The Nigerian Exchange Group (NGX Group) says the anticipated Initial Public Offering (IPO) of Dangote Refinery and Petrochemicals is being positioned as an African investment opportunity.

Chairman of NGX Group, Umaru Kwairanga, disclosed this at the London Africa Summit on Friday, which focused on strengthening business and investment ties.

Mr Kwairanga, in a statement on Saturday, said NGX had engaged stock exchanges across Africa to broaden participation in the planned offer and deepen regional capital market integration.

“We want to consider the Dangote Refinery offer as an African offer and not a Nigerian offer.

“That is why we invited stock exchanges from across the continent to Lagos and took them to the refinery to see what has been built,” he said.

He said representatives from Kenya, Ghana, South Africa and other African countries visited the refinery to assess its operations and investment potential.

According to him, investors increasingly seek tangible evidence and growth prospects before committing capital.

“Investors are not looking for stories. Investors are looking for evidence, prospects and projections, and that is what we are bringing from Africa,” he said.

Mr Kwairanga described Africa as one of the world’s most attractive investment destinations, citing its youthful population and expanding economic opportunities.

He noted that the Nigerian equities market delivered returns of more than 50 per cent in the first five months of the year.

“There are a lot of opportunities. With technology, investors can participate from anywhere in the world, including from the comfort of their homes,” he said.

Mr Kwairanga also highlighted the longstanding partnership between the Nigerian and London capital markets.

He described the relationship with the London Stock Exchange as instrumental in attracting global capital to Nigeria.

He said NGX had invested heavily in technology and market infrastructure to support efficient capital raising and improve market operations.

According to him, more than N4 trillion raised through recent bank recapitalisation exercises was facilitated by the exchange’s technology platforms.

Mr Kwairanga said NGX had undertaken international roadshows across the United States, Brazil, China and the United Kingdom.

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He said the engagements were aimed at showcasing investment opportunities and strengthening investor confidence in Nigeria.

He added that recent reforms, including migration to a T+1 settlement cycle and extended trading hours, aligned the market with global best practices.

“We are bringing opportunities, growth and scale from Africa, while London is bringing global capital, international experience and investment depth.

“When these are combined, they create the confidence investors need to commit capital to the continent,” he said.

Mr Kwairanga expressed optimism that stronger collaboration between African exchanges and international financial centres would increase capital inflows.

He said the partnerships would also support economic growth and deepen capital market development across the continent.

(NAN)

Plateau State chapter of the Miyetti Allah Cattle Breeders Association of Nigeria, MACBAN, on Saturday, said gunmen suspected to be “Berom Militias” attacked and killed a 15-year-old herder identified as Sadi Aliyu, in the Sabon Gidan Kanar community of Jos South Local Government Area of the state.

According to the Chairman of MACBAN in the state, Ibrahim Yusuf Babayo, the attack which occurred late on Friday while the victim and other herders were grazing livestock in the area, also left 13 cattle dead and 11 others missing.

Babayo, who made the confirmation of the incident in a statement on Saturday, said the assailants stormed the grazing field and opened fire on the herders without provocation, adding that the teenage herder was killed on the spot, while several cattle were shot dead during the attack.

“The attack which Berom Militia carried out was unprovoked as there were no previous incidents before then,” the MACBAN Chairman said.

“The victim, alongside his colleagues, was rearing cattle when the gunmen attacked them. They killed one herder and 13 cattle, while about 11 cattle are still missing,” Babayo added.

While condemning the attack, Babayo described it as a threat to fragile peace and security in the state.

He decried what he described as the continuous targeting of innocent herders and their livestock which he said is unacceptable and poses a serious threat to peaceful coexistence and security in Plateau State.

The MACBAN Chairman however stated that the incident had been reported to the Bukuru B Division of the Nigeria Police Force and Sector 6 of Operation Enduring Peace for investigation and necessary action and called on security agencies to thoroughly investigate the attack, arrest those responsible and ensure that justice is served.

The MACBAN chairman also urged governments at all levels to take proactive measures to protect the lives and property of citizens, irrespective of their ethnic background or occupation, and appealed for calm, advising members of the herding community and other affected persons against taking the law into their own hands, urging them instead to allow security agencies to carry out their responsibilities.

“The association remains committed to peace, dialogue and lawful means of addressing grievances,” he added.

Efforts to obtain official confirmation from the state Police Command and the Operation Enduring Peace, OPEP, were unsuccessful as the spokespersons for the police SP Alfred Alabo and Captain Polycarp Oteh were yet to respond to enquiries as of the time of filing this report.