By Ayomide Otitoju
President of the Dangote Group, Alhaji Aliko Dangote, has revealed plans to list the $20 billion Dangote Refinery on the stock exchange, offering Nigerians an opportunity to become shareholders in the landmark facility located in Lekki, Lagos State.
Dangote made the disclosure at the Global Commodity Insights Conference on West African Refined Fuel Markets, hosted by the Nigerian Midstream and Downstream Petroleum Regulatory Authority in collaboration with S&P Global in Abuja.
“Very soon, the refinery will be listed to give all Nigerians the opportunity to become shareholders,” Dangote said, adding that the company remains open to partnerships with African governments, investors, and regional institutions.
He reaffirmed his commitment to refining all petroleum products consumed in Africa within the continent and highlighted investments in liquefied petroleum gas (LPG) production to promote clean cooking practices in Nigeria.
Addressing concerns of monopolistic control, Dangote criticised those who invest abroad while neglecting local development. “We have chosen to bet on Nigeria and will continue to do so,” he stated, urging other investors to build refineries rather than criticise local ventures.
Dangote also called on the government and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to encourage serious players to enter the refining space, stating, “Others should be encouraged to build refineries if they are serious.”
