Hot Source* Says listing of refinery, Dangote Fertiliser, natural next step
Ndubuisi Francis in Abuja
The Nigerian Exchange Group (NGX) has described Dangote Refinery as a monumental achievement, a symbol of Nigerian enterprise, resilience, ambition and embodies the promise of enhanced energy security, industrial growth, job creation and strengthened global competitiveness for the economy.
NGX Chairman, Dr. Umaru Kwairanga, stated this when he led a delegation of the capital market community on a tour to the refinery complex in Lagos.
According to him, while celebrating the remarkable success of the project and other initiatives within the Dangote Group, the nation’s foremost bourse was looking forward with great anticipation to the potential listing of both Dangote Refinery and Dangote Fertiliser on NGX.
Such listings, he stated, would mark a natural next step in the Dangote Group’s journey of transparency, market leadership and inclusive wealth creation.
They would also provide investors with additional opportunities to participate in national assets that generate lasting economic value, Kwairanga added.
His address read: “I am honoured to extend our heartfelt appreciation to Alhaji Aliko Dangote, GCON, and the entire Dangote Group for warmly hosting us at this truly remarkable facility, the Dangote Refinery.
“Today’s visit reflects NGX Group’s continued commitment to fostering deeper engagement between the capital market and the key drivers of Nigeria’s industrial and economic transformation.
“The Dangote Refinery stands as a monumental achievement, a symbol of Nigerian enterprise, resilience and ambition. It embodies the promise of enhanced energy security, industrial growth, job creation and strengthened global competitiveness for our economy.
“I would like to particularly commend Alhaji Aliko Dangote for his enduring contributions to the development of the Nigerian capital market. As many of us know, Alhaji Dangote served with distinction as President of Council of the Nigerian Stock Exchange, where his vision, leadership and steadfast belief in the power of capital markets helped lay the foundation for the progress we celebrate today.”
He stressed that in addition to Aliko Dangote’s personal leadership, the industrialist had, through the Dangote Group, demonstrated exemplary corporate citizenship within the market ecosystem.
“With the listing of Dangote Cement Plc, Dangote Sugar Refinery Plc, and NASCON Allied Industries Plc on NGX, the Group has significantly deepened market liquidity, enhanced investor confidence, and driven long-term value creation for shareholders.
“This visit offers more than a tour of an industrial complex. It is a moment of collective reflection on the power of private sector innovation, local capacity building, and the pivotal role of capital markets in financing transformative projects.
“With a refining capacity of 650,000 barrels per day, the Dangote Refinery is the largest single-train refinery in the world. Its operations promise to reduce Nigeria’s dependence on imported refined petroleum products, conserve foreign exchange, generate employment, and position our nation as a net exporter of refined products.
“To all capital market stakeholders here present, your presence underscores our shared commitment to strengthening the bridge between investment capital and national development.
“As we celebrate the remarkable success of this project and other initiatives within the Dangote Group, we look forward with great anticipation to the potential listing of both Dangote Refinery and Dangote Fertilizer on NGX.
“Such listings would mark a natural next step in the Group’s journey of transparency, market leadership, and inclusive wealth creation. They would also provide investors with additional opportunities to participate in national assets that generate lasting economic value.
“At NGX Group, we remain dedicated to creating platforms that mobilise capital for enterprises like this and platforms that power ambition, unlock innovation and deliver sustainable impact.
“We will continue working closely with issuers, regulators and market participants to build a capital market that is deep, vibrant, inclusive and globally competitive.
“Once again, we extend our profound gratitude to Alhaji Aliko Dangote and the Dangote Group for their hospitality, vision, and steadfast investment in Nigeria’s future.
“You inspire us all to think big, act boldly and believe in the limitless promise of our great nation,” Kwairanga said.
