Dangote: Refinery IPO for Nigerians, simplifies share purchase process
President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, has said the planned Initial Public Offering (IPO) of Dangote Petroleum Refinery is aimed at giving ordinary Nigerians the opportunity to own a stake in the country’s biggest private industrial project.
Dangote said the IPO was deliberately designed to be accessible to Nigerians across different income groups, with the share purchase process being simplified to make it easier for both experienced and first-time investors.
He described the offer as being “for the people”, saying its objective goes beyond raising funds to promote wider ownership and allow Nigerians to share in the refinery’s growth.
“This refinery belongs to Nigerians and Africans. It was built to transform our economy, create prosperity, and secure our energy future. We want the people to share in that success. That is why we are making the IPO process simple, transparent, and accessible. Anyone with a Bank Verification Number (BVN) will be able to invest and become a co-owner of this world-class refinery,” Dangote said.
He said technology-driven subscription channels would be deployed to remove unnecessary bureaucracy and make it easier for Nigerians to participate in the offer.
According to him, the simplified process would allow civil servants, artisans, traders, professionals, young entrepreneurs, cooperative societies, pension contributors and Nigerians in the diaspora to subscribe to the shares.
“Historically, wealth has often been concentrated in the hands of a few. Our objective is different. We want to create opportunities for millions of Nigerians to benefit from the value being created by this refinery.
This IPO represents a unique opportunity for people to own part of an enterprise that is already transforming Africa’s refining industry,” he said.
Dangote said broad-based ownership would also help deepen the Nigerian capital market and promote inclusive economic growth.
He recalled that previous public offerings by companies within the Dangote Group had created investment opportunities for thousands of Nigerians through dividends and capital appreciation.
He expressed confidence that the refinery’s long-term growth would similarly create value for its shareholders.
The billionaire businessman said allowing retail investors to participate in the refinery’s ownership was consistent with his belief that Nigerians should have a direct stake in major economic projects.
“People should not only benefit as consumers of refined petroleum products; they should also benefit as owners. We are creating a pathway through which everyday Nigerians can participate directly in the growth story of this refinery,” he added.
The planned IPO is expected to be one of the major transactions in Nigeria’s capital market, given the size and strategic importance of the refinery to the country’s energy sector.
The Dangote Petroleum Refinery has a processing capacity of 650,000 barrels per day and has emerged as a major source of refined petroleum products for Nigeria and export markets.
The refinery is expected to play a major role in reducing Nigeria’s dependence on imported petroleum products, strengthening energy security and supporting foreign exchange earnings through exports.
Dangote also stressed the importance of transparency and corporate governance as the company prepares for the public offering.
He said further details on the offer structure, subscription channels and participation requirements would be communicated through the appropriate regulatory and market channels.
“The refinery is more than an industrial project. It is a symbol of what Nigerians can achieve. We are now opening the doors for millions of people to become part of that journey,” he said.
