President of the Dangote Group, Aliko Dangote, has revealed plans to offer Nigerians the opportunity to invest directly in the Dangote Refinery, marking a significant step toward expanding public participation in one of Africa’s largest industrial projects.
Dangote made the announcement during a guided tour of the refinery complex with the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Bayo Ojulari, alongside members of the NNPC board and executive management team.
According to Dangote, preparations are in advanced stages for the sale of shares to individual investors, with the process expected to commence within the next four to five months.
He emphasized that the initiative is designed to democratize ownership of the refinery, enabling everyday Nigerians to become stakeholders in the project.
“Individually, Nigerians will have the opportunity. In the next maximum four or five months, they will be able to buy shares,” he stated.
Dangote also clarified that NNPC currently holds a 7.25 percent minority stake in the refinery on behalf of Nigerians, reinforcing the project’s national significance.
“They are holding 7.25 percent of the shares that we have here, and they are holding that on behalf of Nigerians,” he explained.
In a move aimed at attracting diverse investors, Dangote disclosed that shareholders will be given flexibility in dividend payments, with the option to receive returns either in naira or in dollars.
“People will have a choice to get their dividends in naira or in dollars because we earn dollars,” he added.
Beyond the share offering, Dangote signaled plans for deeper strategic collaboration with NNPC across the oil and gas value chain. Discussions are reportedly ongoing regarding possible upstream partnerships that would further integrate operations.
“Most likely, depending on our discussions, we will partner with them in some of the upstream. They, too, will partner with us here. This is not just a refinery it’s an industrial hub,” he noted.
Dangote further disclosed that the refinery complex is expanding into additional industrial ventures, including the production of linear alkylbenzene, a key raw material used in detergent manufacturing.
The facility is projected to supply sufficient quantities to meet demand across the African continent within the next 30 months.
The development positions the Dangote Refinery not only as a major player in Nigeria’s energy sector but as a strategic industrial center with continental reach.
