The Chief Executive Officer of Nigerian Exchange Group, Temi Popoola, says the initial public offering of Dangote Refinery could increase Nigeria’s active investor base fivefold.
Popoola said that the 1.6-billion-dollar offering could attract millions of retail investors into the Nigerian capital market.
He explained that the initiative was designed to broaden public participation in the investment sector and provide more Nigerians with opportunities to invest in the country’s petroleum industry.
According to him, the exchange is exploring accessible investment channels, including WhatsApp and basic mobile phones, to reach people who may not traditionally participate in the stock market.
Popoola noted that only a small proportion of Nigerians currently participate in the capital market, highlighting the potential for significant expansion through the offering.
He added that the initiative could strengthen investment relationships between Nigeria and other African markets, including Egypt, Kenya, Botswana and Ethiopia.
The development is expected to attract greater retail investor participation and support efforts to position Nigeria as a major investment destination in Africa.
