LAGOS — President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, has declared that the Initial Public Offering (IPO) of the 650,000-barrel-per-day Dangote Refinery will provide ordinary Nigerians with an opportunity to own shares in the multibillion-dollar facility.
Dangote made the declaration on Monday in Lagos while delivering the opening remarks at the signing ceremony for the refinery’s IPO.
According to him, the objective of the offering is to ensure that Nigerians from all walks of life can participate in the ownership of the refinery.
“What we are trying to achieve is to make sure our drivers, cooks, servants, and everybody have the opportunity of having stakes in the refinery,” Dangote declared.
The IPO signing ceremony attracted prominent figures from Nigeria’s business and financial community, including Chairman of Zenith Bank, Jim Ovia, and Chairman of Heirs Holdings, Tony Elumelu, among other financial experts and stakeholders.
Under the proposed offering, the Dangote Refinery will make available 4.1 billion ordinary shares of $0.000013 each for subscription at ₦525 per share.
The official application list is scheduled to open on September 14, 2026, and will remain open for 25 days, closing on October 9, 2026.
The planned public offering marks a significant step in the evolution of the Dangote Refinery, which has emerged as one of Africa’s largest petroleum refining facilities. Beyond raising capital, the IPO is expected to broaden Nigerian participation in the ownership of a major strategic industrial asset.
Dangote’s emphasis on allowing drivers, cooks, workers and other ordinary Nigerians to acquire stakes in the refinery underscores his vision of expanding local participation in major Nigerian enterprises.
The development is expected to generate significant interest among retail investors as Nigerians consider the opportunity to become shareholders in one of the country’s most prominent industrial projects.
