{"id":12209,"date":"2017-04-11T01:27:10","date_gmt":"2017-04-11T00:27:10","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=12209"},"modified":"2017-04-11T01:27:10","modified_gmt":"2017-04-11T00:27:10","slug":"dangote-assures-listing-of-refinery-petrochemical-firms-on-nse","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/dangote-assures-listing-of-refinery-petrochemical-firms-on-nse\/","title":{"rendered":"Dangote assures listing of Refinery, Petrochemical firms on NSE"},"content":{"rendered":"

The past President of the Nigerian Stock Exchange, Alhaji Aliko Dangote, on Monday, promised the listing of companies under the Dangote Group of companies on the nation\u2019s bourse.<\/p>\n

The companies include Refinery and Petrochemical.<\/p>\n

Dangote stated this at the bell ringing ceremony on the NSE in Lagos as part of activities to mark his 60th birthday.<\/p>\n

He said that he would ensure the listing of more of his companies on the NSE to deepen the market.<\/p>\n

Dangote assured the stock broking community that he would continue to work with the Federal Government to diversify the economy and spread prosperity among Nigerians.<\/p>\n

\u201cWe will continue work with the federal government to diversify the economy and spread prosperity to Nigerians,\u2019\u2019 he said.<\/p>\n

He promised to list every single company that would be created by Dangote Group of companies.<\/p>\n

\u201cVery soon, we will start having our Annual General Meetings (AGM) in stadium, not halls due to the large shareholders we will be targeting. We will be having up to two million shareholders in the next ten years,\u201d he said.<\/p>\n

He, however, commended the stock broking community for their support to Dangote Group, noting that they had contributed to the growth of the entity.<\/p>\n

The four companies of Dangote listed on the NSE have a total market capitalisation of N2.9 trillion as at April 10.<\/p>\n

This represents 32.7 percent of the total capitalisation of the equities listed on the Nigerian bourse.<\/p>\n

Alhaji Rasheed Yussuf, the former President, Association of Stockbroking Houses of Nigeria described Dangote as an important stakeholder in the Nigerian capital market.<\/p>

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\u201cHis decision to celebrate his birthday with the capital market community is a testimony to the mutually beneficial relationship to which has been involved over the years between Dangote, brokers and capital market in generally,\u201d Yussuf said.<\/p>\n

He said that the tenure of Dangote as the president of NSE was the most challenging period for the capital market due to serious management succession crisis and ravaging margin loan crisis.<\/p>\n

\u201cDangote worked tirelessly with ASHON, leveraging on his contacts to make presentation to the various level of government functionality, CBN, among others.<\/p>\n

\u201cThis culminated in the setting up of Asset Management Company of Nigeria and eventual resolution of the margin loan problems,\u201d he added.<\/p>\n

He noted further that if the margin loan crisis had not been resolved the way it was, the collateral damage on the operators and the market would have been enormous.<\/p>\n

Yussuf added that as a strong promoter of local content development in Nigeria, Dangote took the pioneering step of listing most of his companies on the floor of NSE, substantially deepening the market.<\/p>\n

Yussuf said that the listed companies of Dangote constituted a reasonable percentage of equities on the nation\u2019s bourse.<\/p>\n

NAN<\/p>\n

Photo caption:<\/p>\n

From left; Femi Otedola CON, Chairman, Forte Oil Plc; Abimbola Ogunbanjo, First Vice President, The Nigerian Stock Exchange (NSE); Oscar Onyema, Chief Executive Officer, NSE; Abubakar Balarabe Mahmoud, SAN, Second Vice President\u200b, NSE; Mariya Aliko Dangote, Daughter; Halima Aliko Dangote, Daughter; Alhaji Aliko Dangote, Ex-officio, NSE; Fatima Aliko Dangote, Daughter; Mr. Aigboje Aig-Imoukhuede, President, NSE; Jim Ovia, Chairman, Zenith Bank Plc and Herbert Wigwe, CEO, Access Bank Plc at the Dangote @ 60 Closing Gong Ceremony at the Exchange on Monday.<\/p>\n","protected":false},"excerpt":{"rendered":"

The past President of the Nigerian Stock Exchange, Alhaji Aliko Dangote, on Monday, promised the listing of companies under the Dangote Group of companies on the nation\u2019s bourse. The companies include Refinery and Petrochemical. Dangote stated this at the bell ringing ceremony on the NSE in Lagos as part of activities to mark his 60th …<\/p>\n","protected":false},"author":11,"featured_media":12210,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23],"tags":[],"coauthors":[2392,2393],"class_list":["post-12209","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business"],"yoast_head":"\nDangote assures listing of Refinery, Petrochemical firms on NSE - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/dangote-assures-listing-of-refinery-petrochemical-firms-on-nse\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dangote assures listing of Refinery, Petrochemical firms on NSE - National Wire\" \/>\n<meta property=\"og:description\" content=\"The past President of the Nigerian Stock Exchange, Alhaji Aliko Dangote, on Monday, promised the listing of companies under the Dangote Group of companies on the nation\u2019s bourse. 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