Emmanuel OchayiDangote Sugar has surged past the N1 trillion market capitalization mark, making it the second jewel in the crown of Dangote-owned enterprises to achieve this feat.
As the clock struck 1:30 pm on January 17, 2024, Dangote Sugar’s shares experienced a surge of 1.23%, reaching N82.40. This surge propelled the company into the exclusive N1 trillion club, marking a milestone and solidifying its position among Nigeria’s elite corporations.
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Notably, Dangote Sugar has now earned its place in the prestigious SWOOT category, an acronym derived from the companies that have breached the N1 trillion market cap on the Nigerian Exchange Group (NGX).
This exclusive club consists of financial powerhouses like FBN Holdings, United Bank for Africa, Access Holding, Transcorp Hotels, and Geregu Power.
Dangote Sugar’s ascent to the N1 trillion mark not only cements its financial prowess but also underscores the resilience and strategic acumen of the company in navigating the dynamic market landscape.
This achievement further emphasizes the robustness of the Nigerian business environment, as Dangote Sugar becomes the fifth entity to join the N1 trillion league on the NGX in 2024.
Investors and market enthusiasts are closely watching the sugar giant’s continued trajectory, eager to witness how it will leverage this milestone to further drive growth and innovation in the ever-evolving economic landscape.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
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