦100 billion for subscription, according to details contained in its offering circular.
The issuance, which comprises Series 19, 20, and 21, is part of the company’s broader ₦300 billion Commercial Paper Issuance Programme, unveiled on Tuesday.
Proceeds from the commercial paper issuance are expected to support the company’s short-term funding needs, primarily for working capital and other operational expenses.
The pricing structure includes a 93-day paper at a 19.9334% yield, a 184-day paper at 20.6103%, and a 268-day offering with a 20.7647% discount rate.
The offer officially opened to investors earlier this week and is set to close on Friday, 13 June 2025.
As the largest cement producer in sub-Saharan Africa, Dangote Cement operates with an installed production capacity of 52 million metric tonnes per annum (Mta), including 35.3 Mta within Nigeria alone, across a network spanning 10 African nations.
With a fully integrated model from extraction to final delivery, the company oversees the entire value chain—from quarrying to the sale and distribution of cement. According to a note from Cowry Asset Management Limited, Dangote Cement’s investments have been instrumental in replacing Nigeria’s reliance on imported cement with local production, transforming the country into a net exporter serving nearby nations.
