Aliko Dangote’s sugar empire posts $133 million revenue in Q1 2025

Key Points

• Dangote Sugar’s revenue surged 74.31% to $133.21 million in Q1 2025, driven by strong demand for 50kg sugar bags across commercial and retail channels.
• Net loss narrowed sharply to $14.72 million from $42.97 million a year earlier, supported by higher sales, tighter cost controls, and strong regional performance.
• Northern Nigeria led growth with a 114.88% sales jump, while Lagos retained the largest share, buoyed by expanded distribution and resilient consumer demand.

Dangote Sugar Refinery, a leading integrated sugar business majority-owned by Nigerian billionaire Aliko Dangote, saw revenue surge 74.31 percent to N213.9 billion ($133.21 million) in the first quarter of 2025 fiscal year, from N122.73 billion ($76.41 million) a year earlier. The strong performance expands its lead as Nigeria’s top food conglomerate. 

The group’s revenue was primarily fueled by the sale of 50kg sugar bags, which accounted for about 97 percent of total earnings. Revenue from this segment rose sharply by 77.41 percent to N207.46 billion ($129.14 million) in the first quarter of 2025, up from N116.94 billion ($72.8 million) in the prior quarter. The jump underscores sustained demand across commercial and retail customers, despite broader inflationary pressures and logistics challenges.

Losses eased on solid segment-driven revenue growth

The company’s recently published financial results revealed that Dangote Sugar narrowed its net loss to N23.65 billion ($14.72 million) in Q1 2025 from N68.99 billion ($42.97 million) a year earlier, driven by robust top-line growth, tighter cost controls, and sustained demand for its core product line.

Regionally, the Lagos market—which represents the largest revenue share at about 52 percent—led performance gains. Revenue in the area climbed 51.84 percent to N110.76 billion ($68.96 million), compared to N72.94 billion ($45.42 million) a year earlier, buoyed by strong distribution network expansion and resilient consumer demand.

The Northern region, contributing 38 percent of total revenue, delivered the most pronounced growth. Sales surged 114.88 percent to N82.07 billion ($51.1 million), up from N38.19 billion ($23.78 million), reflecting intensified sales penetration and growing industrial usage.

Western Nigeria, which makes up 7.5 percent of revenue, saw sales nearly double—rising 91.81 percent to N16 billion ($9.96 million) from N8.34 billion ($5.2 million). The Eastern region, while accounting for just 2.4 percent of total sales, posted a solid 57.14 percent increase to N5.10 billion ($3.18 million), up from N3.25 billion ($2.02 million) in the prior year.

Dangote Sugar maintains lead as Nigeria’s top producer

Dangote Sugar Refinery, a key unit of the diversified Dangote Group, remains Nigeria’s largest sugar producer with a refining capacity of 1.44 million metric tonnes. Majority-owned by Africa’s richest man with a net worth of $23.3 billion, Aliko Dangote—whose $201 million stake represents 68 percent ownership—the company continues to dominate the market.

As of March 31, 2025, total assets edged down 0.52 percent to N1.045 trillion ($650.91 million) from N1.05 trillion ($654.24 million) at the end of 2024. Over the same period, accumulated losses widened to N149.35 billion ($92.98 million), up from N125.72 billion ($78.26 million).

Despite macroeconomic headwinds and currency volatility, Dangote Sugar’s strong revenue growth signals a gradual recovery. Its expansive footprint and entrenched market leadership continue to underpin resilience and drive regional performance gains.