Dangote IPO Will Deepen Capital Market, Drive Growth — Aig-Imoukhuede

 Aigboje Aig-Imoukhuede, Chairman of Coronation Group, says the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE will deepen Nigeria's capital market and support broader economic growth.

In a statement issued on Tuesday following the Opening Gong Ceremony and "Facts Behind the Offer" presentation at the Nigerian Exchange (NGX), Aig-Imoukhuede described the IPO as a landmark moment for both Nigeria and Africa's capital market, noting that it demonstrates the market's capacity to mobilise capital for large-scale productive enterprises.

According to him, the offer will broaden participation in wealth creation by giving Nigerians and other investors the opportunity to own stakes in a major African industrial enterprise — underscoring the capital market's wider role in economic development beyond simply financing businesses. He said the Dangote initiative illustrates how capital markets can support the growth of national and continental economies alike.

"Aliko Dangote has consistently championed a capital market where Nigerian companies could grow while the prosperity created by African businesses is shared more broadly," Aig-Imoukhuede said. "Vision attracts capital, governance preserves capital, and talent and execution compounds capital."

Sanwo-Olu: A Demonstration That "Africa Can Finance Africa"

Lagos State Governor Babajide Sanwo-Olu, also quoted in the statement, described the offer as a significant development for both Nigeria and the wider continent. "The IPO demonstrates Africa's growing capacity to mobilise and deploy capital for its own economic 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," he said.

Dangote: "We Want to Share Prosperity More Broadly"

The statement further quoted Alhaji Aliko Dangote, President and Chief Executive Officer of Dangote Industries Ltd, as saying the offer would widen participation in Nigeria's capital market and enable more Nigerian and African investors to share in the value created by leading African businesses. "We want to share prosperity more broadly with our people. That is the ideal we are working towards," he said, adding that he remains committed to the transformation and democratisation of the Nigerian Exchange.

Dangote commended Aig-Imoukhuede's contributions toward making the capital market more accessible to ordinary citizens. "The offer provides investors and members of the public with an opportunity to participate in the growth of the Dangote Petroleum Refinery and Petrochemicals FZE. The development is also expected to strengthen the ability of Nigeria's capital market to attract domestic and international investment into productive sectors of the economy. It could encourage more Nigerian businesses to access the capital market, creating additional avenues for financing expansion, investment and job creation," he said.

The statement noted that the opening of the IPO highlights the growing role of Nigerian investors in financing major enterprises and supporting the country's long-term economic transformation. It further advised prospective investors to carefully study the offer documents, understand the applicable terms and risks, and thoroughly assess the investment before subscribing.