Dangote Petroleum Refinery to Open Shares to Nigerians in Five Months
Aliko Dangote, President of the Dangote Group, has announced plans to open the shareholding of the $20 billion Dangote Petroleum Refinery to Nigerians within the next four to five months.
Dangote disclosed this during a working visit to the Lagos refinery complex by the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Bayo Ojulari, alongside members of the company’s board and executive management team.
He stated that individual Nigerians would soon be able to purchase shares in the refinery, adding that investors would have the option of receiving dividends in either naira or dollars, given the facility’s dual-currency revenue streams. Dangote clarified that NNPC currently holds a 7.25 per cent equity stake in the refinery on behalf of Nigerians and noted that the planned public offering would complement the existing arrangement.
Beyond the share sale, Dangote highlighted plans to deepen collaboration with NNPC, describing the refinery as more than a petroleum processing plant but an industrial hub with significant implications for Nigeria’s downstream and petrochemical sectors.
He also revealed that within the next 30 months, the complex would begin producing linear alkylbenzene, a key raw material for detergent manufacturing, at a scale sufficient to meet demand across Africa.
In his remarks, Ojulari said the Dangote–NNPC alliance would strengthen Nigeria’s energy security and accelerate industrialisation. He described the 650,000 barrels-per-day refinery as a landmark achievement and a demonstration of Nigeria’s capacity to deploy world-class industrial technology.
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