Dangote IPO could lift GDP to $600bn — Rewane

15 trillion Initial Public Offering, IPO, by Dangote Refinery could help increase Nigeria’s Gross Domestic Product, GDP, from about $278 billion to $600 billion by 2030, economist and Chief Executive Officer of Financial Derivatives Company, FDC, Mr Bismarck Rewane, has said.

Earlier, Chairman of the event, Mr Oluwagbenga Oyebode, described the IPO as a landmark transaction for Nigeria’s capital market, saying it would significantly increase market capitalisation while introducing greater energy and downstream exposure to the Nigerian Exchange.

Rewane, who spoke at the Abuja investor roadshow for the refinery’s IPO, said the investment could generate significant multiplier effects through increased industrial output, investment, consumer spending and exports.