President of the Dangote Group, Aliko Dangote, has announced plans to open up the Dangote Refinery to public investment, stating that Nigerians will be able to purchase shares in the facility within the next four to five months.
Dangote disclosed during a media interaction at the refinery complex, where he hosted the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, alongside members of the company’s board and senior management team.
Public Offer in the Works According to Dangote, arrangements are being finalised to allow individual Nigerians to participate directly in the ownership of the refinery.
He indicated that the share offer is expected to materialise by July, describing it as part of a broader plan to widen public participation in what is considered one of Africa’s largest industrial projects.
NNPCL, he explained, currently holds a 7.25 per cent stake in the refinery on behalf of Nigerians, reflecting existing public interest in the venture.
Dividend Flexibility Dangote also revealed that prospective investors will have flexibility in how they receive returns on their investments.
Given that the refinery earns revenue in foreign currency, shareholders will have the option to collect dividends either in naira or in dollars.
The proposal signals an effort to attract both local retail investors and institutional participants seeking foreign currency exposure.
Expanding Partnership with NNPCL Beyond the planned share sale, Dangote said the refinery would continue to deepen collaboration with NNPCL across various segments of the oil and gas value chain.
He noted that discussions are ongoing regarding possible upstream partnerships, suggesting that cooperation could extend beyond refining into crude production and other related ventures.
At the same time, he described the Dangote facility as more than a refinery, characterising it as an integrated industrial hub with multiple production streams.
Dangote further disclosed that new projects within the complex are under development, including a linear alkylbenzene (LAB) plant. LAB is a key raw material used in detergent manufacturing.
Once operational, the facility is expected to supply sufficient volumes to meet demand across the African continent. Delivery timelines for these additional industrial components are projected at approximately 30 months.
The planned public share offering, alongside expanded industrial operations and potential upstream collaboration, marks the next phase in the refinery’s evolution as a strategic asset in Nigeria’s energy and manufacturing landscape.