President of Dangote Industries Limited, Aliko Dangote, has announced plans to list the group’s fertiliser business on the Nigerian capital market through an Initial Public Offering (IPO) in 2028, potentially giving more investors an opportunity to own a stake in one of Nigeria’s major industrial businesses. Dangote disclosed the plan during an interview with Bloomberg Television, saying the proposed listing could position the fertiliser business among the largest publicly traded fertiliser companies globally.

The planned Dangote fertiliser IPO 2028 comes as the conglomerate continues to expand its investments across fertiliser, energy and other strategic sectors. The group has maintained a focus on boosting local production, reducing reliance on imports and retaining more economic value within Nigeria and Africa. Dangote Fertiliser operates a major urea production facility within the Dangote complex in Lekki, Lagos, making the business an important player in Nigeria’s agricultural supply chain.

The proposed listing would also add another major Dangote business to the Nigerian Exchange Limited (NGX), at a time when investors are closely watching plans for the potential listing of the Dangote Petroleum Refinery. Dangote said the refinery’s proposed listing is intended not only to raise capital but also to widen public ownership of strategic African assets and allow more investors to participate in the company’s growth. The refinery currently has a reported capacity of 700,000 barrels per day and remains one of the group’s largest industrial investments.

For the Nigerian capital market, the fertiliser IPO could provide an opportunity to increase market capitalisation while giving investors access to another large-scale industrial company. Moses Igbrude, National Coordinator of the Independent Shareholders Association of Nigeria, described the plan as positive for the exchange, saying another Dangote company would deepen the market and increase its capitalisation. He noted that investors would welcome the opportunity to participate in the ownership of the fertiliser business through the NGX.

Patric Igbrude, President of the NewDimension Shareholders Association of Nigeria, also welcomed the proposed listing, pointing to the investor interest attracted by Dangote’s existing listed companies. He said the momentum surrounding the proposed refinery listing could potentially extend to the fertiliser business when it enters the market. If completed as planned in 2028, the IPO would mark another major step in Dangote Group’s strategy of bringing strategic businesses closer to public investors while supporting Nigeria’s push for stronger domestic production and a deeper capital market.

source: The guardian