KEY POINTS
- Nigerians will be able to buy Dangote refinery shares within four to five months.
- NNPC currently holds 7.25 percent equity in the refinery on behalf of citizens.
- The facility is expanding into petrochemicals and aims to supply all of Africa with key industrial materials.
Aliko Dangote, president of Dangote Group, has announced that Nigerians will soon be able to buy shares in the Dangote Petroleum Refinery, revealing that the opportunity is expected to open within the next four to five months.
He disclosed this while speaking to journalists during a facility tour attended by Bayo Ojulari and senior executives from Nigerian National Petroleum Company Limited.
Dangote explained that NNPC currently holds a 7.25 percent equity stake in the refinery on behalf of Nigerians, stressing that the holding represents a significant ownership portion.
He compared the stake to that of Elon Musk in Tesla, noting that the national oil company is effectively holding the shares in trust for citizens until public participation begins. According to him, individuals will soon be able to directly purchase shares once the offer is formally launched.
He stated that future shareholders will be able to receive dividends either in naira or in dollars because the refinery earns revenue from both local and foreign currency transactions.
He described the visit by the NNPC leadership as a landmark moment for the facility and praised the company for investing in the project at an early stage when its success was not yet guaranteed, calling the partnership a strong vote of institutional confidence.
Plans for deeper NNPC partnership
Dangote also revealed that discussions are ongoing between both organisations regarding possible collaboration in upstream oil assets, particularly Oil Mining Leases 71 and 72. He indicated that joint participation remains likely, adding that cooperation will not be limited to refining since the complex is designed to function as a full industrial hub.
Dangote also revealed that discussions are ongoing between both organisations regarding possible collaboration in upstream oil assets, particularly Oil Mining Leases 71 and 72. He indicated that joint participation remains likely, adding that cooperation will not be limited to refining since the complex is designed to function as a full industrial hub.
