Dangote Confirms Plan To Sell Refinery Shares To Nigerians

Dangote Confirms Plan To Sell Refinery Shares To Nigerians
Dangote and NNPC to expand refinery into major industrial hub.
Refinery will produce detergent raw materials for the entire continent.

President of the Dangote Group, Aliko Dangote, has revealed that Nigerians will be able to purchase shares in the Dangote Refinery within the next four to five months.

EKO HOT BLOG reports that he made the announcement during a tour of the refinery by the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari.

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“Individually, Nigerians too will have an opportunity… in the next maximum four or five months, they will actually be able to buy their shares,” Dangote stated. He added that investors will have the flexibility to receive dividends in either naira or dollars, reflecting the refinery’s foreign currency earnings.

Dangote further explained that the NNPC currently holds a minority stake in the refinery on behalf of Nigerians. “They are holding 7.25 per cent of the shares that we have here… and they are holding that on behalf of Nigerians,” he said, highlighting the national ownership dimension of the project.

Beyond public participation, Dangote stressed plans to strengthen collaboration with NNPC to expand Nigeria’s energy and industrial capacity. “I think the sky is the limit and we [NNPC and Dangote Refinery] will cooperate and also make sure that we work together to make Nigerians proud,” he said. Discussions are ongoing for additional partnerships, including potential joint ventures across the oil and gas value chain.

Dangote also detailed industrial projects within the refinery complex, including the production of linear alkylbenzene, a key raw material for detergents. He explained that the facility is being positioned to supply the entire African continent. “That raw material for detergent will be sufficient for the entire African continent… and we will deliver all this in the next 30 months,” he said.

The billionaire businessman emphasised that both Dangote Group and NNPC share a commitment to advancing Nigeria’s energy security and industrial development, with the refinery envisioned not only as a fuel facility but as a major industrial hub for Africa.