- He explained that arrangements are being finalised to enable Nigerians to invest directly in the refinery
- the NNPC currently owns a 7.25 per cent stake in the refinery on behalf of citizens
- Dangote further stated that prospective investors would be given the option of receiving dividends either in naira or in dollars
The President of the Dangote Group, Aliko Dangote, has announced plans to open up ownership of the Dangote Refinery to the Nigerian public, saying individuals will soon be able to purchase shares in the facility.
Eko Hot Blog gathered that Dangote disclosed this on Saturday while addressing journalists during a visit to the refinery by the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari, alongside members of the company’s board and senior management team.
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He explained that arrangements are being finalised to enable Nigerians to invest directly in the refinery within the next four to five months.
According to the billionaire industrialist, the NNPC currently owns a 7.25 per cent stake in the refinery on behalf of citizens, describing it as a minority holding that represents public interest.
Dangote further stated that prospective investors would be given the option of receiving dividends either in naira or in dollars, noting that the refinery generates foreign exchange earnings.
Beyond expanding public participation, he said the refinery would strengthen its partnership with NNPC to enhance operational efficiency and explore broader opportunities within the oil and gas sector.
He added that discussions are ongoing regarding possible collaboration in upstream activities, while also highlighting that the refinery complex is designed as a full industrial hub rather than a standalone processing plant.
Dangote also revealed plans to commence additional industrial projects within the complex, including the production of linear alkylbenzene, a key ingredient in detergent manufacturing.
He said the output would be sufficient to meet demand across Africa, with delivery timelines projected within the next 30 months.
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