Dangote Industries completes N200bn bond listing


The N200 billion series 1 and 2 Bonds issued by Dangote Industries have been fully listed on the Nigerian Exchange Limited.

Olakunle Alake, the Chief Executive Officer of Dangote Industries Limited, speaking at the

Once the bond was listed on the Exchange on Wednesday, a closing-gong ceremony was staged to mark the occasion.

Alake, who was represented by the Group’s Chief Finance Officer, Mustapha Ibrahim, said, “We are pleased to have showcased the depth and liquidity of the domestic capital market whilst we reflect the strong quality of the issuer, despite the current global market realities.”

Ibrahim added that a variety of investors, including domestic pension funds, asset managers, and insurance firms, participated in the bond’s listing, further demonstrating investors’ trust in Nigeria’s credit reality.

The listing represents the largest total local currency bond to be issued on the capital market this year.

Speaking at the ceremony, Mr. Jude Chiemeka, Divisional Head of Capital Markets at NGX, praised the listing of the bond for giving corporations the chance to raise funds.