By Rotimi Asher, Lagos
Chairman of the Nigerian Exchange ,NGX, Group Plc, Mr Umaru Kwairanga, has expressed optimism about the listing of the $20 billion Dangote Refinery and the Nigerian National Petroleum Company Limited ,NNPCL, on the bourse before the end of 2025.
He gave this assurance during the 64th Annual General Meeting ,AGM, of the exchange in Lagos a few days ago.
Mr Kwairanga, projected a confident vision of strategic repositioning and market expansion of the exchange with plans to list heavyweights like Dangote Refinery and NNPCL before the end of this year.
He revealed the NGX Group’s active pursuit of large-ticket listings to transform the bourse’s stature, citing strategic engagements with both the Dangote Group and the state oil company.
AljazirahNigeria recalls that Mr Kwairanga has always been an advocate of listing these two companies on the bourse and has always spoken highly and confidently in close and public circles.
Recently, the NNPCL announced that it had begun plans for its Initial Public Offering ,IPO, after years of delay.
“Even if it’s 20% or 30%, let a part of NNPC be listed. This is the platform of transparency and innovation. It is time to democratise wealth and allow the Nigerian public to benefit from our national assets”, the NGX chairman said.
He underscored the Group’s commitment to deepening market offering and credibility, boosting investor confidence, and aligning with President Bola Tinubu’s $1 trillion economy target.
“We will not shy away from taking the right decisions”, Mr Kwairanga stated resolutely, adding that, “Where organisations no longer deliver value, we will act decisively even if that means delisting. We must protect our integrity as Africa’s premier stock exchange”.
Mr Kwairanga emphasized the Exchange’s alignment with the current administration’s economic reforms.
“No other institution has keyed into Tinubu’s economic agenda like NGX has. Our ambition is to double the gains from the ongoing banking recapitalisation and deliver on major listings that will redefine the capital market”.
“We have the capacity. We have the people. We have your support. By year-end, you will witness a transformation led by landmark listings and strategic reforms. NGX is not just keeping pace—we are setting the pace”, he added.
NGX Group had announced a record 157.3% year-on-year growth in profit before tax ,PBT, reaching N13.6 billion for the financial year ended December 31, 2024.
According to its audited financial statement, gross earnings soared by 103.2% to N24.0 billion, powered by a diversified surge in revenue channels: transaction fees climbed 64%, listing fees skyrocketed by 397.1%, and market data revenue doubled by 100.5%.
Other standout contributors include a 105% rise in technology-related income and a 174.8% increase in other fees, affirming NGX Group’s strategic pivot toward innovation, digitalisation, and sustainable value creation.
