Dangote Set To List On London Stock Exchange

The president of Dangote Group, Alhaji Aliko Dangote, has said his company would be ready to list on the London Stock Exchange by next year.

Dangote was quoted as saying in an interview: “I think we will list in London. What we are trying to do now, between now and maybe the next six to 10 months, is actually trying to address all the governance issues.

“I think we will be ready to list sometimes towards ending of 2016 at the latest, which means anytime between the beginning and the end of 2016,” he said in a report by StarAfricanews.

Last year, Seplat Petroleum Development Company Plc joined the list of Nigerian companies listed on the LSE.

Speaking on oil price and the Nigerian economy, Dangote said that Nigeria could do well with crude price of $60 per barrel.

“With oil at $60, if Nigeria is doing what is right, actually we will do well. We don’t need oil at $110 because it is not really a realistic price, so to speak,” he said.

On the incoming administration of President-elect Muhammadu Buhari, Dangote said: “I personally believe that there are quite a lot of challenges for the incoming government because the expectations are extremely high, but are they deliverable, especially the promises that they have given? Yes.

“But they have to be very focused and target mainly the key issues.”