Africa’s richest industrialist, Aliko Dangote, has announced that Nigerians will be able to buy Dangote refinery shares directly within the next five months.
Speaking during a high-profile visit to the refinery by Bayo Ojulari, group chief executive officer of Nigerian National Petroleum Company Limited, Dangote described the moment as a milestone for the multi-billion-dollar facility.
“Individually, Nigerians too will have an opportunity in the next maybe maximum four to five months. There will actually be an opportunity to buy the shares,” he said.
Dangote revealed that NNPC currently holds 7.25 per cent equity in the refinery on behalf of Nigerians, a stake he compared to that of Elon Musk in Tesla.
He added that future shareholders will be able to receive dividends in either naira or dollars, reflecting the refinery’s foreign currency earnings.
Describing Ojulari’s visit as symbolic, Dangote said NNPC was not merely a guest but a strategic investor that backed the project at a time of uncertainty.
“I know NNPC invested in us when we were not really sure whether the refinery would be successful,” he noted, expressing optimism about deeper collaboration with the new NNPC leadership.
Dangote also hinted at potential upstream partnerships, referencing oil blocks 71 and 72. He said discussions were ongoing that could see both parties deepen cooperation beyond refining.
He stressed that the facility is more than a refinery, describing it as an industrial hub.
The company is set to begin large-scale production of linear alkyl benzene — a key raw material for detergent manufacturing. With a projected 400,000-tonne capacity, Dangote said the output would be sufficient to supply the entire African market.
Currently, only Algeria and Egypt produce the product in Africa, with capacities of 100,000 and 50,000 tonnes respectively.
On February 6, the Dangote refinery confirmed it would soon commence surfactant production for detergent manufacturing in Nigeria.
