Dangote Commends NGX Group Leadership for Transforming Nigeria’s Bourse
President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, has commended the leadership of Nigerian Exchange Group (NGX Group) for transforming Nigeria’s capital market. He spoke at the Facts Behind the Offer presentation and Opening Gong Ceremony for the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals FZE, held on Monday, September […] The post…
Dangote Industries CEO Aliko Dangote praised Nigerian Exchange Group (NGX) leadership for revolutionizing Nigeria's capital market. At the IPO presentation for Dangote Petroleum Refinery and Petrochemicals FZE on September 14 in Lagos, Dangote recognized NGX Group Chairman Alhaji Umaru Kwairanga and Group Managing Director and CEO Temi Popoola as instrumental in advancing the Exchange's vision of becoming a world-class institution.
Describing Kwairanga and Popoola as "two great guys," Dangote remarked that he never imagined the Exchange would reach this level in 2026. The IPO of Dangote Refinery, marketed as an "IPO for the People," offers 4.1 billion ordinary shares at ₦525 per share, with retail, institutional, and eligible African investors having the chance to own a piece of the refinery.
Expected to raise around ₦2.15 trillion, the offering aims to make the capital market more accessible to Nigerians by connecting it with 100 distribution channels, including stockbrokers, banks, fintechs, and other financial institutions. NGX Group CEO Temi Popoola emphasized that the IPO signifies a significant step forward for the Nigerian capital market, enabling more Nigerians to participate in the growth of major businesses while supporting further capital raises in Nigeria and across the continent.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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