Dangote Announces Share Offering for Nigerians in $20B Refinery Launch
Aliko Dangote, President of the Dangote Group, has revealed plans to list the $20 billion Dangote Refinery on the Nigerian Exchange Limited, granting Nigerians direct ownership opportunities. The announcement came during a conference in Abuja hosted by the Nigerian Midstream and Downstream Petroleum Regulatory Authority and S&P Global Insights.
Dangote underscored the refinery’s readiness to collaborate with African governments, private investors, and regional institutions, emphasizing a vision for continental energy self-sufficiency. “Africa should refine all the petroleum products it consumes right here on the soil of Africa,” he declared. The listing, he added, would democratize access to the refinery’s ownership, stating, “Very soon, the refinery will be listed to give all Nigerians the opportunity to become shareholders.”
Operational milestones underscore the project’s momentum. Official fuel production commenced in September 2024, followed by two price reductions within two months, signaling efforts to enhance affordability. The refinery further plans to launch direct petrol and diesel distribution to consumers starting August 15, 2025.
Dangote’s strategy reflects broader ambitions to position Africa as a global energy hub. Partnerships with continental and international entities, he noted, would accelerate this goal. The refinery—one of the world’s largest—aims to reduce Africa’s reliance on imported refined products, bolstering regional economic resilience.
With Nigeria set to become a key beneficiary through both equity shares and localized fuel supplies, the initiative marks a significant step toward sustainable energy infrastructure. The listing is anticipated to stimulate domestic investment while reinforcing Dangote’s role as a pivotal force in Africa’s energy transformation.
