President of the Dangote Group, Aliko Dangote, has disclosed that Nigerians will be able to purchase shares in the Dangote Refinery within the next four to five months, opening the door for individual participation in one of Africa’s largest industrial projects.
Dangote, who is also Chief Executive of the group, said plans are underway to list the refinery to allow members of the public invest directly and earn dividends either in naira or dollars.
According to him, the move is designed to democratise ownership of the multi-billion-dollar refinery and enable Nigerians to benefit directly from its operations.
He revealed that the Nigerian National Petroleum Company Limited currently holds about 7.25 per cent equity in the refinery. Dangote noted that the stake is significant, remarking that it exceeds the percentage holding of Elon Musk in Tesla.
The refinery, located in the Lekki Free Zone in Lagos, is projected to refine 650,000 barrels of crude oil per day at full capacity, positioning Nigeria as a major exporter of refined petroleum products and reducing reliance on imports.
Industry analysts say a public offering could deepen Nigeria’s capital market while boosting local investor confidence, particularly if dividends are paid in both local and foreign currencies as indicated.
Dangote added that broader participation by Nigerians would strengthen transparency and accountability, while also aligning the refinery’s success with national economic growth.
The anticipated share offer is expected to attract strong interest from institutional and retail investors alike, as the refinery ramps up production and expands distribution across domestic and international markets.
