In a remarkable achievement, Dangote Sugar, one of the companies under the ownership of business mogul Aliko Dangote, has successfully crossed the N1 trillion market capitalization threshold.
As of 1:30 pm on January 17, 2024, the company’s share price experienced a 1.23 per cent appreciation, reaching N82.40 per share and propelling its market capitalization beyond the significant N1trillion mark.
This accomplishment solidifies Dangote Sugar as the second company within Aliko Dangote’s portfolio to achieve this financial milestone. The company now proudly joins the exclusive group known as the SWOOT category, a distinction denoting companies with market capitalizations surpassing N1 trillion.
Dangote Sugar’s ascent makes it the fifth company overall to achieve this remarkable feat on the Nigerian Exchange Group (NGX) in 2024. The prestigious list includes FBN Holdings, United Bank for Africa, Access Holding, Transcorp Hotels, and Geregu Power.
This achievement not only reflects Dangote Sugar’s robust performance in the market but also highlights the resilience and strength of Nigeria’s business landscape.
As the NGX continues to see companies reaching unprecedented market capitalization levels, Dangote Sugar’s accomplishment underscores its significance within the Nigerian economic sphere. Investors and market observers will undoubtedly be closely monitoring further developments as the company maintains its stride in the dynamic financial landscape.
