Dangote Petrochemicals is preparing to make a big move on the Nigerian stock market. The company, a spinoff from Dangote Refinery and Petrochemicals, may soon be listed on the Nigerian Exchange (NGX). If approved, the listing could happen before the end of June.

The Chairman of the Nigerian Exchange Group, Dr. Umaru Kwairanga, confirmed that Dangote Petrochemicals has applied for regulatory approval. He said, “Dangote Refinery has already applied for their petrochemical listing, and we are working to ensure their inclusion before the end of the second quarter.”

According to Kwairanga, the listing will bring positive results. It is expected to attract investment, boost market confidence, and help the economy grow. He also said that this move supports President Bola Tinubu’s goal of growing Nigeria’s GDP to $1 trillion by 2030. Key listings like Dangote Petrochemicals and the planned sale of a stake in NNPC Limited are part of this plan.

Kwairanga also spoke about the efforts to improve Nigeria’s financial markets. He mentioned NGX Invest, a digital platform that helps young people learn about and take part in stock market offers. The platform is designed for students, NYSC members, and others new to investing.

He noted that Nigeria’s stock market value is still low. It stands at less than 20% of the country’s GDP. In comparison, South Africa’s stock market is worth more than its GDP. He said that more digital innovation and financial products are needed. These include exchange-traded funds, derivatives, and ethical investments to attract more investors.

Lastly, Kwairanga highlighted the work being done to link African markets. This will allow Nigerian investors to trade shares listed in other African countries like Ghana. He believes this will help create a stronger and more connected financial system across the continent.

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