Good News for Investors as Nigerian Exchange Speaks on Listing Dangote, Gives Timeline
- Major enterprises such as the Dangote Refinery will be listed on the local exchange by the end of 2025, according to the NGX
- In an attempt to raise the bourse's reputation, the NGX Group's chairman revealed the company's vigorous pursuit of high-profile listings.
- He reiterated the Group's commitment to growing its reputation and assisting President Bola Tinubu in achieving his $1 trillion economic objective
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Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
In a landmark announcement for Nigeria's capital market, the Nigerian Exchange Group (NGX) Plc said yesterday that it would list major companies like the Dangote Refinery on the local exchange by the end of 2025.
Source: UGC
Speaking to shareholders at the 64th Annual General Meeting of the NGX Group in Lagos, Alhaji Dr. Umaru Kwairanga, the Chairman of the NGX Group, confidently stated that Dangote Refinery is anticipated to list on the Exchange by the end of this year and presented a vision of strategic repositioning and market expansion.
Citing strategic partnerships with the Dangote Group and the NNPC, he disclosed the NGX Group's aggressive pursuit of high-profile listings in an effort to elevate the bourse's profile.
“Even if it’s 20per cent or 30per cent, let a part of NNPC be listed. This is the platform of transparency and innovation. It is time to democratise wealth and allow the Nigerian public to benefit from our national assets.”
He reaffirmed the Group's dedication to expanding its market reach and reputation, enhancing investor trust, and supporting President Bola Tinubu's $1 trillion economic goal.
“We will not shy away from taking the right decisions,” Kwairanga stated resolutely. “Where organisations no longer deliver value, we will act decisively—even if that means delisting. We must protect our integrity as Africa’s premier stock exchange.”
Kwairanga emphasized the Exchange’s alignment with the current administration’s economic reforms, stating,
“No other institution has keyed into Tinubu’s economic agenda like NGX has. Our ambition is to double the gains from the ongoing banking recapitalisation and deliver on major listings that will redefine the capital market.”
Kwairanga added,
“We have the capacity. We have the people. We have your support. By year-end, you will witness a transformation led by landmark listings and strategic reforms. NGX is not just keeping pace—we are setting the pace.”
He pointed out that by the end of 2025, the market value, which is currently over N65 trillion, is anticipated to have doubled due to the listing of key heavyweights.
The NGX Group reported that its profit before tax (PBT) increased by a record 157.3 percent year over year to N13.6 billion for the fiscal year that concluded on December 31, 2024. Its audited financial statement shows that its gross earnings increased by 103.2 percent to N24.0 billion, driven by a diverse spike in revenue sources, including a 64% increase in transaction fees, a 397.1% increase in listing fees, and a 100.5% increase in market data revenue.
A 105% growth in technology-related revenue and a 174.8 percent increase in other fees are two other noteworthy factors that support NGX Group's strategic shift toward innovation, digitalization, and long-term value generation.
Source: Getty Images
The Board authorized a final dividend of N4.4 billion, or N2.00 per share, in appreciation of this historic accomplishment. This is the largest payout in the Group's history.
“These results mark a pivotal moment in NGX Group’s post-demutualisation journey,” said Kwairanga.
“They reinforce investor confidence and our unwavering resolve to deliver value. Our strategy is built not just on numbers, but on transforming this market into an engine of prosperity.”
Nigerian investors recover some monies as stock reverse earlier loss
Legit.ng reported that Tuesday, April 8, was a positive day for Nigerian investors as the Nigerian Exchange Limited (NGX) ended the trading day with N100.45 billion gains.
The week started with both global and Nigerian stocks reacting to President Donald Trump’s import tariff increase.
Investors in the NGX lost about N658.23 billion to close the Monday trading day with a market capitalisation of N65.49 trillion.
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Source: Legit.ng
