President and Chief Executive of Dangote Industries Limited, Aliko Dangote, says the planned Initial Public Offering, IPO of the Dangote Petroleum Refinery is being structured to make it easier for ordinary Nigerians to acquire shares in the company.
Dangote said the share purchase process would be simplified through technology-driven subscription channels, with investors able to participate using their Bank Verification Number, BVN.
He said the offering was designed not only to raise capital but also to broaden ownership of the refinery by giving Nigerians an opportunity to benefit directly from its growth.
“This refinery belongs to Nigerians and Africans. It was built to transform our economy, create prosperity, and secure our energy future. We want the people to share in that success,” Dangote said.
“That is why we are making the IPO process simple, transparent, and accessible. Anyone with a Bank Verification Number (BVN) will be able to invest and become a co-owner of this refinery,” he added.
According to Dangote, the simplified process is expected to make participation accessible to a wide range of investors, including civil servants, traders, professionals, young entrepreneurs and cooperative societies, as well as Nigerians in the diaspora.
He said broad-based ownership could help deepen Nigeria’s capital market and allow more citizens to participate in the wealth created by major industrial projects.
“People should not only benefit as consumers of refined petroleum products; they should also benefit as owners,” he said.
Dangote recalled that previous public offerings by companies within the Dangote Group had enabled investors to benefit through dividends and capital appreciation, expressing confidence that the refinery could similarly generate long-term value for shareholders.
The planned IPO is expected to be one of the major capital market transactions in Nigeria, given the size and strategic importance of the refinery to the country’s energy and industrial sectors.
The Dangote Petroleum Refinery has a production capacity of 700,000 barrels per day and has expanded Nigeria’s domestic refining capacity while supplying refined petroleum products to markets within and outside the country.
Dangote said details on the offer structure, subscription channels and participation requirements would be released through the appropriate regulatory and capital market channels.
He said the planned public offering was intended to give Nigerians a direct stake in an industrial asset with implications for the country’s energy security and economic development.