Scoop: Otedola buying Dangote Cement again as shares jump 10%

Billionaire investor Femi Otedola is buying Dangote Cement shares again, according to sources who spoke to Nairametrics.

Sources with knowledge of the matter said he is targeting a 5% stake in the cement producer. Dangote Cement has a free float of less than 10% with Dangote Industries owning 86.65% as of December 2025.

The reported purchases come as Dangote Cement shares gained 10% on Friday, although Nairametrics could not independently verify the buying or establish its connection to the price movement.

Otedola reportedly targets 5% stake

A source with direct knowledge of the matter said Otedola’s reported purchases reflect his interest in taking positions in companies he considers undervalued.

According to the source, the billionaire currently has cash available for investment and views Dangote Cement as one of those opportunities.

• “Mr. Otedola has cash with him now, and it appears he is taking strategic positions in companies he believes are undervalued, and Dangote Cement is one of them.”

Sources said the investor is seeking a 5% stake in the company and suggested that his purchases could have contributed to Friday’s share-price surge.

However, Nairametrics could not independently verify either the reported purchases or the size of the stake being sought.

The identities of buyers behind individual stock-market transactions are not routinely disclosed publicly.

The reported investment would nevertheless mark another purchase of Dangote Cement shares by Otedola, who publicly explained his interest in the company in 2024.

Otedola’s earlier Dangote Cement investment

In 2024, Nairametrics reported that Otedola was acquiring Dangote Cement shares when the stock traded at about N350 per share. A statement issued at the time outlined his confidence in the company’s export potential, dividend record and approach to corporate governance.

• “This strategic investment underscores Otedola’s confidence in Dangote Cement’s potential to generate foreign exchange for the country and his dedication to supporting businesses that contribute to Nigeria’s economic resilience.”
• “Dangote Cement’s track record of dividend payments, exceeding N2.1 trillion in recent years, and its commitment to sustainable business practices resonate with these principles.”
• “Otedola’s investment strategy prioritizes companies that are well-managed, have strong governance, and operate under the principle that no individual should be larger than the company.”

The statement linked the investment to support for businesses contributing to Nigeria’s economic resilience, alongside an emphasis on management and governance.

Those were the reasons outlined for his earlier acquisition; the explanation for the latest reported buying comes from sources who spoke to Nairametrics. Nairametrics’ 2024 report

Dangote Cement shares close at N1,111

Dangote Cement shares closed 10% higher at N1,111 on Friday, taking its market capitalisation to about N18.7 trillion. The gain followed a period of price declines after the stock reached higher levels earlier in the year.

• The stock opened the year at N609 per share before climbing to as high as N1,180 in June, according to the price history supplied for this report.
• It subsequently fell below N900 per share before recovering, with Friday’s closing price taking it back above N1,100.
• At N1,111 per share, the stock closed above both its opening price for the year and the sub-N900 levels reached during the subsequent pullback, while remaining below its June high.

The latest gain therefore extends the stock’s recovery following that pullback, alongside the reports of renewed buying by Otedola. Friday’s 10% advance is confirmed by published trading data, but the claim that his reported purchases drove the increase remains unverified.