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Dangote’s Next Big Move: Fertiliser Company To Hit NGX Soon
Dangote Group’s President, Aliko Dangote, has restated the company’s intention to take Dangote Fertiliser Limited public on the NGX, with a promise to reshape Nigeria’s capital market.....KINDLY READ THE FULL STORY HERE▶
Aliko Dangote, President and CEO of the Dangote Group, reaffirmed the Group’s plan to list Dangote Fertiliser Limited on the Nigerian Exchange (NGX) during a courtesy visit from the NGX Group Chairman, Alhaji (Dr.) Umaru Kwairanga, and other capital market stakeholders at the company’s refinery and fertiliser facilities on Friday.
Addressing concerns about currency depreciation, Dangote assured potential investors that the fertiliser company operates under a dollarised business model, shielding shareholder value from fluctuations in the naira.
“Investors often fear that the naira will lose value before dividends are paid. But with our dollar-based operations, this won’t be an issue,” he said.
He also revealed plans to expand the fertiliser plants, projecting over $20 million in daily revenue within 40 months, and dividend payouts exceeding $3 billion. Dangote emphasized the Group’s philosophy of “thinking big,” aiming for revenue targets above $70 billion.
Additionally, the Group is ramping up investments in the cement sector, with a focus on clinker exports to West African countries to drive earnings and deliver robust returns to shareholders.
Commending NGX’s recent growth, Dangote stressed the need for major corporations—akin to India’s Reliance Industries—to stimulate Nigeria’s economy and support inclusive wealth creation. He noted that the capital market’s vibrancy is essential to achieving Nigeria’s $1 trillion economy ambition.
“A thriving stock exchange is critical. We’ll continue supporting NGX to reach national development goals,” he added.
During a tour of the Dangote Petroleum Refinery and Fertiliser facility, Edwin Devakumar, Vice President of Oil & Gas at Dangote Group, described the 650,000 barrels-per-day refinery as a landmark project achieved through the Group’s internal EPC capabilities—an unprecedented feat globally.
Devakumar said the refinery has not only made Nigeria self-sufficient in petroleum products but is also exporting refined products to various continents.
In his remarks, NGX Group Chairman, Alhaji Kwairanga, applauded Dangote’s longstanding contributions to Nigeria’s capital market, calling for the listing of both the Dangote Refinery and Fertiliser businesses. He noted that such moves would promote transparency, market leadership, and shared prosperity.
Recalling Dangote’s time as President of the Nigerian Stock Exchange Council, Kwairanga praised his visionary leadership and its transformative impact.
“Through the listing of Dangote Cement, Dangote Sugar, and NASCON, the Group has boosted liquidity, investor trust, and long-term shareholder value,” he said.
He added that the visit underscored NGX’s commitment to aligning capital market investment with national development objectives.
Other attendees included NGX CEO Temi Popoola, CSCS MD/CEO Haruna Jalo-Waziri, CIS President Oluropo Dada, ASHON Chairman Sam Onukwe, NGX Regulation CEO Olufemi Shobanjo, and Lagos Commodity Exchange CEO Akeredolu Ali, alongside key market stakeholders.
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