Aliko Dangote, the founder of the Dangote Group, has promised to list his Dangote Refinery on the Nigerian Stock Exchange. He also promised to list every single company that would be created by Dangote Group of companies.
Dangote stated this on Monday in Lagos during a bell ringing ceremony at the Nigerian Stock Exchange as part of activities to mark his 60th birthday. He said he would ensure the listing of more of his companies on the NSE to deepen the market. Dangote said that the group plans to significantly expand its operations across Nigeria within the next 10 years in a move that would result in an increase of shareholders across the group’s companies to over 2 million.
“My dream in the next 10 years is to hold our Annual General Meetings, AGMs, in the stadium not halls, due to the large shareholders we will be targeting. This means we are going to increase our investment in the Nigerian capital market,” he said. Dangote assured the stock broking community that he would continue to work with the Federal Government to diversify the economy and spread prosperity among Nigerians.
Four companies in the Dangote conglomerate are listed on the Nigerian Stock Exchange with a combined market capitalization of $11 billion, accounting for 32.7% of the total capitalization of the equities listed on the Nigerian bourse. Aliko Dangote is Africa’s richest man with a fortune FORBES estimates at $12.3 billion.