Trending 
The President of the Dangote Group, Aliko Dangote, has announced plans to allow Nigerians to invest directly in the Dangote Refinery, part of efforts to broaden public ownership of the project.
Dangote made the announcement on Saturday while speaking to journalists during a tour of the refinery with the Group CEO of the Nigerian National Petroleum Company Limited (NNPC), Bayo Ojulari, and other board and executive members.
According to Dangote, individual investors will be able to purchase shares in the refinery within the next four to five months.
“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.
Dangote noted that NNPC holds a 7.25 percent stake on behalf of Nigerians.
“They are holding 7.25 per cent of the shares that we have here… and they are holding that on behalf of Nigerians,” he said.
Investors will have flexibility in how they receive dividends, with the option to receive payments in either naira or U.S. dollars, Dangote said.
“People will have a choice either to get their dividends in naira or to get their dividends in dollars because we earn dollars,” he said.
Credit: Guardian
Beyond public investment, Dangote highlighted ongoing collaboration with NNPC to strengthen refinery operations and explore further opportunities in the oil and gas value chain.
He also indicated that discussions are ongoing about potential upstream partnerships. The industrialist noted that the refinery is not just a processing facility but an industrial hub.
“I think the sky is the limit, and we [NNPC and Dangote Refinery] will cooperate and also make sure that we work together to make sure that we make Nigerians proud.
“Most likely, depending on our own discussions with them, we will partner with them, maybe in some of the upstream. They, too, will partner with us here because here is not a refinery. It’s an industrial hub,” he stated.
New projects within the complex, including the production of linear alkylbenzene used in detergents, are expected to make the refinery a major supplier for Africa within the next 30 months, according to Dangote.
“That raw material for detergent will be sufficient for the entire African continent… and we will deliver all this in the next 30 months,” he added.
