Africa’s richest man, Aliko Dangote, has introduced plans to promote a part of his multibillion-dollar refinery to Nigerians by means of a public itemizing on the Nigerian Inventory Trade.
Based on him, the transfer will enable residents to purchase shares and turn into part-owners of what he described as a “nationwide asset.”
Dangote made this identified on the 2025 Inaugural Annual Downstream Petroleum Week organised by the Home of Representatives Committee on Petroleum Sources (Downstream) in Abuja.
Talking by means of the Group Chief Technique Officer of Dangote Industries Restricted, Mr. Aliyu Suleman, the enterprise mogul mentioned the deliberate itemizing will allow Nigerians to profit straight from the refinery’s success.
He mentioned: “Nigeria is now a internet exporter of refined petroleum merchandise, polypropylene and urea. It is a historic turnaround. And we’re not getting began. Quickly, the Dangote Refinery can be listed, giving Nigerians the chance to turn into shareholders on this nationwide asset.”
Dangote additionally dismissed claims of monopoly within the downstream sector, insisting that no investor is stopped from constructing a refinery.
He mentioned: “Too many individuals with the means to construct industries selected as a substitute to speculate overseas. Now we have chosen in a different way. Now we have chosen to construct right here, to make use of right here, to supply right here. So allow us to not use the cry of monopoly to start out from development. Nobody is prevented from investing.”
He additional urged authorities companies to strengthen industrial insurance policies that help innovation, competitors, and productiveness within the petroleum trade.
Based on him, Nigeria’s proximity to crude oil and gasoline offers it a powerful edge to develop its refining capability and industrial base.