Home Africa Nigeria: Dangote IPO fever hits NGX, wipes N1.67trn off market

Nigeria: Dangote IPO fever hits NGX, wipes N1.67trn off market

Africa Links 24 with Kehinde Akinseinde-Jayeoba
Published on 2026-09-09 19:10:00

Nigerian equities market suffered another major sell-off on Wednesday as investors scrambled to raise cash ahead of the much-anticipated Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals, wiping N1.67 trillion off the value of listed equities.

The renewed sell-off pushed the NGX All-Share Index down by 1.05 per cent to 242,223.10 points, while the market’s year-to-date return moderated to 55.66 per cent.

Similarly, total market capitalisation fell to N157.05…

Read the Full article on Nigerian Tribune

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