*Aliko Dangote, President/Chief Executive, Dangote Group, says listing of Dangote Fertiliser will revolutionise the Nigerian Capital market

Alexander Davis | 绿帽献妻

Alhaji (Dr.) Umaru Kwairanga, Group Chairman of Nigerian Exchange Group (NGX Group), has applauded Aliko Dangote, President/Chief Executive, Dangote Group, for his substantial contributions to the Nigerian capital market and private sector development.

Dr. Kwairanga said this during the capital market stakeholders’ courtesy visit to the Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited, in Lagos.

He advocated the listing of Dangote Petroleum Refinery and Dangote Fertiliser on the NGX.

The Chairman of NGX Group also stated that it would represent a natural progression in the Dangote Group鈥檚 journey towards transparency, market leadership, and inclusive wealth creation.

Noting that the Nigerian capital market takes great pride in Dangote and his contributions to the economy, he commended the impact of the Dangote Petroleum Refinery on the Nigerian economy, stressing that the various initiatives introduced have provided much-needed relief to Nigerians.

Kwairanga recalled Dangote鈥檚 tenure as President of the Council of the Nigerian Stock Exchange, describing him as a visionary whose leadership shaped the capital market landscape.

He further noted: 鈥淭hrough the listing of companies, such as Dangote Cement Plc, Dangote Sugar Refinery Plc, and NASCON Allied Industries Plc, the Group has significantly deepened market liquidity, boosted investor confidence, and driven long-term value creation for shareholders.”

The Chairman emphasised that the visit to Dangote’s was more than a tour; it was a reaffirmation of the NGX鈥檚 commitment to aligning investment capital with national development goals.

Speaking during the visit,

Dangote, President/ Chief Executive of the Group, reaffirmed that the Group will soon list the Dangote Fertiliser Limited on the Nigerian Exchange (NGX), with the aim of revolutionising the capital market.

He assured shareholders that those investing in Dangote Fertiliser Limited would not need to worry about the value of the local currency, as the company operates within a dollarised business framework.

Dangote averred: 鈥淪o, what are we aiming to do to bring about a major revolution in the capital market?

“The main challenge is that many investors are hesitant, thinking, 鈥業f I invest my Naira now, by the time I receive dividends in ten years, the naira will have lost value.鈥� ”

He, however, said “we are entering the market with a dollarised business model.”

Dangote further disclosed that the company is working on expanding its fertiliser plants to boost revenue, with a target dividend payment to shareholders exceeding $3 billion.

The foremost industrialist stated: 鈥淚n the next 40 months, our fertiliser business should generate $20 million in revenue per day.

“We are pushing hard.

“We expect to reach over $70 billion in revenue and possibly pay dividends of $3鈥�4 billion.

“Our philosophy is to always think big.”

He noted the Group is also strengthening its cement business by investing in new plants and targeting clinker exports to West African countries, which will boost revenue and provide better dividends for shareholders.

Praising the recent progress of the NGX, Dangote stressed that Nigeria needs companies like Reliance Industries Limited, which once held its Annual General Meetings in a stadium. Such companies, he noted, would stimulate the economy and encourage wealth distribution.

Emphasising that Nigeria cannot attain its $1 trillion economy target without a vibrant stock exchange, Dangote affirmed his continued engagement and support for the NGX, acknowledging its crucial role.

The Vice-President of Oil & Gas at Dangote Group, Edwin Devakumar, who led the delegation on a tour of the facilities, described the construction of the 650,000-barrel-per-day refinery as a monumental achievement that demanded immense courage, vision, and determination.

He noted that the Group acted as its own Engineering, Procurement, and Construction (EPC) contractor for the refinery鈥攁 feat never before attempted at this scale.

He also stressed that the refinery has ensured Nigeria is no longer reliant on imports to meet its petroleum needs and is now exporting refined products to various continents worldwide.

Also present were the CEO of NGX, Temi Popoola; Managing Director/CEO of Central Securities Clearing System Plc (CSCS), Haruna Jalo-Waziri; CIS President, Oluropo Dada; ASHON Chairman, Sam Onukwe; CEO of NGX Regulation, Olufemi Shobanjo; CEO of Lagos Commodity Exchange, Akeredolu Ali; and other major stakeholders.

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