Dangote commends NGX, Pledges to List Dangote Fertiliser on Nigerian Exchange
Aliko Dangote, President and Chief Executive of Dangote Group, has has commended the Nigerian Exchange (NGX) and pledged to list Dangote Fertiliser Limited on the on Nigerian Exchange in a bid to revolutionize the capital market.
Dangote made this announcement during a courtesy visit by capital market stakeholders to the Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited.
Dangote highlighted that the company operates within a dollarised business framework which would alleviate concerns about currency fluctuations for investors, stressing that that the company is working on expanding its fertiliser plants to boost revenue, with a target dividend payment to shareholders exceeding $3 billion.
The company expects to generate $20 million in revenue per day and pay dividends of $3-4 billion.
Dangote maintained that Nigeria cannot attain its $1 trillion economy target without a vibrant stock exchange and affirmed his continued engagement and support for the NGX.
The Group Chairman of NGX Group, Dr. Umaru Kwairanga, lauded Dangote for his substantial contributions to the Nigerian capital market and private sector development.
Kwairanga praised the impact of the Dangote Petroleum Refinery on the Nigerian economy, adding that listing Dangote Fertiliser on the NGX would represent a natural progression in the company’s journey towards transparency, market leadership, and inclusive wealth creation.
The listing of Dangote Fertiliser on the NGX is expected to stimulate the economy and encourage wealth distribution.
The visit marked a significant milestone in the relationship between Dangote Group and the NGX as well as the importance of collaboration between the private sector and the capital market in driving economic growth and development.
Additionally, the listing of Dangote Fertiliser on the NGX is expected to have a positive impact on the Nigerian economy and provide new opportunities for investors.
