President of Dangote Industries Limited, Aliko Dangote, has said he no longer wants to be referred to as the richest man in Africa, preferring to be known as the wealthiest man who creates opportunities for others.

Dangote made the remarks on Monday while sounding the gong at the Nigerian Exchange in Lagos to formally launch the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals.

The businessman said his preference was driven by his desire to create wealth for other people rather than being recognised solely for his personal fortune.

“I don’t want anybody again to call me the richest man in Africa. I want to be called the wealthiest man in Africa so that I can create wealth for others,” he said.

Dangote’s comments came as his refinery commenced its N2.15tn IPO, offering 4.1 billion ordinary shares at N525 each.

The public offer provides investors with an opportunity to acquire shares in the refinery, with a minimum subscription of 10 shares valued at N5,250.

The billionaire has repeatedly advocated for greater investment in productive ventures, saying wealth should be channelled into activities that create jobs, expand businesses and strengthen the economy.

The refinery IPO is expected to broaden public participation in the ownership of one of Africa’s largest industrial projects while providing additional capital for expansion.