Chairman of the Dangote Group, Aliko Dangote, has assured that strange Nigerians will be capable to buy shares within the Dangote Refinery throughout the subsequent 4 to 5 months as the corporate prepares for itemizing.
Dangote made this identified on Saturday, February 21, 2026, whereas addressing journalists throughout a tour of the refinery by the Group Chief Government Officer of Nigerian Nationwide Petroleum Firm Restricted (NNPC), Bayo Ojulari, and different prime executives of the state-owned oil agency.
He counseled the connection between the refinery and the brand new management at NNPC, expressing optimism about future collaboration.
What he’s saying
Dangote described the go to by Ojulari and his group as symbolic, noting that NNPC is not only a accomplice however a shareholder within the refinery.
“Right this moment is admittedly our greatest day ever, at the least he (Ojulari) is not only a visitor, he’s a shareholder and you already know NNPC invested in us after we ourselves weren’t even positive that the refinery might be profitable.
“So, that’s the extent of confidence, however proper now the connection with the brand new set of individuals now we have on the NNPC, I believe the sky is the restrict and we might cooperate and in addition ensure we work collectively to make Nigerians proud.”
He disclosed that NNPC holds a 7.25% fairness stake within the refinery on behalf of Nigerians.
“They’re holding 7.25% of the shares that now we have right here, which is greater than the shares that Elon Musk has in Tesla, and they’re holding that on behalf of Nigerians.
“However individually Nigerians too could have a chance within the subsequent most 4 or 5 months they are going to really be capable to purchase their shares.”
Dangote additionally reiterated that Nigerian shareholders would have the choice of receiving dividends in both naira or US {dollars}, for the reason that refinery earns overseas foreign money.
“Individuals could have a selection both to get their dividends in naira or to get their dividends in {dollars} as a result of we earn in {dollars}.”
Why it issues
Opening the refinery’s shares to the general public is anticipated to:
- Democratise possession of a important nationwide asset
- Deepen Nigeria’s home capital market
- Increase liquidity and market capitalisation on the Nigerian Alternate
- Enable retail buyers to learn from dividends and capital beneficial properties
Itemizing the refinery — valued at about $20 billion — may considerably strengthen investor confidence and market depth.
The choice to obtain dividends in {dollars} might also present buyers with a hedge towards naira volatility, provided that the refinery generates substantial overseas foreign money earnings from exports.
Dangote stated precedence could be given to Nigerian retail buyers to make sure broad-based participation quite than focus amongst giant establishments.
What it is best to know
In December 2025, Dangote unveiled plans to record a ten% stake within the refinery on the Nigerian Alternate Restricted (NGX) in 2026.
He disclosed that discussions have been ongoing with the Securities and Alternate Fee Nigeria (SEC) and the NGX to finalise the construction for the proposed preliminary public providing (IPO), together with the framework for potential dollar-denominated dividend funds.
In accordance with Dangote, projected export earnings of about $6.4 billion — largely from petrochemicals corresponding to polypropylene and fertiliser — will underpin the greenback dividend construction and guarantee sustainable onerous foreign money flows.
