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    Dangote Sugar Refinery Plunges by 10% on Huge Selloffs

    Olu AnisereBy Updated:No Comments1 Min Read
    Dangote Sugar Refinery Plunges by 10% on Huge Selloffs
    Dangote Sugar

    Dangote Sugar Refinery Plunges by 10% on Huge Selloffs

    Dangote Sugar Refinery Plc plunged by 10% as investors reduced their interest in the company amidst looming third quarter earnings season.

    Investors who held position in the sugar refinery exited their positions, causing the share price decline to N54 on the back of 4.455 million units valued at N261.579 million executed in the local exchange.

    The selloffs reflect negative sentiment in the absence of any other disclosure with capability to fuel demand for Dangote Sugar shares in the market.

    Trading data from the Nigerian Exchange (NGX) showed the market price down Dangote Sugar Refinery’s 12.146 billion shares outstanding to N655.931 billion.

    In the last seven trading sessions, the company share has been less volatile as investors look forward to receive their third quarter earnings scorecard to drive fresh rally.

    Based on its stock market performance, the sugar company has fallen by about 29% below its highest value attained on the Nigerian Exchange in 52 weeks. #Dangote Sugar Refinery Plunges by 10% on Huge Selloffs UBA Grows Profit by 6.1%, Declares 25k Interim Dividend

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    Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.

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