Stock Exchange lauds Dangote
The Nigerian Stock Exchange (NSE) yesterday commended Alhaji Aliko Dangote for his efforts and advocacy for an improved and better capital market.
Speaking during the visit of the management of Dangote Cement to the Exchange in Lagos, Chief Executive Officer, Nigerian Stock Exchange (NSE) Plc, Mr Oscar Onyema said Dangote Cement as the largest listed company on the Exchange and with other listed companies from the Dangote Group such as Dangote Sugar Refinery, Dangote Flour and NASCON Allied Industries, have important influence on the stock market.
He commended Dangote Cement for its adherence to best corporate governance practices, urging for more partnerships between the Exchange and the Dangote Group.
Welcoming the Group Managing Director of Dangote Cement, Engr. Joe Makoju and his management team to the special sounding of the closing gong on the trading floor of the NSE, Onyema congratulated Makoju on his confirmation as the substantive Chief Executive of Dangote Cement.
He described Makoju as a proper and fit person for the role of the chief executive of the largest listed company given his level of experience and years of exposure in the manufacturing sector.
He noted that Makoju’s tenure as the helmsman of Dangote Cement has started yielding the expected results as increased investors’ confidence has resulted in good performance of the stock.
“The performance of the stock is very good and is fallout of the resilience, expertise and diligence of the management team. It is listed on the premium board,” Onyema said.
Makoju in his response described it as an honour and privilege to be invited to participate and sound the closing gong noting that there exists a special relationship between Dangote Group and the NSE as Aliko Dangote was a former president of the Council of the Exchange.
He said that Dangote Cement has grown from a national company to a continental one operating in several countries across Africa.
The doyen of Stockbrokers, Mr. Sam Ndata, on behalf of other stockbrokers congratulated Makoju and described him as a tested hand in the cement sector.
“There is no doubt that Dangote Cement will do well with you at the helm of affairs,” Makoju said.
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