TV INTERVIEW ON THE DANGOTE REFINERY IPO AT THE FINTECH MONEY 20/20 MIDDLE EAST AT RIYADH INTERNATIONAL CONFERENCE CENTRE IN SAUDI ARABIA ON WEDNESDAY 16th SEPTEMBER 2026.

 

By Umar Umb | Insight Tribune News

RIYADH, SAUDI ARABIA – September 16, 2026

The Chairman of NGX Group, Alhaji (Dr.) Umaru Kwairanga, has described the proposed Initial Public Offering (IPO) of the Dangote Petroleum Refinery as a landmark development that underscores the growing strength, ambition and global relevance of Nigeria’s capital market.

Speaking during a television interview at the Fintech Money 20/20 Middle East Conference held at the Riyadh International Conference Centre in Saudi Arabia, Dr. Kwairanga said the Dangote Refinery IPO sends a powerful message to global investors that Nigeria possesses a capital market capable of supporting world-class businesses and attracting long-term investment.

According to him, the significance of the offer extends far beyond its size, as it demonstrates that large-scale enterprises can successfully utilize Nigeria’s public market to raise capital, broaden ownership and provide investment opportunities for both institutional and retail investors.

“The Dangote Petroleum Refinery IPO is a strong signal of confidence in Nigeria’s capital market. It shows that businesses of significant scale can access long-term capital through the public market while giving Nigerians and international investors the opportunity to participate in their growth journey,” he stated.

Dr. Kwairanga noted that Nigeria’s market infrastructure has undergone significant improvements, including the transition to T+1 settlement, extended trading hours and the country's scheduled return to the FTSE Russell Frontier Market Index on September 21, 2026.

Expanding Access for Everyday Investors

Addressing efforts to make major listings accessible to ordinary Nigerians, the NGX Chairman highlighted the role of NGX Invest and the broader digital ecosystem in simplifying participation in public offers.

He explained that investors can now subscribe to public offers through stockbrokers, banks and approved digital platforms, making investment opportunities more accessible than ever before.

“Our objective is not only to bring major companies to the market but also to ensure that ordinary Nigerians can participate in the wealth and opportunities those companies create,” he said.

Dr. Kwairanga emphasized that broadening ownership remains a key priority, particularly among young Nigerians and first-time investors seeking to participate in the nation’s economic growth.

Strengthening Nigeria–Gulf Investment Relations

Speaking on the prospects of attracting more Gulf investors to the Nigerian Exchange, Dr. Kwairanga identified sectors such as financial services, telecommunications, energy, infrastructure and industrial development as areas offering significant opportunities.

He noted that international investors typically seek accessibility, liquidity, regulatory certainty and efficient movement of capital before committing resources to any market.

He added that Nigeria has made substantial progress in improving foreign exchange liquidity, market accessibility and trading efficiency, while the FTSE Russell reclassification serves as further validation of these improvements.

“The opportunity before us is to build a stronger Nigeria–Gulf investment corridor that connects substantial pools of Gulf capital with credible Nigerian businesses and investment opportunities,” he remarked.

According to him, NGX Group is actively working to strengthen relationships with sovereign wealth funds, asset managers, family offices and institutional investors across the Gulf region to facilitate increased investment flows into Nigeria.

Protecting Investors in the Digital Age

With more investors accessing financial markets through mobile devices, Dr. Kwairanga stressed the importance of maintaining investor confidence through strong regulation, transparency and education.

He explained that NGX Regulation (NGX RegCo) provides independent oversight of market activities, including surveillance, enforcement of rules and mechanisms for addressing investor complaints.

“Technology can make investing easier, but trust remains the foundation of every successful capital market. Access and protection must grow together,” he stated.

He further emphasized the importance of investor education, particularly for first-time participants, encouraging Nigerians to use regulated channels and make informed investment decisions.

A Positive Outlook for Nigeria’s Capital Market

Dr. Kwairanga concluded that the Dangote Refinery IPO represents more than a major corporate transaction; it symbolizes the increasing maturity, resilience and international competitiveness of Nigeria’s capital market.

Industry observers at the conference noted that the listing could potentially become one of the most significant transactions in Africa’s capital market history, while also opening a new chapter for broader participation in Nigeria’s economic growth story.

As Nigeria prepares for its return to the FTSE Russell Frontier Market Index and continues implementing market reforms, the country appears increasingly positioned to attract both domestic and international investment on a larger scale.

— Insight Tribune News