Dangote Petrochemicals is set to hit the Nigerian Exchange by Q2 2025, opening doors for public investment.
Experts say the move could transform Nigeria’s capital market and boost economic growth.
In a significant move set to boost Nigeria’s capital market, Dangote Petrochemicals, a subsidiary of the Dangote Group, is preparing to list on the Nigerian Exchange (NGX) by the second quarter of 2025. The development has been hailed by Umaru Kwairanga, Chairman of NGX Group, as a major step toward strengthening investor participation and economic expansion.
Kwairanga confirmed that the application to list has already been submitted by the Dangote Refinery, one of the largest single-train refineries in the world, with a capacity of 650,000 barrels per day and a construction value of $20 billion. Once listed, Nigerians will have the opportunity to become shareholders in one of Africa’s most ambitious industrial ventures.
Speaking on the anticipated listing, Kwairanga said it aligns closely with President Bola Tinubu’s economic vision to grow Nigeria’s Gross Domestic Product (GDP) to $1 trillion by 2030. He added that strategic listings from key sectors, such as oil and gas, including Dangote Petrochemicals and the Nigerian National Petroleum Company Limited (NNPC), will be instrumental in realising this goal.
Highlighting the potential impact, Kwairanga said the NGX is working tirelessly with regulators to facilitate the listing process. “We are determined to see Dangote Petrochemicals listed before the second quarter ends,” he stated.
Kwairanga also pointed out that Nigeria’s market capitalisation is still below 20% of GDP, compared to South Africa’s Johannesburg Stock Exchange, which surpasses its GDP. He noted that initiatives are underway to improve market efficiency and participation, including dematerialising share certificates, resolving unpaid dividends, and reducing trade settlement periods to enhance liquidity.
The NGX has also introduced NGX Invest, a digital platform designed to simplify public offerings and encourage participation from young Nigerians, especially students and NYSC members, through financial literacy campaigns.
Meanwhile, NNPC’s long-standing plan to list on the NGX has resurfaced. Although past IPO efforts in 2018 and 2023 failed due to market and structural constraints, the company’s transition to a commercial entity under the Petroleum Industry Act (PIA) has reignited hopes for a successful listing. Analysts say greater transparency, reduced debt, and improved cash flow will be critical to attracting investor confidence.
As Dangote Petrochemicals gears up for the public market, analysts say this could be a game-changer for Nigeria’s investment landscape and a major step toward building a more inclusive economy.
