NGX Chairman Urges East African Investors to Support Dangote

Alhaji Umaru Kwairanga, the Chairman of the Nigeria Exchange Group (NGX), urged East African investors to adopt the vision of billionaire industrialist Alhaji Aliko Dangote by focusing on locally-sourced capital instead of relying on costly and unstable foreign loans. This statement was made during a high-level investment engagement at the Nairobi Stock Exchange in Kenya.

Kwairanga emphasized the significant transformational impact of the Dangote Refinery in Lagos, Nigeria, and expressed confidence that a similar refinery planned for Kenya would positively affect the entire East African region. He invited East African investors to support this vision, highlighting the importance of local investment for future generations.

Kwairanga also referenced the calls from African leaders, including President William Ruto of Kenya and Nigeria’s President Bola Ahmed Tinubu, for collective efforts to address developmental challenges in Africa, noting that entrepreneurs like Dangote are leading the way in this initiative.