Nigerians will be able to purchase shares in the $20 billion Dangote Petroleum Refinery within the next five months, according to Aliko Dangote, chairman of the Dangote Group. As reported by Nigeria Daily Post, the planned public offering will precede the refinery’s listing on the Nigerian Exchange Group.
Dangote disclosed the timeline during a media tour of the refinery located in the Lekki Free Trade Zone in Lagos. He noted that the Nigerian National Petroleum Company Limited currently holds a 7.25 percent equity stake in the refinery on behalf of Nigerians, and that the upcoming share sale will allow broader public participation in the project, as highlighted by Business 247.
According to a report by Nigeria Daily Post, Dangote also indicated that prospective investors may have the option to receive dividends in either naira or U.S. dollars, reflecting the refinery’s revenue profile from both domestic sales and exports.
The refinery, one of Africa’s largest industrial projects, is widely viewed as a transformative development for Nigeria’s energy sector and capital markets. Analysts cited by Nairametrics describe the anticipated listing as a potential milestone that could deepen retail investor participation and expand the domestic equities market.
