NGX and Dangote Push for Cross-Border Refinery Listings

The Nigerian Exchange Group PLC (NGX) and Dangote are collaborating to accelerate cross-border listings of shares for the Dangote Refinery, following a closed-door meeting in Lagos on March 31, 2026. This initiative is part of a broader effort to deepen capital market integration across Africa.

The meeting involved chief executives and senior representatives from major African exchanges, alongside NGX leadership, including Temi Popoola and Chairman Alhaji Dr. Umaru Kwairanga. Alhaji Dr. Umaru Kwairanga emphasized the importance of providing investors with insights into the refinery ahead of its planned public offer.

Aliko Dangote was praised for his visionary approach to reducing Africa's reliance on imported petroleum products. The discussions included exploring opportunities for capital market expansion and creating efficient pathways for issuers to raise capital across multiple African markets.

The anticipated public offer is expected to take place in the second quarter of 2026, potentially boosting Nigeria's capital market and supporting foreign exchange earnings.