The Nigerian Exchange Group (NGX Group) and key capital market stakeholders have expressed strong support for the planned listing of Dangote Fertiliser Limited on the Nigerian Exchange, in what is expected to be a landmark move for the nation’s capital market.
The development follows a recent strategic visit by the board and management of NGX Group—alongside stakeholders from across the capital market—to the Dangote refinery and fertiliser facilities located in Lagos.
Temi Popoola, Group Managing Director and Chief Executive Officer of NGX Group, said the Exchange is well-positioned to mobilise significant capital for large-scale industrial projects.
“In 2024 alone, Nigerian investors deployed over ₦2 trillion into the banking sector,” Popoola said.
“With Dangote Fertiliser’s listing, we’re poised to replicate that success—providing the infrastructure and liquidity needed to drive long-term industrial growth.”
Echoing this sentiment, Chief Executive Officer of Nigerian Exchange Limited, Jude Chiemeka, said the listing would underscore the Exchange’s capacity to attract major transactions.
“This listing will showcase NGX’s ability to attract transformative deals. Our market’s depth, transparency, and broad investor base make it ideal for such listings,” Chiemeka added.
President of the Dangote Group, Aliko Dangote, affirmed the fertiliser business’s robust growth outlook. He revealed that the company is projected to generate $20 million in daily revenue, with long-term earnings potential estimated at $70 billion.
“With projected revenues of $20 million per day and cumulative earnings of up to $70 billion, this listing will deliver dollar-denominated returns for investors and align with Nigeria’s broader economic growth strategy,” Dangote said.
The listing is also expected to bolster investor confidence in the Nigerian capital market and attract more foreign and domestic participation.
Chairman of NGX Group, Umaru Kwairanga, commended Dangote for his consistent contributions to the capital market, noting his longstanding support for the growth and development of the Nigerian Exchange.
The NGX delegation included the chief executives of the Central Securities Clearing System (CSCS), NGX Regulation, and Lagos Commodities and Futures Exchange, alongside representatives from the Chartered Institute of Stockbrokers and the Association of Securities Dealing Houses of Nigeria.
The proposed listing is being viewed as a game-changer for the industrial and capital market landscape, with expectations that it will further position Nigeria as an investment hub in Africa.
