Africa’s richest man, Aliko Dangote, has announced plans to sell part of his multibillion-dollar refinery to Nigerians through a public listing on the Nigerian Stock Exchange.
According to him, the move will allow citizens to buy shares and become part-owners of what he described as a “national asset.”
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Dangote made this known at the 2025 Inaugural Annual Downstream Petroleum Week organised by the House of Representatives Committee on Petroleum Resources (Downstream) in Abuja.
Speaking through the Group Chief Strategy Officer of Dangote Industries Limited, Mr. Aliyu Suleman, the business mogul said the planned listing will enable Nigerians to benefit directly from the refinery’s success.
He said: “Nigeria is now a net exporter of refined petroleum products, polypropylene and urea. This is a historic turnaround. And we’re not getting started. Soon, the Dangote Refinery would be listed, giving Nigerians the opportunity to become shareholders in this national asset.”
Dangote also dismissed claims of monopoly in the downstream sector, insisting that no investor is stopped from building a refinery.
He said: “Too many people with the means to build industries chose instead to invest abroad. We have chosen differently. We have chosen to build here, to employ here, to produce here. So let us not use the cry of monopoly to start from growth. No one is prevented from investing.”
He further urged government agencies to strengthen industrial policies that support innovation, competition, and productivity in the petroleum industry.
According to him, Nigeria’s proximity to crude oil and gas gives it a strong edge to grow its refining capacity and industrial base.