Dangote IPO Meets the Fed: Nigeria's Capital Markets at a Crossroads

The NGX closed Thursday at a market capitalization of N159.9 trillion, adding N1.18 trillion in a single session with 1.1 billion shares traded — nearly double the prior day's volume. The index has risen for five consecutive trading days, powered by broad-based buying across industrial, banking, and insurance stocks. Fueling optimism is the Dangote Refinery IPO, Africa's largest-ever public share sale, offering 4.1 billion shares at N525 each. A federal...