Finally, Dangote set to list on Nigerian Exchange, NGX gives timeline

• Major enterprises specified arsenic the Dangote Refinery volition beryllium listed connected the section speech by the extremity of 2025, according to the NGX
• In an effort to rise the bourse's reputation, the NGX Group's president revealed the company's vigorous pursuit of high-profile listings.
• He reiterated the Group's committedness to increasing its estimation and assisting President Bola Tinubu successful achieving his $1 trillion economical objective

Legit.ng writer Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

In a landmark announcement for Nigeria's superior market, the Nigerian Exchange Group (NGX) Plc said yesterday that it would database large companies similar the Dangote Refinery connected the section speech by the extremity of 2025.

The NGX Group reported that its nett earlier taxation (PBT) accrued by a grounds 157.3 percent twelvemonth implicit twelvemonth to N13.6 billion. Photo Credit: Dangote Group
Source: UGC

Speaking to shareholders astatine the 64th Annual General Meeting of the NGX Group successful Lagos, Alhaji Dr. Umaru Kwairanga, the Chairman of the NGX Group, confidently stated that Dangote Refinery is anticipated to database connected the Exchange by the extremity of this twelvemonth and presented a imaginativeness of strategical repositioning and marketplace expansion.

Citing strategical partnerships with the Dangote Group and the NNPC, helium disclosed the NGX Group's assertive pursuit of high-profile listings successful an effort to elevate the bourse's profile.

“Even if it’s 20per cent oregon 30per cent, fto a portion of NNPC beryllium listed. This is the level of transparency and innovation. It is clip to democratise wealthiness and let the Nigerian nationalist to payment from our nationalist assets.”

He reaffirmed the Group's dedication to expanding its marketplace scope and reputation, enhancing capitalist trust, and supporting President Bola Tinubu's $1 trillion economical goal.

“We volition not shy distant from taking the close decisions,” Kwairanga stated resolutely. “Where organisations nary longer present value, we volition enactment decisively—even if that means delisting. We indispensable support our integrity arsenic Africa’s premier banal exchange.”Kwairanga emphasized the Exchange’s alignment with the existent administration’s economical reforms, stating, “No different instauration has keyed into Tinubu’s economical docket similar NGX has. Our ambition is to treble the gains from the ongoing banking recapitalisation and present connected large listings that volition redefine the superior market.”

Kwairanga added,

“We person the capacity. We person the people. We person your support. By year-end, you volition witnesser a translation led by landmark listings and strategical reforms. NGX is not conscionable keeping pace—we are mounting the pace.”

He pointed retired that by the extremity of 2025, the marketplace value, which is presently implicit N65 trillion, is anticipated to person doubled owed to the listing of cardinal heavyweights.

The NGX Group reported that its nett earlier taxation (PBT) accrued by a grounds 157.3 percent twelvemonth implicit twelvemonth to N13.6 cardinal for the fiscal twelvemonth that concluded connected December 31, 2024. Its audited fiscal connection shows that its gross net accrued by 103.2 percent to N24.0 billion, driven by a divers spike successful gross sources, including a 64% summation successful transaction fees, a 397.1% summation successful listing fees, and a 100.5% summation successful marketplace information revenue.

A 105% maturation successful technology-related gross and a 174.8 percent summation successful different fees are 2 different noteworthy factors that enactment NGX Group's strategical displacement toward innovation, digitalization, and semipermanent worth generation.

The Chairman of NGX Group disclosed the NGX Group's assertive pursuit of high-profile listings successful an effort to elevate the bourse's profile. Photo Credit: NGX
Source: Getty Images

The Board authorized a last dividend of N4.4 billion, oregon N2.00 per share, successful appreciation of this historical accomplishment. This is the largest payout successful the Group's history.

“These results people a pivotal infinitesimal successful NGX Group’s post-demutualisation journey,” said Kwairanga. “They reenforce capitalist assurance and our unwavering resoluteness to present value. Our strategy is built not conscionable connected numbers, but connected transforming this marketplace into an motor of prosperity.”

Nigerian investors retrieve immoderate monies arsenic banal reverse earlier loss

Legit.ng reported that Tuesday, April 8, was a affirmative time for Nigerian investors arsenic the Nigerian Exchange Limited (NGX) ended the trading time with N100.45 cardinal gains.

The week started with some planetary and Nigerian stocks reacting to President Donald Trump’s import tariff increase.

Investors successful the NGX mislaid astir N658.23 cardinal to adjacent the Monday trading time with a marketplace capitalisation of N65.49 trillion.

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Source: Legit.ng