Dangote to List 10% Refinery Stake on NGX, Pay Dividends in US Dollars
Aliko Dangote, during the unveiling of Dangote Industries' Vision 2030, announced the intention to list a 10% stake of its $20 billion refinery on the Nigerian Exchange by 2026. The company is in discussions with regulators for future dividend payouts in US Dollars to mitigate currency challenges.
Dangote emphasized the need for regulatory steps to be taken for the IPO. The move aligns with the broader expansion roadmap of the Dangote Group, following the launch of the Aliko Dangote Foundation's N100 billion annual education scholarship program.
The dividend payments in dollars aim to support the project's export earnings and provide a consistent supply of hard currency.
Plus234Feed summary based on reporting from NairaMetrics. Read the original report below.
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