NGX, Dr. Umaru Kwairanga lauds Dangote’s economic impact
Aliko Dangote
NGX, Dr. Umaru Kwairanga lauds Dangote’s economic impact
The Group Chairman of Nigerian Exchange Group, Dr. Umaru Kwairanga, has commended the President/Chief Executive of Dangote Group, Aliko Dangote, for his impact to both the Nigerian capital market and the broader private sector.
Kwairanga made his remarks during a courtesy visit by capital market stakeholders on Thursday to the Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited, Lagos.
He called for the listing of Dangote Petroleum Refinery and Dangote Fertiliser on the Nigerian Exchange.
Kwairanga declared that such a move would be a crucial and inevitable progression in the Dangote Group’s relentless pursuit of transparency, its unwavering market leadership, and its commitment to fostering inclusive wealth creation across the nation.
Saying that the Nigerian capital market takes great pride in Dangote and his contributions to the economy, he commended the impact of the Dangote Petroleum Refinery on the Nigerian economy, stressing that the various 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 capital market landscape.
“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 stated.
The chairman emphasised that the visit was more than a tour; it was a reaffirmation of the NGX’s commitment to aligning investment capital with national development goals.
The President/ Chief Executive of the Dangote Group, Aliko Dangote, reaffirmed that the group will soon list Dangote Fertiliser Limited on the Nigerian Exchange to revolutionise the capital market.
He assured shareholders that those investing in Dangote Fertiliser Limited would not need to worry about the value of the local currency, as the company operates 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 10 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 dividend payment to shareholders exceeding $3bn.
“In the next 40 months, our fertiliser business should generate $20 million in revenue per day. We are pushing hard. We expect to reach over $70 billion in revenue and possibly pay dividends of $3–4 billion. Our philosophy is to always think big,” he said.
He added that the Group is also strengthening its cement business by investing in new plants and targeting clinker exports to West African countries, which will boost revenue and provide better dividends for shareholders.
