Dangote commends NGX Group leadership for transforming Nigeria’s Bourse

The 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 14, at the Nigerian Exchange in Lagos.

Reflecting on his tenure as President of the Exchange, Dangote recalled inviting stakeholders to support efforts to position it as a world-class institution. He credited NGX Group Chairman, Alhaji Umaru Kwairanga, and Group Managing Director and Chief Executive Officer, Temi Popoola, with advancing that vision.

“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 pair as “two great guys” behind what he called the transformation of the Exchange.

“I never thought this exchange would be at this level in 2026,” he added.

The Dangote Refinery IPO puts that transformation into practice, connecting a major Nigerian enterprise with domestic and international capital while creating opportunities for broader share ownership.

Marketed as an “IPO for the People,” the offer comprises 4.1 billion ordinary shares at N525 per share, with a minimum subscription of 10 shares valued at N5,250. The offer opened on September 14, 2026, and will close on October 13, 2026. Expected to raise approximately N2.15 trillion, it provides retail, institutional and eligible African investors with an opportunity to acquire a stake in the refinery.