By Ayomide Otitoju
Dangote Petroleum Refinery and Petrochemicals (DPRP) has denied recent reports suggesting a possible Initial Public Offering (IPO). In a statement on Friday, the company described the circulating information as “unauthorised,” “unverified,” and in some cases “inaccurate.”
“Such reports do not originate from DPRP and should be treated with caution,” the statement said, adding that “all official updates regarding any potential transaction will be communicated strictly through DPRP’s formal public disclosures and announcements issued by its appointed advisers, in line with applicable laws and regulatory requirements.”
The clarification comes following earlier indications by Dangote Group President, Aliko Dangote, that the refinery could eventually be listed on the stock market. He had previously suggested selling a minority stake in the refinery, saying, “We don’t want to keep more than 65 to 70 per cent. Shares will be offered incrementally, depending on investor appetite and market depth.”
Capital market stakeholders, including the Chairman of the Nigerian Exchange Group, Umaru Kwairanga, had also referenced Dangote’s intent to list the refinery. However, DPRP stressed that the public, investors, and market participants should disregard speculative commentary and rely solely on verified information from official sources.
“DPRP remains committed to the highest standards of transparency, corporate governance, and market integrity,” the statement said. “The Enterprise also underscores the importance of responsible public communication and urges commentators, analysts, and social media influencers to rely only on authenticated information.”
The company assured stakeholders that comprehensive and accurate details regarding any proposed transaction would be released through official channels, including regulatory filings, authorised press releases, and coordinated communications by the Enterprise and its appointed advisers.
“This communication is for information purposes only and does not constitute, or form part of, an offer to sell or a solicitation of an offer to buy any securities. Any such offer, if made, will be undertaken solely on the basis of duly authorised offer documentation and in compliance with all applicable laws and regulatory requirements,” DPRP added.
