Dangote Refinery, others to be listed on Stock Exchange

Africa’s richest man and Nigerian billionaire, Alhaji Aliko Dangote on Monday celebrated his 60th birthday with a promise to list all his companies on the stock market.

Dangote is building a petroleum refinery and petrochemical industry in Lagos among other large projects in the agricultural sector.

Dangote said that in the next 10 years, companies in the Dangote Group would have grown to the extent that they will have to be holding their annual general meeting in a stadium.

“What we are building today is more than 100 times bigger than what we have now. This is what we are seeing in the next 10 years,” Dangote said.

He assured that he would continue to work to diversify the economy in order to spread prosperity to Nigerians.

“We will list every single company that we created between now to the end of my life,” Dangote said.

He commended the stockbroking community for their contributions to the Dangote Group.

Dangote has four companies listed on the Nigerian Stock Exchange (NSE) including Dangote Cement, Dangote Sugar Refinery, Dangote Flour Mills and Nascon Allied Industries.

The four companies altogether accounted for N2.923 trillion at the close of the market on Monday, representing one-third of the N8.87 trillion total market capitalisation of quoted equities.

Dangote Cement is the largest listed company with market value of N2.805 trillion, 31.6 per cent of total equities value of N8.867 trillion.

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