The Group Chairman of Nigerian Exchange Group, Alhaji Dr Umaru Kwairanga, has called on East African investors to participate in the Dangote Petroleum Refinery initial public offering and support African-led industrial development.
Kwairanga made the appeal during a high-level investor engagement at the Nairobi Securities Exchange in Kenya on Tuesday, September 29, 2026.
He said the event reflected the growing efforts by African leaders and businesses to develop solutions to the continent’s economic and industrial challenges.
The NGX chairman commended Kenyan President William Ruto and Nigerian President Bola Ahmed Tinubu for advocating stronger cooperation among African countries.
He also praised Alhaji Aliko Dangote for advancing large-scale industrial development across the continent.
According to Kwairanga, Dangote helped transform Nigeria from a cement-importing country into a self-sufficient producer and exporter.
He said the entrepreneur was now pursuing similar ambitions in fertiliser and petroleum products, while promoting a broader vision of an industrialised Africa led by African businesses and investors.
Kwairanga noted the transformational effect of the Dangote Refinery in Lagos and expressed confidence that the proposed refinery in Kenya would deliver comparable benefits across East Africa.
He said the Kenyan project could strengthen regional energy security, support industrial growth and create wider economic opportunities.
The NGX chairman also highlighted Dangote’s emphasis on mobilising local capital instead of relying heavily on expensive and unstable foreign borrowing.
He urged investors in East Africa to support the refinery’s vision by participating in the public offer.
Kwairanga said investing in African-led industrial projects could provide financial benefits to investors while contributing to development opportunities for future generations.
He described the Dangote Refinery initiative as an opportunity for African investors to support the creation of major industrial assets and help move the continent towards greater economic self-reliance.