Businessman Femi Otedola has said he is buying shares in Dangote Cement to preserve his wealth in the long term.
In a statement on Monday, Mr Otedola said the strategic investment underscores his confidence in Dangote Cement’s potential to generate foreign exchange for the country and his dedication to supporting businesses that contribute to Nigeria’s economic resilience.
“My investment is a testament to my confidence in its potential to propel Nigeria’s and Africa’s industrial and economic development,” he said.
“In my investment decisions, I focus on long-term wealth preservation and ensuring shareholders are the ultimate beneficiaries of a company’s success,” Otedola stated.
“Companies like Dangote Cement, which consistently deliver value to their shareholders, are fundamental for sustainable economic growth. My investment reflects my belief in its capacity to continue providing significant returns and my commitment to businesses that prioritise their shareholders.”
Otedola donates N1bn to Lagos Security Trust Fund
Again, Otedola visits Dangote’s oil refinery, petrochemical plant in Lagos
Otedola, who last year unsettled the market through his purchase of Transcorp Group shares, said Dangote Cement’s strong corporate governance and impressive environmental, social, and corporate governance compliance track record make it an ideal investment choice.
Dangote Cement is currently worth N9.1 trillion and traded at N592.5 on Monday.
Last Wednesday, Otedola visited the Dangote refinery in Lagos following the commencement of production in the facility.
The chairman of Geregu Power Plc congratulated his ‘bestie’ Aliko Dangote on his achievement in building the world’s largest single-train petroleum refinery.
