Dangote hails NGX Group leadership over capital market transformation - Punch Newspapers
President/CEO of Dangote Industries Limited, Aliko Dangote; NGX Group Chairman, Umaru Kwairanga, and Group Managing Director and Chief Executive Officer, Temi Popoola, on the NGX. Credit: NGX
The President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, has commended the leadership of the Nigerian Exchange Group for transforming the nation’s capital market into a world-class trading hub. Dangote, who gave the commendation recently at the Exchange in Lagos, reflected on his tenure as a former President of the Exchange, recalling rallying stakeholders to build a globally competitive market institution. He attributed the realisation of that ambition to the foresight of the NGX Group Chairman, Alhaji Umaru Kwairanga, and the Group Managing Director/Chief Executive Officer, Temi Popoola. “I must thank the Exchange, led by its Group Chairman, Kwairanga, who I think I must thank for not disappointing us. And we have the very capable Temi Popoola, a truly exceptional and level-headed leader,” Dangote said, describing the duo as the driving force behind the market’s evolution. He added, “I never thought this exchange would be at this level in 2026”, Dangote said. The ongoing Dangote Refinery IPO underscores the modernisation of the market, offering retail, institutional, and eligible African investors a direct stake in one of the continent’s largest industrial ventures. Marketed as an ‘IPO for the People,’ the enterprise is offering 4.1 billion ordinary shares at N525 per share, with a minimum entry threshold of 10 shares valued at N5,250. The public offer, which opened on 14 September, 2026, and is scheduled to close on 13 October, 2026, aims to raise approximately N2.15tn. FCMB backs Dangote refinery IPO, targets wider participation Nigerians should own shares in Dangote refinery — Sanusi Don’t sell your house to buy Dangote shares, Emir Sanusi tells investors Speaking on the strategic significance of the transaction, Popoola noted that the offer highlights the expanding capacity of Nigeria’s financial ecosystem to connect critical businesses with broader domestic ownership. He explained that NGX Group had spent the past three years developing digital infrastructure to democratize market participation. According to Popoola, the group’s digital primary offer platform, NGX Invest, currently integrates over 100 distribution channels across stockbroking firms, commercial banks, fintech platforms, and financial intermediaries via API technology. He emphasised that the group remains committed to fortifying market infrastructure to support further large-scale equity raises across Nigeria and the broader African continent. Jide Ajia Jide, a seasoned journalist with over 12-year experience, reports business-related stories
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