Economy
Dangote Cement Suspends London Stock Exchange IPO
By Dipo Olowookere
Plans by Dangote Cement Plc to list its shares on the London Stock Exchange (LSE) anytime soon have been suspended, for now, the company has confirmed.
In an emailed response to an enquiry from Bloomberg, the leading cement manufacturer in Africa said the proposed sale of the company’s equities through an initial public offering (IPO) may be considered again from 2023.
But for now, the main focus is on the sale of the firm’s products outside the country so as to improve its foreign exchange (forex) earnings, especially at a time Nigeria is experiencing FX liquidity crisis because of a decline in the price of crude oil.
Dangote Cement is listed on the Nigerian Stock Exchange (NSE) and on Wednesday, shares of the company appreciated by N3.30 or 2.17 per cent to trade at N155.30 each.
The cement firm is owned by the richest man in Africa, Mr Aliko Dangote, who has not hidden his intention to break into Europe and the United States of America.
He has also been reported to be interested in buying a popular football outfit in England, Arsenal Football Club. At the moment, he is building a private crude oil refinery in Lagos with a capacity to refine 650,000 barrels per day and should be completed in the coming months and his concentration is on this.
“The London listing is not something which will happen in the short to medium term,” the head of investor relations at Dangote Cement, Ms Temilade Aduroja, informed Bloomberg, noting that, “We are focused on our export strategy and increasing our foreign-currency revenue.”
Business Post reports that in June, Dangote Cement said in order to increase its foreign earnings, it commenced the export of clinker to some African countries and about 27,800 metric tonnes of the product was specifically taken to Senegal.
In the first six months of 2020, the cement miller recorded a profit after tax of N126.1 billion compared with the N119.2 billion achieved in the first six months of 2019.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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