The Group Chairman of Nigeri-an Exchange Group (NGX Group), Alhaji (Dr.) Umaru Kwairanga, has praised the President/Chief Executive, Dangote Group, Aliko Dangote, for his substantial con-tributions to the Nigerian capital market and private sector devel-opment.
He noted this during a courtesy visit to the Dangote Petroleum Re-finery & Petrochemicals and Dan-gote Fertiliser Limited by capital market stakeholders.
Kwairanga, who called for the listing of Dangote Petroleum Re-finery and Dangote Fertiliser on the NGX, stated that it would rep-resent a natural progression in the Dangote Group’s journey towards transparency, market leadership, and inclusive wealth creation.
Noting that the Nigerian cap-ital market takes great pride in Dangote and his contributions to the economy, he commended the impact of the Dangote Petro-leum Refinery on the Nigerian economy, stressing that the var-ious initiatives introduced have provided much-needed relief to Nigerians.
Kwairanga recalled Dangote’s tenure as President of the Council of the Nigerian Stock Exchange, describing him as a visionary whose leadership shaped the capi-tal market landscape.
“Through the listing of compa-nies 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 stated.
The chairman emphasised that the visit was more than a tour; it was a reaffirmation of the NGX’s commitment to aligning invest-ment capital with national devel-opment goals.
The President/Chief Executive of the Dangote Group, Aliko Dan-gote, reaffirmed that the Group will soon list the Dangote Fertiliser Limited on the Nigerian Exchange (NGX), with the aim of revolution-ising the capital market.
He assured shareholders that those investing in Dangote Fer-tiliser Limited would not need to worry about the value of the local currency, as the company oper-ates within a dollarised business framework.
“So, what are we aiming to do to bring about a major revolution in the capital market? The main challenge is that many investors are hesitant, thinking, ‘If I invest my naira now, by the time I receive dividends in ten years, the naira will have lost value.’ However, we are entering the market with a dollarised business model,” he explained.
Dangote further disclosed that the company is working on expanding its fertiliser plants to boost revenue, with a target div-idend payment to shareholders exceeding $3 billion.
“In the next 40 months, our fer-tiliser business should generate $20 million in revenue per day. We are pushing hard. We expect to reach over $70 billion in revenue and pos-sibly pay dividends of $3–4 billion. Our philosophy is to always think big,” he said.