Aliko Dangote Says Nigerians Can Buy Refinery Shares Within Five Months

Aliko Dangote has confirmed that ordinary Nigerians will be able to purchase shares in the Dangote Petroleum Refinery within the next four to five months.

Speaking during a tour of the refinery complex in Lagos, Dangote said:

“Individually, Nigerians too will have an opportunity… in the next maximum four or five months, they will actually be able to buy their shares.”

The refinery is located in the Lekki Free Zone and has a nameplate capacity of 650000 barrels per day. It began supplying refined petroleum products into the Nigerian market in 2024.

Dividend Option in Naira or Dollars

Dangote also addressed how dividends may be paid to investors. He stated:

“People will have a choice either to get their dividends in naira or to get their dividends in dollars because we earn dollars.”

No formal dividend framework or IPO prospectus has been released at this time.

NNPC Stake Confirmed

Dangote further clarified the ownership structure involving the Nigerian National Petroleum Company Limited.

He said:

“And the other issue is that they are holding 7.25 per cent of the shares that we have here… and they are holding that on behalf of Nigerians.”

NNPC currently holds that minority stake in the refinery.

From Dangote’s own remarks:

Nigerians will be able to buy shares within four to five months. Dividends may be paid in either naira or dollars. NNPC holds 7.25 percent of the refinery.

Details regarding pricing, subscription structure, regulatory filings, and a confirmed listing date have not yet been publicly disclosed.

Further information is expected as the stated timeline approaches.