Dangote Petrochemicals Sets for Listing on Nigerian Stock Exchange

Dangote Petrochemicals, a spin-off from Dangote Refinery and Petrochemicals, is preparing to list on the Nigerian stock exchange (NGX) before the end of June, potentially opening up new investment opportunities for the public.

This development was confirmed by the Chairman of the Nigerian Exchange Group, who revealed that the company has applied for regulatory approval and is on track to be listed in the coming weeks. The listing is expected to attract significant investment, boost market capitalization, and enhance the performance of the Nigerian stock market.

By bringing one of Africa’s largest petrochemical firms into the capital market, the listing is anticipated to strengthen investor confidence and stimulate growth across the Nigerian financial ecosystem.

This move aligns with President Bola Tinubu’s broader economic strategy, which targets a $1 trillion GDP by 2030. According to the NGX chairman, strategic listings like Dangote Petrochemicals and the proposed partial sale of NNPC Limited’s stake are essential components of achieving that economic milestone.

He acknowledged that Nigeria’s stock market remains under-leveraged, with capitalization below 20 percent of GDP, compared to South Africa’s Johannesburg Stock Exchange, which surpasses its national GDP. Expanding stock market participation, he said, is key to unlocking infrastructure growth and formalizing more Nigerian businesses.

To support this vision, NGX has launched “NGX Invest,” a digital platform aimed at simplifying public offers and promoting financial literacy, particularly among young Nigerians, including students and National Youth Service Corps members.

The exchange is also engaging institutional investors like pension fund administrators and mutual funds to deepen market liquidity. In addition, NGX is developing sophisticated financial instruments such as exchange-traded funds, derivatives, and ethical investment options to attract diverse investor interests.

Efforts are also underway to integrate African capital markets, allowing Nigerian investors to trade shares listed in other countries like Ghana. This cross-border initiative is expected to build a stronger, more interconnected financial ecosystem across the continent.