Billionaire investor Femi Otedola has reportedly resumed buying shares of Dangote Cement, according to a report by Nairametrics.
The publication said he is aiming to build a five per cent stake in the cement producer.
Dangote Cement has a free float of less than 10 per cent, while Dangote Industries held 86.65 per cent of the company as of December 2025.
The reported purchases surfaced as Dangote Cement shares rose by 10 per cent on Friday.
Nairametrics further reported that the alleged purchases reflect Otedola’s interest in taking positions in companies he considers undervalued.
A source told the publication that the billionaire currently has cash available for investment and sees Dangote Cement as one of such 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 looking to acquire a 5 per cent stake in the company, and suggested that his purchases may have contributed to Friday’s surge in the share price.
However, Nairametrics could not independently verify either the reported purchases or the size of the stake being sought.
The identities of the buyers behind individual stock-market transactions are not routinely made public.
If confirmed, the investment would nonetheless be another purchase of Dangote Cement shares by Otedola, who publicly explained his interest in the company in 2024.
In 2024, Nairametrics reported that Otedola was acquiring Dangote Cement shares when the stock traded at about ₦350 per share.
A statement issued at the time set out 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 tied the investment to support for businesses that contribute to Nigeria’s economic resilience, alongside an emphasis on management and governance.
Those were the reasons given for his earlier acquisition, while the explanation for the latest reported buying comes from sources who spoke to Nairametrics.
Dangote Cement shares closed 10 per cent higher at ₦1,111 on Friday, lifting the company’s market capitalisation to about ₦18.7 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 ₦609 per share and climbed as high as ₦1,180 in June, according to the price history supplied for this report.
It later dropped below ₦900 per share before recovering, with Friday’s closing price taking it back above ₦1,100.
At ₦1,111 per share, the stock closed above both its opening price for the year and the sub-₦900 levels reached during the pullback, while staying below its June high.
The latest gain therefore extends the stock’s recovery from that pullback, alongside the reports of renewed buying by Otedola.
Friday’s 10 per cent advance is confirmed by published trading data, but the claim that his reported purchases drove the increase remains unverified.
