Nigerian Exchange Praises Dangote’s Economic Impact, Calls for Refinery Listing.
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Nigerian Exchange Praises Dangote’s Economic Impact, Calls for Refinery Listing.
Dr. Umaru Kwairanga, Chairman of the Nigerian Exchange Group (NGX), has praised billionaire industrialist Aliko Dangote for his significant role in the Nigerian capital market and private secto
r growth. The commendation came during a visit by capital market stakeholders to the Dangote Petroleum Refinery and Dangote Fertiliser facilities in Lagos.
Kwairanga encouraged Dangote to list both the refinery and fertiliser businesses on the Nigerian Exchange, calling it a vital next step in boosting transparency and inclusive economic growth. He noted that such a listing would deepen market participation and align with Dangote Group’s track record of market leadership.
He also highlighted Dangote’s lasting influence from his time as President of the Nigerian Stock Exchange Council, during which the group listed major companies like Dangote Cement, Dangote Sugar Refinery, and NASCON Allied Industries. These listings, Kwairanga said, enhanced market liquidity and investor confidence while creating long-term value.
“This visit is more than a courtesy it reaffirms our shared goal of channeling investment into national development,” he said.
Dangote: Fertiliser Listing Coming Soon
In response, Aliko Dangote confirmed plans to list Dangote Fertiliser Limited on the Exchange, promising a transformative effect on the capital market. He assured investors that the company’s dollar-based operations would safeguard their investments from the naira’s depreciation.
He explained that many local investors fear currency devaluation might reduce the value of future dividends. However, the company’s business model, which earns revenue in dollars, offers a hedge against currency risk.
Looking ahead, Dangote revealed plans to scale up fertiliser production, targeting over \$20 million in daily revenue within the next 40 months. He also expects shareholder dividends to reach between \$3 billion and \$4 billion, with total revenue potentially surpassing \$70 billion.
“Our vision is bold. We aim to transform the market and provide meaningful returns to our investors,” he said.
Additionally, he noted ongoing efforts to expand the group’s cement operations and increase clinker exports to West Africa, which would further improve revenues and shareholder returns.
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Faith Kegh
Content & Editorial Manager - Leads the creation, review, and publication of high-quality news and media content. She ensures that all editorial work reflects the organization’s standards of accuracy, professionalism, and relevance, while also engaging and informing the audience.
As the key driver of TokinPoint Media LTD's editorial voice, the manager oversees content planning, assigns tasks to writers or editors, enforces deadlines, and ensures consistency across all platforms. She also plays a strategic role in aligning content with audience interests and search engine optimization (SEO) best practices.