President of the Dangote Group, Aliko Dangote, has revealed that ordinary Nigerians will soon have the opportunity to own a stake in the massive Dangote Refinery, as plans are underway to open up share sales to the public within the next four to five months.
Dangote made this known on Saturday while addressing journalists during a visit to the refinery by the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari.
According to him, the move will allow individual Nigerians to directly participate in what is considered one of Africa’s largest industrial projects.
Investors And Their Returns
He explained that prospective investors will not only be able to buy shares but will also enjoy flexibility in how they receive returns on their investments.
“Investors can decide whether they want their dividends paid in naira or in dollars, since we generate foreign exchange,” Dangote said.
He further disclosed that NNPCL already owns a minority stake of 7.25 per cent in the refinery, holding the shares in trust for the Nigerian people.
The arrangement, he noted, underscores the national significance of the project and reinforces its identity as a strategic asset for the country.
Dangote also signalled stronger collaboration between his company and NNPCL, hinting at broader partnerships that could extend beyond refining into upstream oil and gas ventures.
He described the refinery not merely as a processing plant, but as a fully integrated industrial hub designed to drive large-scale economic activity.
Beyond Fuel
“There are discussions about deeper cooperation. We may partner with them in upstream operations, and they could also expand their involvement here. This is more than a refinery — it’s an industrial ecosystem,” he explained.
Beyond fuel production, Dangote highlighted ongoing expansion projects within the complex, including a facility to produce linear alkylbenzene — a crucial raw material used in detergent manufacturing.
Once operational, he said, the plant is expected to meet demand across the African continent within the next 30 months.
Emphasising a shared vision with NNPCL, Dangote stated that both organisations are aligned in their goal to strengthen Nigeria’s energy security, reduce import dependence, and stimulate industrial growth.
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With public share sales on the horizon and new industrial ventures in development, the refinery is positioning itself not just as a national asset, but as a cornerstone of Africa’s evolving energy and manufacturing landscape.