Aliko Dangote has described the planned initial public offering (IPO) of Dangote Petroleum Refinery as a historic milestone that will open ownership of Africa’s largest refinery to the public.
Speaking at the IPO signing ceremony on Monday, September 7, 2026, Dangote said the refinery’s development took more than a decade and involved significant challenges, including financing, land acquisition, regulatory requirements and operational hurdles.
He said the IPO reflects the Dangote Group’s broader commitment to investing in Africa and supporting the continent’s industrialisation, with energy security identified as a key foundation for sustainable economic growth.
According to Dangote, the refinery is expected to strengthen Nigeria’s energy security by reducing reliance on imported petroleum products while supporting industrial development.
He said the offer has been structured to enable ordinary Nigerians to participate, with a minimum subscription of 10 shares, describing it as an opportunity for workers, entrepreneurs and other citizens to acquire an ownership stake in the refinery.
The IPO is targeting just over ₦2 trillion at ₦525 per share, which Dangote presented as the largest IPO in Africa’s history.
He said the refinery demonstrates that ambitious projects considered impossible can be achieved through determination, resilience and long-term commitment, while positioning the facility as a platform for job creation, wealth creation and broader economic transformation.
