During the 2022 Nigerian Investor Value Award (NIVA), organized by Businessday in collaboration with the Nigeria Exchange Group, Dangote Cement, the most capitalized company on the Nigeria Stock Exchange, was named the best stock ahead of BUA Cement Plc and CAP Plc, the two other indigenous companies.
Dangote Cement led the pack in the Listed Companies best performing stock, in the Industrial goods category, having been adjudged to have recorded stellar performance in creating value on the Nigeria Stock Exchange on the basis of criteria such as share price, dividend payments, sustainability, brand value, market leadership, and business strategy against its peers during the period under review.
Mr. Temi Popoola, Chief Executive Officer of Nigeria Exchange Limited, who was represented by Mr. Jude Emeka, Divisional Head, Capital Market, said the award by Businessday Media Limited highlighted the Nigeria Exchange Group’s goal of promoting actionable and effective multi-stakeholder dialogue on issues central to a well-functioning financial system.
While conceding that the winning corporations are deserving of the award, he noted that the winners were chosen from among active companies with significant investor demand for their shares.
“As a responsible entity, known for aligning with best global practices, we recognize the importance of corporate governance and effective board leadership in driving sustainability on the business front. That is why we choose to not only recognize listed companies who are blazing the trail in investors relations but those also contributing to building a sustainable socio-economic standard in governance, regulation and compliance”.
We’re well on our way to achieving our aspiration to be Africa’s preferred exchange hub, especially given the number of advances that have been implemented recently, including the launch of the NGX Exchange Traded Derivates Market, which saw the listing of two Equity Index Futures Contracts, NGX30 Index Futures, and a diversified range of products and services coupled with robust engagement, according to the Nigeria Exchange boss.
He emphasized that the NGX will stay steadfast in its mission to providing a scalable and innovative platform for issuers and investors to achieve their financial goals regardless of market conditions.
Mr. Popoola said; “We will continue to consolidate on the advances by focusing on key initiatives aimed at creating growing the capital market for the benefit of all key stakeholders.”
The NIVA, formerly known as the Top 25 CEOs Award, recognizes leaders of private and public companies who have created sustainable alpha-generating value for their shareholders through strategic priorities, operational efficiency, organizational values, and marketing engagement activities, according to Businessday Publisher Mr Frank Aigbogun.
He explained that Covid-19 was something that most firms, including Nigerian businesses, had never imagined, but that the Russian-Ukraine issue has once again highlighted the essential need for backward integration and value addition to the country’s main produce.
Aigbogun stated his delight that the Nigerian capital market has remained resilient in the face of global realignment following the Ukraine crisis.
Mr. Obu Oliver, Group Financial Controller, Dangote Cement Plc., who accepted the award, thanked the organizers and vowed that the firms will not rest on their laurels in maintaining the tactics that have made the stock the best performing.
