Dangote Refinery to List on NGX with Major Advisors

Dangote Refinery is preparing for a landmark listing on the Nigerian Exchange (NGX) with the guidance of Stanbic IBTC Capital, a member of the Standard Bank Group, alongside Vetiva Capital Management. The listing is anticipated to occur within four to five months and will involve a 10% stake of the $20 billion refinery.

Alhaji Aliko Dangote disclosed this during a tour of the refinery, emphasizing the potential to unlock significant domestic and foreign investor interest. The refinery aims to reshape the valuation dynamics of the NGX.

Additionally, discussions are ongoing regarding market regulations to facilitate future dividend payouts in US dollars, which would hedge against currency volatility. The Chief Operating Officer of Investdata Consult Ltd, Ambros Omordion, noted the critical roles these advisory firms will play in ensuring the listing becomes a reality.

Furthermore, Dangote Cement, a subsidiary of Dangote Industries Limited, has signed a landmark agreement with Sinoma International Engineering for 12 new projects across Africa, reinforcing the company's growth strategy aligned with its vision for 2030.