Chairman of Dangote Group, Aliko Dangote, has revealed that Nigerians will soon have the opportunity to purchase shares in the $20 billion Dangote Refinery.
Dangote made the disclosure during a visit by the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL) and other top officials to the refinery complex located in Lekki, Lagos.
Addressing the delegation, Dangote stated that the refinery would be listed on the Nigerian Exchange Group (NGX) within the next four to five months—between June and July 2026—allowing individual Nigerians to participate in the ownership of the multi-billion-dollar facility.
“But 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 said.
He further explained that prospective shareholders would have the option of receiving dividends either in naira or in US dollars, noting that the refinery generates foreign exchange earnings.
“People will have a choice either to get their dividends in naira or to get their dividends in dollars because we earn in dollars,” he added.
Reports indicate that NNPCL currently holds a 7.25 percent equity stake in the Dangote Refinery on behalf of the Federal Government of Nigeria. The refinery had earlier announced plans to be listed on NGX as part of efforts to broaden ownership and deepen local participation.
The development comes shortly after President Bola Ahmed Tinubu reportedly issued an executive order directing the direct remittance of oil revenues into the Federal Government account, a move said to have impacted several revenue streams previously retained by NNPCL.
The anticipated public listing is expected to mark a significant milestone in Nigeria’s energy and capital markets landscape, potentially opening up one of Africa’s largest industrial projects to domestic investors.
