Details emerge as Dangote refinery plans to sell shares to Nigerians

• Dangote Petrochemicals, 1 of the companies nether the Dangote Group, is readying to database connected the Nigerian Exchange
• The determination has been hailed by the president of the Nigerian Exchange Group (NGX) arsenic it volition boost marketplace capitalisation
• The Dangote refinery is the $20 cardinal largest single-train refinery successful the world, with a capableness of 650,000 barrels per day

Legit.ng writer Dave Ibemere has implicit a decennary of business journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends. (edited)

The Nigerian Exchange Group (NGX) is actively preparing for the listing of Dangote Petrochemicals, with the people acceptable for the 2nd 4th of 2025.

Africa's richest antheral is said to person applied to database the institution publicly, giving Nigerians a accidental to go part-owners done investments.

Dangote Petrochemicals plans listing connected NGX Photo credit: NGX
Source: Getty Images

Nigerians to bargain Dangote refinery shares

Umaru Kwairanga, NGX Chairman, successful a connection connected Friday, June 6, said that the anticipated listing aligns with President Bola Tinubu’s economical agenda, which aims to grow Nigeria’s Gross Domestic Product (GDP) to $1 trillion by 2030.

According to Kwairanga, cardinal listings successful the lipid and state sector, specified arsenic the planned sale of a involvement in the Nigerian National Petroleum Company Limited and Dangote Petrochemicals, volition play a captious relation successful achieving this goal.

Speaking further connected the expected interaction of Dangote Petrochemicals’ listing, Kwairanga expressed NGX’s committedness to facilitating maturation and concern successful Nigeria’s fiscal markets.

Kwairanga stated:

“Dangote Refinery has already applied for their petrochemical listing, and we are moving to guarantee their inclusion earlier the extremity of the 2nd quarter.”

He besides pointed retired the strategical value of a robust capital market, stressing that accrued marketplace information tin thrust semipermanent infrastructure development, amended concern formalisation, and bespeak Nigeria’s existent economical potential.

However, Kwairanga expressed interest that Nigeria’s banal marketplace capitalisation remains beneath 20% of its GDP, whereas South Africa’s Johannesburg Stock Exchange exceeds its nationalist GDP.

Dangote refinery listing to boost Nigeria's banal marketplace cap Photo credit: Nurphoto
Source: Getty Images

NGX wants much younker information

To code these disparities, NGX Group, successful collaboration with the Securities and Exchange Commission (SEC), has initiated measures to amended marketplace transparency and efficiency.

These see the dematerialisation of stock certificates to alteration seamless physics transactions, the solution of unpaid dividend backlogs to reconstruct capitalist confidence, and the simplification of clearing clip for secondary marketplace transactions to T+2 to amended liquidity.

Kwairanga affirmed:

“We are moving intimately with regulators and stakeholders to heighten marketplace accessibility and attractiveness."

Kwairanga further stressed the relation of integer innovation successful expanding marketplace participation, citing the motorboat of NGX Invest, a integer platform designed to simplify superior marketplace offers and grow fiscal literacy, peculiarly among students, youths, and members of the National Youth Service Corps (NYSC), Leadership reports.

NNPC plans to database shares

Earlier, Legit.ng reported that NNPC Ltd. has previously announced plans for an IPO, including successful 2018 and 2023, but those efforts did not materialise owed to marketplace conditions and interior restructuring challenges.

The company, which became a commercialized entity successful 2022 nether the Petroleum Industry Act (PIA), is required to database its shares successful enactment with the Companies and Allied Matters Act (CAMA) 1990.

Analysts accidental NNPC Ltd. indispensable fortify its fiscal presumption to pull investors by improving transparency, reducing debt, and maintaining affirmative currency flow.

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Source: Legit.ng