Nigerian Exchange Robust Enough to Drive Industrial Growth—Popoola

By Aduragbemi Omiyale

The chief executive of the Nigerian Exchange (NGX) Group Plc, Mr Temi Popoola, has said the bourse was robust enough to support large-ticket transactions, saying Nigerian investors deployed over N2 trillion into the banking sector through the platform in 2024.

He said Customs Street would be glad to welcome Dangote Fertiliser Limited as it has the infrastructure and liquidity to drive industrial growth.

According to the owner of the fertiliser firm, Mr Aliko Dangote, this business is projected revenues of $20 million daily and $70 billion cumulative earnings potential.

He said the listing of Dangote Fertiliser Limited on the local stock exchange would “offer investors dollar-denominated returns and long-term value.”

For Mr Popoola, this is good for the market, and the NGX is ready to support the imminent listing of Dangote Fertiliser Limited on the platform, a milestone for Nigeria’s industrial and capital market growth.

“In 2024 alone, Nigerian investors deployed over N2 trillion into the banking sector. With Dangote Fertiliser’s listing, we’re poised to replicate this success, providing the infrastructure and liquidity to drive industrial growth,” he said during a high-level tour of Dangote refinery and fertiliser facilities by NGX Group’s board, management, and market stakeholders recently.

Also, the chief executive of the NGX Limited, Mr Jude Chiemeka, said, “This listing will showcase NGX’s ability to attract transformative deals. Our market’s depth, transparency, and investor base ensure seamless execution.”

On his part, the NGX Group Chairman, Mr Umaru Kwairanga, said, “From his leadership at the exchange to this listing, Dangote exemplifies private sector’s role in market development.”