Africa’s richest businessman, Aliko Dangote, has announced that Nigerians can become shareholders in the Dangote Petroleum Refinery through its upcoming Initial Public Offering (IPO) with a minimum investment of just N5,250.
Speaking at the IPO signing ceremony held in Lagos on Monday, Dangote disclosed that interested investors can purchase a minimum of 10 ordinary shares, priced at N525 per share.
The refinery plans to offer 4.1 billion shares to the public and aims to raise approximately N2.15 trillion to support the next phase of its expansion.
According to Dangote, the IPO is designed not only to fund refinery growth but also to give ordinary Nigerians an opportunity to own a stake in one of Africa’s largest industrial projects.
“This is the IPO for the people. We want everyone, from drivers and cooks to business owners and professionals, to have the chance to become shareholders,” Dangote said.
He explained that the offer price was deliberately structured to encourage broad participation rather than maximise proceeds from the capital market.
The billionaire industrialist added that ownership of the refinery would not be limited to institutional investors, stressing that individuals across Africa are welcome to participate in the offering.
The IPO follows a series of fundraising efforts by the refinery. Earlier this year, the company secured $2.5 billion through a private placement and later obtained a $1 billion underwriting programme to strengthen its financial position ahead of the public listing.
Nigeria’s Securities and Exchange Commission (SEC) has already approved the offer, clearing the way for the sale of the 4.1 billion shares at N525 each.
The Dangote Refinery has emerged as a major player in Nigeria’s downstream oil sector, supplying millions of litres of petrol daily while expanding exports of refined petroleum products to several African countries, including Ghana, Cameroon, Côte d’Ivoire, Tanzania and Togo.
With a minimum entry requirement of N5,250, analysts say the offer could attract significant interest from retail investors seeking to participate in the ownership of the multi-billion-dollar refinery.
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