BUSINESS
$20 BILLION DANGOTE REFINERY TO OFFER SHARES TO NIGERIANS WITHIN MONTHS
The Chairman of the Dangote Group, Aliko Dangote, has revealed that Nigerians will have the opportunity to purchase shares in the $20 billion Dangote Refinery within the next four to five months, between June and July 2026.
Dangote made the announcement during a visit by the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL) and senior officials to the refinery complex in Lekki, Lagos.
Addressing the NNPCL delegation, Dangote confirmed that the refinery will soon be listed on the Nigerian Stock Exchange (NGX), enabling individual Nigerians to participate in the ownership of the multi-billion-dollar facility.
“But individually, Nigerians too will have an opportunity in the next maximum four or five months—they will actually be able to buy their shares,” he stated.
Dangote also emphasized that shareholders will have the option to receive dividends in either naira or US dollars, highlighting the refinery’s foreign exchange earnings.
“People will have a choice either to get their dividends in naira or to get their dividends in dollars because we earn in dollars,” he added.
NNPCL currently holds a 7.25 percent equity stake in the Dangote Refinery on behalf of the Nigerian government.
The visit followed an executive order by President Bola Ahmed Tinubu directing the direct remittance of oil revenues into the Federal Government account—a move that has reportedly affected several income streams previously retained by NNPCL.
"This represents a significant development in our ongoing coverage of current events."— Editorial Board