Chairman of Dangote Group, Aliko Dangote, has revealed that Nigerians will be able to purchase shares in the $20 billion Dangote Refinery within the next four to five months, placing the expected window between June and July 2026.
Dangote disclosed this while receiving the Group Chief Executive Officer and senior officials of the Nigerian National Petroleum Company Limited during a visit to the refinery complex in Lekki, Lagos.
Addressing the delegation, he reiterated that the refinery would soon be listed on the Nigerian stock market, enabling ordinary citizens to own stakes in the multi-billion-dollar facility.
“But individually, Nigerians too will have an opportunity in the next maximum four or five months they will actually be able to buy their shares,” he said.
He added that Nigerian investors would be allowed to receive dividends either in naira or US dollars, explaining that the refinery earns foreign exchange. “People will have a choice either to get their dividends in naira or to get their dividends in dollars because we earn in dollars,” Dangote stated.
NNPCL currently holds a 7.25 percent equity stake in the refinery on behalf of the Federal Government. Plans had earlier been announced for the facility to be listed on the Nigerian Exchange.
The visit comes shortly after an executive order by Bola Ahmed Tinubu directing that oil revenues be paid directly into the Federal Government account, a directive reported to have affected several income streams previously retained by NNPCL.
ELIJAH ADEYEMI
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