Dangote Cement records N420billion loss in first quarter of 2021

The cement company lost over N420 billion in its market value following the 10.44% decline between January to March 2021.

The firm had ended the first month with N4.02 trillion. In February, Dangote Cement shed N320 billion in its market worth to drop to N3.7 billion, before recording another loss of N100 billion last month to end March with N3.6 trillion.

This brought the total loss of Dangote Cement to N420 billion in the first quarter this year. During the same period, the share price of the company lost N29.9kobo.

The share value fell from N244.90kobo per share in January to N215 per share in March this year, reflecting the depreciating situation in Dangote Cement. As the company loses over N420 billion, more stakeholders sold off their shares to avoid the dip.

Aside from Dangote Cement recording a loss, last week the founder, Aliko Dangote’s wealth dropped by $16.7 billion between 2014 to 2020. His networth fell from $25 billion in 2014, to $11 billion as of April 7, 2021.