In a major boost to Nigeria’s industrial and capital market landscape, the Nigerian Exchange Group (NGX Group) and top capital market operators have reaffirmed their readiness to facilitate the anticipated listing of Dangote Fertiliser Limited—a move poised to mark a watershed moment for Africa’s largest economy.
The commitment was made during a high-level tour of the Dangote Refinery and Fertiliser Complex by the NGX Group board, executive management, and key capital market stakeholders, signaling strong alignment between Nigeria’s private sector giants and the financial ecosystem.
Temi Popoola, Group Managing Director/CEO of NGX Group, highlighted the Exchange’s unmatched capacity to mobilise domestic capital for transformative industrial ventures.
“In 2024 alone, Nigerian investors poured over ₦2 trillion into banking stocks. With Dangote Fertiliser’s listing, we aim to replicate this success, offering the liquidity and infrastructure needed to support large-scale industrial growth,” Popoola stated.
Echoing this, CEO of Nigerian Exchange Limited, Jude Chiemeka, described the planned listing as a clear demonstration of NGX’s ability to attract and execute transformative deals. He pointed to the Exchange’s regulatory strength, market depth, and expansive investor base as key assets for Africa’s most ambitious enterprises.
President/CEO of Dangote Group, Aliko Dangote, outlined the commercial potential of the fertiliser business:
“We are targeting daily revenues of $20 million, with a projected cumulative earning potential of $70 billion. This listing will not only unlock value for investors but also offer dollar-denominated returns—a vital hedge in today’s volatile economic climate.”
Dangote emphasized that the listing aligns with Nigeria’s broader ambition to grow its GDP to $1 trillion, praising NGX for its ongoing role in supporting economic development.
“NGX has always stood as a pillar of industrial and economic transformation. This listing will deepen its impact,” he said.
Chairman of NGX Group, Umaru Kwairanga, commended Alhaji Dangote for his unwavering contributions to capital market development:
“From his early role as a council member of the Exchange to leading Africa’s largest industrial conglomerate, Dangote’s vision continues to drive private sector-led growth and investor confidence.”
The visiting delegation included leaders from the Central Securities Clearing System (CSCS), NGX Regulation, Lagos Commodities and Futures Exchange, the Chartered Institute of Stockbrokers (CIS), and the Association of Securities Dealing Houses of Nigeria (ASHON).
As anticipation builds for what could be one of the NGX’s most significant listings in recent history, the Exchange’s collaborative posture affirms its strategic goal—to serve as the engine of capital formation and inclusive growth in Nigeria’s evolving economy.
