Nigerian Exchange Group (NGX) was launched in Lagos on the 18th of May, to show its commitment to the African financial markets.
The event which was titled “The Stock Africa Is Made Of” hosted some business moguls and captains of Industries, with the likes of Alhaji Aliko Dangote, GCON, Chairman, Dangote Group; Mr. Tony Elumelu, CON, Group Chairman, United Bank for Africa (UBA) & Founder, The Tony Elumelu Foundation (TEF); Mr. Jim Ovia, CON, Chairman, Zenith Bank Plc; Etc.
Dangote, the richest man in Africa and also a veteran in trade and industry commended the NGX group as he disclosed how his subsidiaries which are listed on Nigerian Stock Exchange have created wealth to shareholders.
“Our experiences is three of our subsidiaries, Dangote Cement PLC, Dangote Sugar Refinery PLC and the NASCON Allied Industries plc. and listed on the Nigerian stock exchange. The subsidiaries are performing creatively in their sectors.
“We have been consistent in dividend payments as we create and transfer wealth to shareholders.
“Our going to the capital market for listing and trading in our shares afforded many Nigerians institutional investors, Etc to buy into companies. The funds raised where invested in several expansion projects which are yielding the desired Fruits. We Have raised funds from the Capital Market and created wealth for shareholders.
“NGX exist to be a major Catalyst as it offers sustainable wealth creation. It is a good day for the future of the economy and I look forward to remarkable Stripes via NGX.
Alhaji Dangote, who had also served as past President of the Nigerian Stock Exchange, (NSE) showed his optimism toward the group as he believes that it will help boost manufacturing and Industrial Development.
“I’ve always envisioned a commercially vibrant Africa and the NGX is strategic framework that process has the potential to deepen the industrialization.
“I’m optimistic that it would entrench policies that will bolster manufacturing and Industrial Development because industrialization is key to sustainable growth in food, welfare, and creation of jobs.”