Otedola reportedly targets 5% Dangote Cement stake as shares surge 10%

Billionaire investor Femi Otedola is reportedly buying Dangote Cement shares again, targeting a 5% stake according to sources who spoke to Nairametrics. The cement maker's stock jumped 10% to close at ₦1,111 on Friday, pushing market capitalisation to about ₦18.7 trillion—though Nairametrics could not independently verify Otedola's purchases or link them to the price surge.

Dangote Industries holds 86.65% of the company (as of December 2025), leaving a free float under 10%. Sources say Otedola has cash available and views Dangote Cement as undervalued, consistent with his 2024 investment when shares traded around ₦350. Back then, he cited the company's export potential, dividend track record exceeding ₦2.1 trillion, and governance standards where "no individual should be larger than the company."

The stock opened 2026 at ₦609, peaked at ₦1,180 in June, pulled back below ₦900, and has now recovered above ₦1,100. Friday's 10% gain is confirmed by published trading data, but the identities behind individual transactions aren't routinely disclosed—so Otedola's reported role remains unverified.

With Dangote Cement at ₦1,111 (up from ₦350 in 2024), would you follow the reported institutional money or wait for verified exchange filings before making a move?

SOURCE: https://nairametrics.com/2026/10/24/scoop-otedola-buying-dangote-cement-again-as-shares-jump-10/