Dangote Cement Lists First CPs on NGX
Analysis based on 7 articles · First reported Feb 18, 2026 · Last updated Feb 19, 2026
The listing of Commercial Papers by Dangote Cement on Nigerian Exchange Group signifies a positive development for Nigeria's debt market, offering enhanced transparency and liquidity for short-term corporate funding. This move is expected to attract more institutional and qualified investors, potentially lowering borrowing costs for companies and stimulating economic growth.
Nigerian Exchange Group has recorded its first-ever Commercial Paper (CP) listing with the admission of Dangote Cement Plc's Series 1 and Series 2 Commercial Papers, valued at N119.87 billion, on February 18, 2026. This landmark event follows Nigerian Exchange Group's introduction of its CP listing framework last year, marking a significant expansion of its product offerings and deepening Nigeria's fixed income market. The two series, with tenors of 181 and 265 days respectively, were issued at a discount with implied yields of 17.50% and 19.00%. Market analysts, including David Adonri of Globalworth Securities Limited, view this as a sign of growing sophistication in Nigeria's short-term debt market, providing a benchmark for future issuances and enhancing price discovery. The move aligns with the United States — United States Securities and Exchange Commission's agenda to ease capital formation for corporates and improve secondary market tradability, positioning Nigerian Exchange Group as a comprehensive capital-raising hub.
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