The Group Chairman of the Nigerian Exchange Group (NGX), Dr. Umaru Kwairanga, has commended Aliko Dangote, President and Chief Executive of the Dangote Group, for his significant contributions to the Nigerian capital market and the broader economy.
Kwairanga made the remarks on Thursday during a courtesy visit by capital market stakeholders to the Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited in Lagos.
He urged the listing of Dangote Petroleum Refinery and Dangote Fertiliser on the Nigerian Exchange, describing it as a vital step in enhancing transparency, reinforcing the group’s market leadership, and promoting inclusive wealth creation in the country.
Kwairanga praised the impact of the Dangote Petroleum Refinery on Nigeria’s economy and described Dangote as a visionary leader whose past role as President of the Nigerian Stock Exchange Council helped shape the capital market.
“Through 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,” he said.
He added that the visit was not just a facility tour but a reaffirmation of NGX’s commitment to aligning investment capital with national development objectives.
In his response, Aliko Dangote revealed plans to soon list Dangote Fertiliser Limited on the Nigerian Exchange, saying the move would help transform the capital market. He assured potential investors that the business operates in a dollarised framework, insulating it from the volatility of the naira.
He said, “What are we aiming to do to bring about a major revolution in the capital market? Many investors hesitate because they fear their naira investments will lose value over time. But we are coming into the market with a dollarised business model.”
Dangote disclosed that expansion efforts are underway at the fertiliser plants, targeting daily revenues of $20 million within 40 months. He projected that shareholders could receive up to $4 billion in dividends, as the company aims for $70 billion in revenue.
“Our philosophy is to always think big,” he said.
The industrialist also revealed plans to strengthen the cement division of the group by building new plants and boosting clinker exports to West African countries, which would increase revenue and improve dividends for shareholders.
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