Dangote Opens Refinery Investment to Nigerians With Public Share Sale Plans

Aliko Dangote, President of the Dangote Group, has announced that ordinary Nigerians will soon be able to buy shares in the $20 billion Dangote Petroleum Refinery, a move aimed at expanding public participation in one of Africa’s largest industrial projects. The announcement was made during a guided inspection of the refinery by NNPC Limited management, led by Group CEO Bayo Ojulari, and senior officials of the company.

Dangote stated that arrangements are being finalised to allow individual investors to acquire shares within the next four to five months, giving Nigerians direct ownership in the refinery. “Individually, Nigerians too will have an opportunity… in the next maximum four or five months, they will actually be able to buy their shares,” he said.

The Nigerian National Petroleum Company (NNPC) currently holds a 7.25 % stake in the refinery on behalf of Nigerians, ensuring that public interest remains a key aspect of the project. Dangote further explained that investors will have flexibility in receiving returns, saying, “People will have a choice either to get their dividends in naira or to get their dividends in dollars because we earn dollars.”

Beyond the public share offering, Dangote highlighted ongoing collaboration with NNPC to enhance operations and explore opportunities across the oil and gas value chain, including potential upstream partnerships. “Most likely… we will partner with them, maybe in some of the upstream. They, too, will partner with us here because here is not a refinery. It’s an industrial hub,” he said.

The refinery is also set to support additional industrial ventures, including the production of linear alkylbenzene (LAB), a key raw material for detergents. Dangote noted that production will be sufficient to meet demand across the African continent within 30 months, underscoring the facility’s industrial significance.

Industry analysts expect the refinery to list on the Nigerian Exchange (NGX) through a phased public offering of 5–10 % equity, similar to earlier listings of Dangote Cement and Dangote Sugar. The move is aimed at enhancing market liquidity, transparency, and public participation, while retaining majority ownership by the Dangote Group.

The public share offering represents a milestone in Nigeria’s industrial and energy sector, offering citizens an opportunity to participate in a globally competitive infrastructure project while benefiting from dividends in local and foreign currency.