Chairman of the Dangote Group, Aliko Dangote, has announced that Nigerians will be able to purchase shares in the $20 billion Dangote Refinery within the next four to five months, projected between June and July 2026.
Dangote disclosed this during a visit by the Group Chief Executive Officer and top officials of the Nigerian National Petroleum Company Limited (NNPCL) to the refinery complex located in Lekki. Addressing the delegation, he confirmed that plans are underway to list the refinery on the Nigerian Exchange (NGX), giving individual Nigerians the opportunity to participate directly in the ownership of the multi-billion-dollar facility.
According to Dangote, the listing is designed to deepen local participation and ensure that Nigerians benefit from the refinery’s operations. He added that shareholders will have the option of receiving dividends either in naira or in United States dollars, noting that the refinery earns foreign exchange from its operations.
“But individually, Nigerians will have an opportunity in the next maximum four or five months to buy shares. They can also choose to receive dividends in naira or dollars, because we earn in dollars,” Dangote said.
The Dangote Refinery, regarded as Africa’s largest single-train refinery, has attracted significant public interest since it commenced operations. The Nigerian National Petroleum Company Limited currently holds a 7.25 percent equity stake in the refinery on behalf of the Federal Government.
The visit to the refinery follows a recent executive order by President Bola Ahmed Tinubu, directing the direct remittance of oil revenues into the Federal Government’s account, a policy shift that reportedly affected several revenue streams previously managed by NNPCL.
