Aliko Dangote, president and chief executive officer of the Dangote Group, has announced that Nigerians will soon have the opportunity to directly purchase shares in the Dangote Petroleum Refinery, with the process expected to begin within the next four to five months.
Gatekeepers News reports that Dangote made the disclosure while speaking to journalists during an inspection tour of the multi-billion-dollar facility by Bayo Ojulari, group chief executive officer of the Nigerian National Petroleum Company (NNPC) Limited, alongside members of the company’s executive management team.
He said arrangements were being finalised to open up shareholding to individual Nigerians, describing the move as part of efforts to deepen public participation in the landmark project.
According to him, NNPC currently holds a 7.25 percent equity stake in the refinery on behalf of Nigerians, adding that the stake reflects the confidence the national oil company showed in the project at a time when its success was still uncertain. He noted that Nigerians would soon be able to own direct stakes in the facility, further broadening local ownership.
Dangote also revealed that investors would be allowed to receive dividends in either naira or dollars, given that the refinery generates revenue in foreign currency. He described the visit by NNPC officials as a major milestone, saying it underscored the strong partnership between both organisations and their shared commitment to national development.
The business mogul said the relationship with the current leadership of NNPC had opened fresh prospects for collaboration, particularly in the upstream oil and gas sector. He disclosed that discussions were ongoing regarding potential joint investments in oil blocks and other upstream ventures, stressing that both parties were exploring strategic areas where mutual cooperation could yield long-term benefits.
Beyond fuel production, Dangote said the refinery was being positioned as a major industrial hub, with plans to venture into the production of key raw materials for manufacturing. He disclosed that the facility would soon commence the production of linear alkyl benzene, a major input for detergent manufacturing, with a planned capacity of 400,000 tonnes annually — a scale he said would be sufficient to meet Africa’s entire demand.
He added that this output would far exceed existing production levels on the continent, which currently stand at about 150,000 tonnes combined from facilities in Algeria and Egypt. According to him, the project is expected to be fully delivered within the next 30 months, significantly reducing import dependence and boosting local industrial growth.
Recall that earlier this month, the Dangote refinery announced plans to begin the production of surfactants used in detergent manufacturing, further reinforcing its expansion into petrochemical and industrial inputs aimed at strengthening Nigeria’s manufacturing base and export capacity.
