Dangote Cement accounted for the largest portion of the combined finance cost in H1 2026, with approximately N112.1bn, compared with about N216bn in H1 2025. BUA Cement also recorded a substantial reduction in finance costs, from N38.14bn in H1 2025 to N22.14bn in H1 2026, representing a decline of about N16bn, or 42 per cent. AdvertisementThe combined figures show that finance costs consumed significantly less of the cement manufacturers’ operating earnings in H1 2026 than they did a year earlier. Independent analysis of the company’s H1 results also puts the cost of sales at N301.89bn, confirming the relatively limited growth in production costs. Consequently, aggregate cost of sales fell from about 42.6 per cent of revenue in H1 2025 to 37.8 per cent in H1 2026.