Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu, has described the opening of the initial public offering (IPO) of Dangote Petroleum Refinery on the Nigerian Exchange as a significant milestone for Nigeria’s capital market and economy.
Sanwo-Olu made the remarks after joining Alhaji Aliko Dangote at the Nigerian Exchange Group in Lagos to mark the opening of the Dangote Refinery IPO. The Governor said the development underscored the growing confidence in Lagos as a preferred destination for major investments and businesses.
He noted that the listing of the Dangote Refinery, described as the first refinery to be offered on the Nigerian Exchange in its 66-year history, represents an important development for the country’s capital market. According to him, the move also demonstrates the potential for large-scale Nigerian businesses to access domestic investment opportunities while contributing to economic growth.
The Governor said the development aligns with the vision of building Lagos into a city where businesses can grow, investors can find opportunities and major investments can take root. He reaffirmed the state government’s commitment to creating a business-friendly environment, improving ease of doing business and strengthening Lagos’ position as Nigeria’s leading investment destination.
Sanwo-Olu stressed that the state would continue to pursue policies and initiatives capable of attracting and retaining investments across various sectors of the economy. He added that Lagos would remain focused on providing an enabling environment for businesses to expand, create jobs and contribute meaningfully to the state’s economic development.
He expressed optimism that the Dangote Refinery listing would further deepen the Nigerian capital market and open up new opportunities for investors, while encouraging more businesses to explore the Nigerian Exchange as a platform for raising capital and expanding their operations.
The Governor reiterated the Lagos State Government’s commitment to supporting initiatives that promote investment, entrepreneurship and economic growth, assuring that efforts would continue to position the state as a hub for businesses, investors and major commercial activities in Nigeria.
