Alhaji Aliko Dangote, Africa's wealthiest person and the driving force behind the Dangote Group, has unveiled significant plans set to reshape Nigeria's capital market.
In a move poised to deepen local investment and foster economic growth across the continent, Dangote announced the impending listing of Dangote Fertiliser on the Nigerian capital market before the close of 2025. This will be followed by the highly anticipated listing of the Dangote Refinery on the Nigerian Stock Exchange (NGX) in 2026.
Speaking at the ongoing Afreximbank Annual Meetings in Abuja, Dangote passionately advocated for harnessing African capital within Africa. He voiced strong disapproval of capital flight, a phenomenon where wealth generated on the continent is moved to other regions, hindering local development.
"Africa has been held back because those who have capital — legally or even illegally earned — take it away to other continents," Dangote stated. "We must begin to invest our resources here to drive the growth and development Africa needs." He drew parallels with Asian economies, highlighting how their remarkable economic ascendance was significantly fueled by sustained domestic capital investment.
Beyond financial markets, Dangote also issued a compelling call to action for African political leaders. He urged them to implement decisive policies to curb the export of raw minerals, advocating instead for local processing to add value and generate employment within the continent. This strategic shift, he believes, is crucial for fostering industrialization and creating sustainable economic opportunities.
The forthcoming listings of Dangote Fertiliser and the Dangote Refinery are expected to mark a new chapter for the Nigerian capital market. These moves will not only open up avenues for public participation in some of Africa's most substantial industrial undertakings but are also anticipated to significantly strengthen the Nigerian Stock Exchange, attracting further investment and confidence in the region's economic potential.