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Chairman of Coronation Group, Aigboje Aig-Imoukhuede CFR, has described the launch of the Dangote Petroleum Refinery and Petrochemicals FZE Initial Public Offering (IPO) on the Nigerian Exchange (NGX) as a landmark moment for Nigeria and Africa’s capital markets, highlighting the role of capital markets in financing enterprise, broadening participation in wealth creation and supporting economic growth across the continent.
Speaking at the Opening Gong Ceremony and Facts Behind the Offer Presentation at the NGX, Aig-Imoukhuede said Aliko Dangote’s longstanding vision for Nigeria’s capital markets had helped bring the market to this defining moment.
“Vision attracts capital, governance preserves capital, and talent and execution compound capital. Those three principles are vividly demonstrated in the life and enterprise of Alhaji Aliko Dangote,” he said.
Aig-Imoukhuede noted that Dangote had demonstrated the wider purpose of capital markets: not simply as a source of financing for businesses, but as an important mechanism for economic development and shared prosperity.
“Alhaji Aliko Dangote, you have consistently championed a vision in which Nigerian issuers come of age, our capital market comes of age, and the prosperity created by African businesses can be shared more broadly with our people,” Aig-Imoukhuede said. “More importantly, you have demonstrated how capital markets can support the growth of national and continental economies.”
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The Governor of Lagos State, His Excellency Babajide Sanwo-Olu, described the offer as a significant moment for the continent and a demonstration of Africa’s capacity to mobilise capital for its own development. “Today, we are witnessing a company that is changing the landscape of what is possible in Africa. We are demonstrating once again that Africa can finance and invest in Africa,” the Governor said.
For the President and Chief Executive of Dangote Industries Limited, Alhaji Aliko Dangote GCON, the offer represents an important step towards widening participation in Nigeria’s capital market and enabling more Nigerians and African investors to share in the value created by leading African enterprises.
“We want to share prosperity more broadly with our people. That is the ideal we are working towards,” Dangote said. “I have been closely involved in the transformation of the Nigerian Exchange, and from the outset, I have believed strongly that we must democratise the market.”
Dangote also acknowledged Aig-Imoukhuede’s contribution to the development and democratisation of Nigeria’s capital market.
“I invited Aigboje to serve as President of the Council of the Exchange, and he was a strong advocate for democratising the market. I had my concerns at the time, but Aigboje, being a bulldozer, kept pushing. Today, we can see the benefits of that vision,” he said.
The offer provides investors and members of the public with an opportunity to participate in the growth of one of Africa’s most significant industrial enterprises. Prospective investors are encouraged to review the offer documents carefully, understand the applicable terms and risks, and assess the investment against their individual objectives before subscribing.
Interested investors may participate through authorised channels during the offer period. Coronation Group, through its capital markets and wealth businesses, is supporting access to the offer alongside other approved stockbrokers, issuing houses and financial intermediaries.
The launch underscores the growing capacity of Nigeria’s capital markets to mobilise domestic and international capital for productive investment, while enabling African businesses and investors to play a greater role in financing the continent’s long-term economic transformation.
