Nigeria’s richest man, Aliko Dangote set to list company on NGX

• Aliko Dangote is preparing to instrumentality Dangote Fertiliser Limited nationalist connected the Nigerian Exchange, with a imaginable valuation of implicit $3 billion
• The fertiliser plant, already Africa's largest, is portion of a broader extremity to trim Africa's reliance connected imports and boost section industry.
• If successful, the listing could pull much investment, summation production, and fortify Nigeria's export capacity

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

The richest antheral successful Africa, Aliko Dangote, is preparing to instrumentality Dangote Fertiliser Limited public, 1 of his astir ambitious businesses.

The institution is acceptable to debut connected the Nigerian Exchange (NGX), perchance valuing it astatine implicit $3 billion.

Dangote fertiliser works is already the largest of its benignant successful Africa. Photo Credit: Dangote Group
Source: UGC

This offering could drastically reshape the concern and cultivation scenery of the nation.

The fertiliser works is already the largest of its benignant successful Africa, covering 500 hectares successful Ibeju Lekki, Lagos. However, marketplace size and terms aren’t the lone factors astatine play here. It’s portion of a broader extremity Dangote has been softly pursuing for years: reducing Africa's dependence connected imports and reviving section industry.

The nonsubjective involves lowering section costs, enabling blends to beryllium tailored for assorted ungraded types, and unlocking export opportunities crossed the region.

This larger extremity extends beyond expanding production; it besides aims to assistance Nigeria go self-sufficient and adjacent proviso its neighbours by reducing the nation's dense reliance connected imports.

The $3 cardinal valuation, according to Bloomberg, is based connected a exemplary that assumes the works is operating astatine conscionable 50% capacity. This suggests important untapped potential. Investors are already taking notice. If the listing is successful, it could pull further backing to ramp up production, heighten distribution, and grow exports beyond Africa.

Dangote has stated that the timing is strategic. In a caller interview, helium explained a phased rollout of nationalist listings crossed the group.

“Yes, definitely. That’s the close happening to do. We program to commencement this twelvemonth with the fertilizer business, past determination connected to the refinery.” The strategy is to statesman with the astir unchangeable and profitable limb of his empire and physique from there.

For years, companies similar Dangote Fertiliser were prohibited from listing owed to regulatory rules, particularly if they were inactive successful operational testing. However, with enactment from the president, the Securities and Exchange Commission recently amended the regulations to alteration that.

Dangote praised the change, calling it indispensable for allowing established concern companies to entree nationalist markets, according to a Billionaire.Africa report.

“We’ll instrumentality it 1 measurement astatine a time,” helium said. “Fertilizer is nary tiny concern either. Our extremity is to go the largest fertilizer institution successful the satellite wrong 4 years, possibly adjacent sooner, surpassing Qatar.”

Dangote explained a phased rollout of nationalist listings crossed the group. Photo Credit: Contributor
Source: Getty Images

While this is an ambitious goal, it could person a important impact. Increasing non-oil exports has ne'er been much critical, as Nigeria's overseas speech reserves are nether pressure. Dangote Fertilizer, which already exports to South America, Europe, and West Africa, is expected to make implicit $400 cardinal successful overseas speech annually.

Listing connected the NGX could further rise this fig by unlocking superior for faster expansion, stronger proviso chains, and much robust exports.

Dangote announces cement, seaport projects successful Ogun

Legit.ng reported that Aliko Dangote, President and Chief Executive of Dangote Industries Ltd has announced the company's return to large improvement projects successful Ogun State.

Speaking during a sojourn to the ongoing operation tract of a 6 cardinal metric tons per annum cement mill astatine Itori successful Ewekoro Local Government Area.

Dangote besides revealed plans to physique the largest seaport task successful Ogun Waterside Local Government Area of the state.

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Source: Legit.ng