Dangote Petrochemicals to List on NGX, Opening Investment to Nigerians

The Nigerian Exchange Group (NGX) is preparing to welcome Dangote Petrochemicals to its trading floor, with a listing expected in the second quarter of 2025. This move will offer Nigerians the opportunity to invest in one of Africa’s largest industrial ventures and marks a significant step toward deepening capital market participation.

Dangote Petrochemicals, part of the Dangote Group, oversees the $20 billion Dangote Refinery—the world’s largest single-train facility with a refining capacity of 650,000 barrels per day. The anticipated listing is expected to contribute significantly to expanding Nigeria’s market capitalisation and aligning with the government’s broader economic goals.

NGX Chairman Umaru Kwairanga, in a statement, highlighted the importance of such listings in driving economic transformation. He linked the refinery’s move to President Bola Tinubu’s vision of growing Nigeria’s GDP to $1 trillion by 2030, noting that robust listings from the oil and gas sector are central to achieving this target.

Kwairanga confirmed that Dangote has already submitted the application to list its petrochemical operations and added that the exchange is working diligently to complete the process by the end of Q2 2025. He emphasized that capital markets must play a greater role in infrastructure development and formal business expansion if Nigeria is to unlock its full economic potential.

Currently, Nigeria’s stock market capitalisation is below 20% of GDP—a sharp contrast with markets like South Africa, where the Johannesburg Stock Exchange surpasses the country’s GDP. To address this, NGX and the Securities and Exchange Commission (SEC) have introduced reforms such as digitised share certificates, faster settlement cycles (T+2), and steps to resolve dividend payout delays to restore investor confidence.

The exchange is also seeking greater youth participation through digital tools. Kwairanga highlighted the launch of NGX Invest, a platform aimed at simplifying public offerings and promoting financial literacy, particularly among students, NYSC members, and young professionals.