Africa’s richest businessman, Aliko Dangote, has announced that Nigerians will be able to purchase shares in the Dangote Refinery within the next four to five months.
According to Dangote, the move will allow ordinary Nigerians to become part-owners of the multi-billion-dollar refinery and earn dividends either in naira or U.S. dollars.
Public Share Offer Coming Soon
Speaking on the refinery’s future plans, Dangote revealed that preparations are underway to open up ownership to individual investors. The public offering is expected to broaden participation in one of Africa’s largest industrial projects.
Industry analysts say the decision could deepen Nigeria’s capital markets and provide citizens with direct access to profits from the country’s expanding refining capacity.
NNPC’s Stake in the Refinery
The Nigerian National Petroleum Company Limited (NNPC) currently holds approximately 7.25% equity stake in the Dangote Refinery.
Interestingly, that stake is reportedly higher than the percentage owned by Elon Musk in Tesla, highlighting the scale and strategic importance of the refinery project.
Boost to Nigeria’s Economy
The Dangote Refinery, located in Lagos, is considered one of the largest single-train refineries in the world. It is expected to:
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Reduce Nigeria’s dependence on imported petroleum products
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Strengthen local refining capacity
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Create jobs and support industrial growth
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Increase foreign exchange earnings
Allowing Nigerians to buy shares could further democratise wealth creation in the energy sector and build broader national ownership of the landmark project.
As timelines point to a 4–5 month window before shares become available, investors and market watchers are closely monitoring developments.
