The Nigerian capital market is abuzz with anticipation for the prospective listing of Dangote Fertiliser Limited on the Nigerian Exchange (NGX). This landmark event has garnered enthusiastic support from key stakeholders, including the NGX Group, regulatory bodies, and prominent market players. A recent visit by a high-level delegation to the Dangote refinery and fertiliser facilities in Lagos underscores the significance of this impending listing and the collaborative effort to ensure its success. The delegation, comprising leadership from the NGX Group, regulatory entities, and other market participants, highlights the collective commitment towards facilitating a smooth transition for Dangote Fertiliser into the public market. This collaborative approach aims to leverage the expertise and resources of various stakeholders to create an enabling environment for the listing, ultimately benefiting the company, investors, and the Nigerian economy as a whole.
The potential listing is not merely a corporate action; it represents a strategic opportunity to unlock significant capital and propel industrial growth within Nigeria. Temi Popoola, Group Managing Director and Chief Executive Officer of NGX Group, emphasized the Exchange’s capacity to mobilize substantial financial resources, citing the impressive N2 trillion invested by Nigerian investors in the banking sector in 2024 alone. He expressed confidence that the listing of Dangote Fertiliser will replicate this success, providing the necessary infrastructure and liquidity to fuel expansion within the industrial sector. This injection of capital, facilitated by the listing, is expected to stimulate economic activity, create employment opportunities, and contribute to overall national development.
The listing is also poised to enhance the visibility and reputation of the NGX on the global stage. Jude Chiemeka, Chief Executive Officer of Nigerian Exchange Limited, highlighted the significance of the listing in showcasing the Exchange’s ability to attract transformative transactions. He underscored the market’s depth, transparency, and robust investor base as key factors that will ensure seamless execution of the listing process. The successful listing of Dangote Fertiliser, a prominent player in the agricultural sector, will serve as a testament to the NGX’s growing stature and its ability to facilitate large-scale, complex transactions, attracting both domestic and international investors.
Aliko Dangote, President of the Dangote Group, articulated the compelling investment proposition offered by Dangote Fertiliser. He projected daily revenues of $20 million and a long-term earning potential of $70 billion, emphasizing that the listing will provide investors with dollar-denominated returns and long-term value. Furthermore, he highlighted the alignment of the listing with Nigeria’s broader economic growth plans, emphasizing the company’s contribution to national development. This projection not only underscores the financial strength of Dangote Fertiliser but also positions it as a driver of economic progress, offering investors an opportunity to participate in the growth trajectory of both the company and the Nigerian economy.
The anticipated listing enjoys the strong endorsement of Umaru Kwairanga, Chairman of NGX Group, who acknowledged Dangote’s consistent contribution to the capital market and his instrumental role in supporting the development of the Exchange. This endorsement reinforces the strategic importance of the listing and highlights the long-standing relationship between Dangote Group and the NGX. It further emphasizes the collaborative spirit driving this initiative, demonstrating the shared vision of key stakeholders in strengthening the Nigerian capital market.
The broad-based support for the listing, evident in the composition of the delegation that visited the Dangote facilities, underscores the collaborative nature of this endeavor. The delegation included chief executives from key market infrastructure institutions such as the Central Securities Clearing System (CSCS), NGX Regulation, and the Lagos Commodities and Futures Exchange (LCFE). Furthermore, representatives from professional bodies like the Chartered Institute of Stockbrokers (CIS) and the Association of Securities Dealing Houses of Nigeria (ASHON) were also present, signifying the collective commitment of the entire capital market ecosystem to the successful listing of Dangote Fertiliser. This collaborative approach ensures a comprehensive and well-coordinated process, maximizing the benefits for all stakeholders involved.
