The Dangote Group has confirmed plans to list Dangote Fertiliser Limited on the Nigerian Exchange (NGX) as part of an ambitious strategy to expand operations and boost shareholder value.
Chairman and Chief Executive Officer Aliko Dangote disclosed the plans during a visit by key capital market stakeholders to the company’s fertiliser and refinery facilities in Lagos.
The move, he said, aims to address long-standing investor concerns about currency risks while positioning the fertiliser business for sustained dollar revenues.
“The main challenge is that many investors are hesitant, thinking, ‘If I invest my naira now, by the time I receive dividends in ten years, the naira will have lost value,’” Dangote said. “However, we are entering the market with a dollarised business model.”
Dangote Fertiliser is already ramping up capacity to reach a projected daily revenue of $20 million within 40 months.
The company’s growth target exceeds $70 billion in revenue with dividend payouts projected between $3 billion and $4 billion as operations scale up.
“Our philosophy is to always think big,” Dangote stated, adding that the listing would “revolutionise the capital market” by deepening investor participation and enhancing market liquidity.
The Group’s Vice President of Oil & Gas, Edwin Devakumar, described the ongoing expansion as critical to Nigeria’s self-sufficiency goals.
He praised the group’s record of delivering large-scale projects, citing the 650,000-barrel-per-day refinery as an example of its engineering and project execution capability.
Nigerian Exchange Group Chairman Alhaji Umaru Kwairanga, who led the stakeholder delegation, described the planned listing of Dangote Fertiliser and Dangote Petroleum Refinery as “a natural progression” for the group.
He applauded Dangote’s past contributions, including listings of Dangote Cement, Dangote Sugar Refinery and NASCON Allied Industries, which have strengthened market liquidity and improved investor confidence.
Dangote underscored that Nigeria’s ambition to build a $1 trillion economy hinges on a vibrant capital market, comparing the vision to India’s Reliance Industries.
